(The Construction News) - Samsung Display continues to invest $ 3 billion in Yen Phong Viglacera Industrial Zone

Afternoon on 6 August, People's Committee Bac Ninh Province awarded certificates of investment in expansion projects for Samsung Display Vietnam Co., Ltd.. The project has a total investment of $ 3 billion, which is expected to create more than 20,000 jobs and large export revenue with estimated revenue at $ 60 billion by 2020. This Samsung’s project will be located at Yen Phong Viglacera Industrial Zone that is one of the key industrial zones of the North

Samsung factory at Yen Phong Industrial Zone

Samsung's speedy leap

Samsung shall invest $ 3 billion in research and development (R & D) and manufacturing new generation of screen, high resolution for mobile devices, including the type AMOLED, OLED screens...

With additional investment of $ 3 billion, Samsung Display projects in Bac Ninh has a total investment of up to $ 4 billion, and become second largest projects of total investment of  Samsung Corporation in Vietnam.

Bac Ninh Province's leaders awarded certificates of $ 3 billion investment for Samsung Display Vietnam - Investment projects in Yen Phong Industrial Zone

The project is expected to start operating in 2015 and will archive $ 1.5 billion of revenue; year 2018 will be reached $ 40 billion and $ 60 billion by 2020. Large export turnover and creates more than 20,000 jobs for workers.

After more than 20 years in Vietnam, so far Samsung has become one of the FDI enterprises that has the largest investment capital in Vietnam mainly in electronic technology industry.

According to Chairman of the People's Committee of Bac Ninh province - Nguyen Tu Quynh said: Samsung is a successful FDI company in Bac Ninh province. Currently, the project has invested $ 1 billion in Bac Ninh and export value has reached 17.99 billion US dollars in 2014, paid to national budget of 3,000 billion and created 50,000 jobs workers.

To continue to create favorable conditions Samsung Display Vietnam Company for investment and production in Bac Ninh, Bac Ninh provincial leaders has guided appropriate authorities ensuring the best conditions for Samsung Display such as: electricity, water, employment support, outbound traffic-internal; houses for workers and the public welfare projects. Beside that minimizing the time and process for resolving administrative procedures, ensuring the security at Yen Phong Industrial Zone in general and related activities Samsung Display Company in particular.

Yen Phong Industrial Zone and the socio-economic efficiency of investment attraction

By keep investing and expending at Yen Phong Viglacera Industrial Zone, the Samsung Corporation has shown that Yen Phong Viglacera Industrial Zone has a significant attraction.

Yen Phong Industrial Zone with comprehensive infrastructure system that satisfy the investor requirements

With the decision to have additional investment of $ 3 billion of Samsung, Yen Phong Industrial Zone so far has attracted a total investment of up to USD 7.5 billion, of which $ 7.2 billion came from FDI capital. Yen Phong Industrial Zone can be accessed as one of the effective industrial zone in land useages/high total investment of the country, with a total area of ​​246 hectare of industrial land, each hectare of land of Yen Phong Industrial Zone has attracted 0,31 billion investment capital on average.

Yen Phong Viglacera Industrial Zone has contributed largely to the export value of Bac Ninh province. Export value of first 7 months in 2015 of enterprises in industrial zones reached 10.3 billion US dollars, compared with the expected value of total exports in 2015 is $ 25 billion.

The Yen Phong Industrial Zone’s enterprises not only have the major contribution of industrial production value, exports value to Bac Ninh province, they also contribute significantly in the social welfare, community development. Enterprises in the industrial zones has created more than 60,000 jobs for workers and 4,000 jobs for indirect employment services, contribute to create the stable jobs for local labor, and also attract workers from other provinces.

Yen Phong Viglacera Industrial Zone has attracted numbers of high reputable foreign investors

The reason why local and foreign investor choose the Yen Phong Viglacera Industrial Zone is because of investors can be assured production process in this IZ. Investment Owner always focus on infrastructure development, improve the service quality and value added services and operation service to meet the stringent, specific requirements of each enterprise.

Yen Phong Industrial Zone also has excellent, profuse human resources, and utility support service to help the investors can be reassured for production and the workers get better living conditions to help asuring to stay with company. This is a crucial factor, because without good infrastructure, labor and utility support services, enterprises can hardly develop.

Along with Samsung Electronics, Samsung Display not only help Yen Phong Industrial Zone became a model in the industrial zone, and also take Bac Ninh province in to leader position in attracting investment recently years. This project contribution to accelerate the development of electronic and telecommunications industry, and soon Bac Ninh province will become the center of this industry in Vietnam.