The zone, which will be equipped with modern production and assembly lines, aims to manufacture household electronic products, digital televisions and printers, according to the RoK group.

The project’s first phase is expected to become operational in the second quarter of 2016, focusing on researching and manufacturing high-grade TV products such as SUHD TV, Smart TV and LED TV.

Minister of Science and Technology Nguyen Quan said the RoK has the largest number of foreign-invested projects in Vietnam with about USD13 billion funnelled into the country by Samsung alone.

Production of mobile headphones at Samsung. (Photo: VNA)

The Vietnamese Government is considering granting an addition USD3-billion license to the group’s project in northern Bac Ninh province, he said.

As a crucial link in Samsung’s global TV supply chain, the project will promote Vietnam’s support industry, Quan noted, adding that it also reflects increasing confidence of foreign investors in the domestic business climate.

According to Chairman of the municipal People’s Committee Le Hoang Quan, the first phase of the project will generate jobs for about 5,000 high-quality employees and thousands of others, helping the city increase its domestic production value and improving the skills of its highly-qualified work force.

Statistics show that the 2014 export turnover of Samsung’s production complexes in Bac Ninh and Thai Nguyen provinces reached USD26.3 billion, creating jobs for over 100,000 labourers./.

VNF/VNA