The plant, the second of its kind in the province, has received strong support from the Vietnamese Government.
The newly-licensed plant, named Samsung Electronics Vietnam (SEV) Co. Ltd, has an estimated investment capital of US$830 million, increasing Samsung’s total investment in Bac Ninh to almost US$1.5 billion.
The project will cover an area of 40 hectares in Yen Phong industrial park.
SEV is expected to double its current revenue of US$10 billion in the coming year. It aims to generate jobs for over 30,000 workers and provide business for around 300 satellite suppliers.