Samsung spends 300 million USD on R&D centre in Hanoi hinh anh 1The certificate presentation takes place on March 30 (Photo: VNA)

Hanoi (VNA) – Samsung Electronics Vietnam Co. Ltd is building a research and development (R&D) centre worth 300 million USD in Hanoi.

The investment registration certificate was presented to the Republic of Korea-owned company on March 30.

Earlier, the Prime Minister approved the project, which aims to develop high-tech electrical, electronic and telecommunication products.

The R&D centre will be located in Dai Kim ward of Hoang Mai district.

Under the High Technology Law and the Law on Land, it will be exempted from land rent for 50 years.

At the certificate presentation, Chairman of the Hanoi People’s Committee Nguyen Duc Chung said he hopes the project will facilitate the growth of foreign investment, as well as technological application and transfers.

He also said he expects the project to help improve workers’ skill levels and support industries’ capacity.

Han Myoung-sup, Director General of Samsung Complex Vietnam, said Samsung is a big investor in the country, and the new project is part of its mid- and long-term investment plan here.

The firm pledges to finish the project on schedule and hopes for the best possible conditions given by local authorities for project implementation, he added.-VNA