The Saigon Hi-tech Park (SHTP) has granted an investment licence to a 63 million USD-project from the Republic of Korea (RoK) to produce electronic components and LED screens, reported the Dau Tu (Investment) newspaper.

The project, by Daeyoung Electronics Vina Co., Ltd, was the first in a series of projects to supply the ongoing Samsung CE Complex project which began in May 15 this year with a total investment of 1.4 billion USD.

Authorities of the Ho Chi Minh City-based SHTP said that 2-3 more RoK projects in electronics and consumer electronics will be approved in the coming time.

Dau Tu newspaper also quoted a report of the municipal Department of Planning and Investment as saying that foreign direct investment in the city for the first five months of this year is estimated at slightly over 1 billion USD, up 33 percent from the same period last year.

The figure includes 669 million USD poured into new projects and 386 million USD added to existing projects.-VNA