Samsung Electronics Vietnam (SEV) on June 20 received an investment certificate for its SEV 3 project, which aims to invest in the research and development of hi-tech electronic goods.

SEV 3 was implemented at Yen Phong 1 Industrial Park in the northern province of Bac Ninh. Covering an area of over 559,365 square metres and with capital investment of 1 billion USD, it will bring SEV’s total capital investment in the province to 2.5 billion USD.

The complex in Bac Ninh has received more investment than any other Samsung’s plant in the world. Once operational, it is expected to generate around 20,000 jobs. SEV’s export turnover is anticipated to reach 16-17 billion USD in 2013.

SEV has proved its development power by expanding the facility three times in five years, increasing the province’s total FDI capital to nearly 6 billion USD, said provincial Party Committee Secretary Tran Van Tuy at the granting ceremony.

In the coming time, Bac Ninh will make every effort to contribute to transforming the Samsung’s technology complex in the province into Samsung Group’s leading facility in the globe.

According to the Yen Phong industrial park’s management board, the province has granted new investment licences to 50 projects with total registered capital of nearly 1.2 billion USD, including 41 foreign projects, so far this year.

As of June 20, Bac Ninh has 619 projects investing in its industrial parks with total investment of over 6.8 billion USD, encompassing 328 foreign projects.-VNA