Samsung invests US$3 billion in Bac Ninh
Bac Ninh authorities presented an investment licence to Samsung Display Co. Ltd on August 6, marking an upcoming flow of US$3 billion from the company into the northern province.
Located at the local Yen Phong industrial park, the Samsung project will be operational within 2015 with expected initial revenue of US$1.5 billion, set to reach US$40 billion in 2018 and US$60 billion in 2020. It will also create 20,000 jobs for local residents.
According to Chairman of the Bac Ninh People’s Committee Nguyen Tu Quynh, Samsung previously invested in a US$1 billion project in the province that earned US$17.99 billion from exports and contributed VND3 trillion (US$138.2 million) to the State budget in 2014.
In recent years, the northern province of Bac Ninh has become an increasingly appealing investment destination. As of July 31, it was home to 887 projects with registered capital exceeding US$12 billion.
According to Chairman of the Bac Ninh People’s Committee Nguyen Tu Quynh, Samsung previously invested in a US$1 billion project in the province that earned US$17.99 billion from exports and contributed VND3 trillion (US$138.2 million) to the State budget in 2014.
In recent years, the northern province of Bac Ninh has become an increasingly appealing investment destination. As of July 31, it was home to 887 projects with registered capital exceeding US$12 billion.