On September 15, during the 2024 Provincial Planning and Investment Promotion Conference, Bắc Ninh is set to officially sign a Memorandum of Understanding (MoU) with Samsung Display Vietnam for the development of a project focusing on the production of displays and electronic components at the Yên Phong Industrial Park.
Key Details:
According to Bắc Ninh’s Provincial People’s Committee, the MoU will formalize Samsung Display Vietnam’s project, which involves a total investment of approximately $1.8 billion.
Samsung first invested in Bắc Ninh in 2008 with an initial capital of $670 million. Over the past decade, Samsung has become Vietnam’s largest foreign direct investor, with a cumulative investment exceeding $22.4 billion, nearly 50% of which is concentrated in Bắc Ninh.
From the beginning of this year, Bắc Ninh has granted investment registration for 35 projects, totaling 9,426.354 billion VND. It also adjusted registrations for 74 projects, including 23 with increased capital, resulting in a net capital increase of 1,399.371 billion VND (19 projects increased capital by 1,909.609 billion VND, while four reduced it by 510.238 billion VND). As of now, the province has registered 1,586 valid investment projects with a total adjusted capital of 269,786.131 billion VND.
Goals for 2024:
The Bắc Ninh People’s Committee aims to attract $7 billion in foreign direct investment (FDI) in 2024. The remarkable growth in FDI in the province is primarily driven by large capital adjustment projects, such as Amkor Technology Vietnam’s $1.07 billion expansion at Yên Phong II-C Industrial Park. This adjustment brings Amkor’s total investment to $1.6 billion, with a production capacity of 3.6 billion products per year.
Source: Hoang Nguyen – cafef.vn