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.
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 on training the province's workers, at the rate of 1.5 million VND or 71 USD 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 it fulfills its commitment on high technology as mentioned in its documents approved by the Ministry of Science and Technology.
Earlier this month, the Bac Ninh Province 's People's Committee award-ed the investment certificate to Samsung Display, a member company of the Republic of Korea giant Samsung Corporation, for the 1-billion-USD project in the Yen Phong Industrial Zone.
The project is expected to produce 48 million electronic parts peryear, create 8,000 jobs and make an annual profit of about 6 billion USD.
People's Committee Chairman Nguyen Nhan Chien said that the project would contribute towards the completion of the Samsung Complex and boost the development of the electrical communications industry.
He added that it would also make Bac Ninh the centre of the sector in Vietnam and turn the province into Samsung's complete global manufacturing base.
The chairman also said that the project would activate the development process of the supporting industries, increase the localisation rate of the Samsung Complex and develop the services aiding industrial production in Bac Ninh.-VNA
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 on training the province's workers, at the rate of 1.5 million VND or 71 USD 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 it fulfills its commitment on high technology as mentioned in its documents approved by the Ministry of Science and Technology.
Earlier this month, the Bac Ninh Province 's People's Committee award-ed the investment certificate to Samsung Display, a member company of the Republic of Korea giant Samsung Corporation, for the 1-billion-USD project in the Yen Phong Industrial Zone.
The project is expected to produce 48 million electronic parts peryear, create 8,000 jobs and make an annual profit of about 6 billion USD.
People's Committee Chairman Nguyen Nhan Chien said that the project would contribute towards the completion of the Samsung Complex and boost the development of the electrical communications industry.
He added that it would also make Bac Ninh the centre of the sector in Vietnam and turn the province into Samsung's complete global manufacturing base.
The chairman also said that the project would activate the development process of the supporting industries, increase the localisation rate of the Samsung Complex and develop the services aiding industrial production in Bac Ninh.-VNA
