HCMC – The northern province of Thai Nguyen on February 16 awarded a certificate to Samsung, allowing the firm to pour an additional US$920 million into the Samsung Electro-Mechanics Vietnam project, said Phan Phu Cuong, head of the Thai Nguyen Industrial Zone Authority.
The Thai Nguyen government issued the investment certificate for the Samsung Electro-Mechanics project in 2013. At the time, the project was registered with an investment of US$1.2 billion. By May 2020, the figure had risen to US$1.35 million after seven adjustments.
The entire investment has been disbursed, Tuoi Tre Online newspaper reported.
According to Samsung Vietnam, the increase in the investment in Samsung Electro-Mechanics will help enhance the production and assembly of HDI-printed circuit boards such as FPCB and mainboards camera modules, actuators, touch sensor modules and linear motors for hi-tech mobile and telecom devices, and other electric and electronic products.
Cuong said Thai Nguyen had supported the firm in completing procedures to increase the investment.
Having operated since February 2015, Samsung Electro-Mechanics has maintained its stable production and business activities, contributing significantly to Thai Nguyen’s socioeconomic development and creating jobs for over 6,580 laborers.