On March 30th, Mr. Nguyen Duc Chung, Party Central Committee member and Chairman of the Hanoi People’s Committee, granted investment license for Samsung Electronics Vietnam to build a USD300-million research and development centre in Hanoi.

The centre, located in Dai Kim ward, Hoang Mai district, covers nearly 116,500 square meters. The facility will have a 21-storey building.

Mr. Nguyen Duc Chung granted the license to a representative of Samsung Electronics Vietnam. (Photo: CPV)

The project has an operation duration of 50 years from the day of being licensed and will run rent-free for 50 years under regulations of the Laws on Hi-tech and Land. Its construction is scheduled to begin in July 2017 and it is planned to be put into operation in January 2020.

In his speech at the event, Mr. Nguyen Duc Chung stressed that the operation of the project is expected to contribute to intensifying foreign investment in the capital, training and developing high-quality human resources, applying and transferring technology, and creating connection with domestic enterprises to develop the supporting industry.

Mr. Han Myoung-sup, Executive Vice President of Samsung Electronics, expressed appreciation to the Vietnamese Government in general and the capital’s leaders in particular for offering opportunities to help the project come about. He pledged Samsung Group would realize the project as scheduled./.

( Compiled by VNF )