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Bac Ninh funds Samsung training, infrastructure

The northern province of Bac Ninh will give Samsung Display Co., Ltd nearly 300 billion VND or more than 14.2 million USD to develop infrastructure and to train local workers.
The northern province of Bac Ninh will give Samsung Display Co., Ltdnearly 300 billion VND or more than 14.2 million USD to developinfrastructure and to train local workers.

A resolution to this effect was approved during a session of the provincial People's Council on July 9 and 10.

Nearly 287 billion VND or 13.6 million USD will be used for meeting half of the infrastructure costs on more than 46ha.

About 12 billion VND, or more than 571,000 USD, will be spent ontraining the province's workers, at the rate of 1.5 million VND or 71USD per person.

The number of employees receiving support will not exceed the firm's estimated number of 8,000.

Samsung Display will receive the financial support only when itfulfills its commitment on high technology as mentioned in its documentsapproved by the Ministry of Science and Technology.

Earlierthis month, the Bac Ninh Province 's People's Committee award-edthe investment certificate to Samsung Display, a member company of theRepublic of Korea giant Samsung Corporation, for the 1-billion-USDproject in the Yen Phong Industrial Zone.

The project isexpected to produce 48 million electronic parts peryear, create 8,000jobs and make an annual profit of about 6 billion USD.

People's Committee Chairman Nguyen Nhan Chien said that the projectwould contribute towards the completion of the Samsung Complex and boostthe development of the electrical communications industry.

Headded that it would also make Bac Ninh the centre of the sector inVietnam and turn the province into Samsung's complete globalmanufacturing base.

The chairman also said that the projectwould activate the development process of the supporting industries,increase the localisation rate of the Samsung Complex and develop theservices aiding industrial production in Bac Ninh.-VNA
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