Korean firm adds $920 million to project in Thai Nguyen

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Thai Nguyen province yesterday handed over a licence to Samsung Electro-Mechanics Vietnam Co., Ltd (SEMV) under Samsung Corporation to add US$920 million to its project in the Yen Binh industrial park (IP) in Pho Yen town.

RoK firm adds 920 million USD to project in Thai Nguyen hinh anh 1
An industrial park in Thai Nguyen.

Authority of the northern province of Thai Nguyen on February 16 handed over a licence to Samsung Electro-Mechanics Vietnam Co., Ltd (SEMV) under Samsung Corporation of the Republic of Korea to add 920 million USD to its project in the Yen Binh industrial park (IP) in Pho Yen town.

With the addition, the RoK firm has raised its total investment in the IP to nearly 52 trillion VND (2.27 billion USD).

SEMV’s decision to increase investment in its project has testified to the improved business and investment environment in the locality.

Speaking at the handing over ceremony, secretary of the provincial Party Committee Nguyen Thanh Hai re-affirmed the locality’s commitment to creating the most favourable conditions for investors to operate in the locality.

RoK firm adds 920 million USD to project in Thai Nguyen hinh anh 2
At the handing over ceremony.

She hoped that the SEMV in particular and Samsung Complex in general will implement successfully production and business projects in Thai Nguyen, and continue to consider the locality a “good destination” for their other projects.

SEMV’s project in the Yen Binh IP was first licensed in 2013. It has a total investment of nearly 30.8 trillion VND (1.35 billion USD).

The project began its operation in February 2015, mainly manufacturing and assembling high-density interconnect (HDI) printed circuit boards, and components and spare parts such as camera module, power adapter, touch sensor module, and linear motor.

At the end of 2021, it generated jobs for more than 6,500 employees.

With the addition of capital, the firm plans to expand its operation to manufacturing and assembling high-density interconnection electronic circuit board products such as FPCB, Main board, and FCBGA, among others.

Source: VNA

The Vietnamese Government always creates the best possible conditions for businesses and investors, including Samsung, to expand operations in Vietnam, Prime Minister Pham Minh Chinh affirmed on January 20.

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