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Hanoinews
Mar 30, 2016 / 16:56

Hanoi issued the project's registration certificate of investment to Samsung

By Anh Kiet

On March 30, ceremony of issuing the project`s registration certificate of investment to Samsung Electronics Vietnam Co., Ltd. (SEV) was held in Hanoi with a focus on investment project of research and development (R&D) centre of Samsung Electronics in Hanoi, worth $300 million.

Speaking at the ceremony, City Chairman Nguyen Duc Chung said that the city government is committed to continue to contract with Samsung and other companies to invest in long-term business in Hanoi, and expects that Samsung Group will focus maximum resources, urgently implement construction to complete the project on schedule commitments and soon put into operation.
 
Chairman of Hanoi People's Committee Nguyen Duc Chung issued the project's registration certificate of investment to the SEV
Chairman of Hanoi People's Committee Nguyen Duc Chung issued the project's registration certificate of investment to the SEV
This is the largest project of its kind that the compny has built in Southeast Asia. The centre aims to organize the activities of research and development electrical, electronics and high-tech telecommunications products with a total investment of 300 million USD, equivalent to 6,750 billion VND. The new building, which is located in Dai Kim Ward, Hoang Mai District, Hanoi. The new R&D centre reflects Samsung’s intention to make Vietnam a new Silicon Valley, rather than a manufacturing destination. The company also plans to expand its R&D workforce from 1,600 to 1,800 engineers. This shows Vietnam will be producing more value-added products. 

The project once implemented will contribute to attract more foreign investment; develop high-quality human resources; transfer applications and technology; create linkages with domestic firms to develop ancillary industries; utilize and promote the advantages to benefit many aspects to Hanoi as well as the Samsung Group.

Receiving investment certificate from the Chairman of Hanoi People's Committee, General Director of Samsung Vietnam - Mr. Han Myoung-sup thanked the support from the leaders of the city, confirmed that in the medium and long term strategy Samsung has always identified Vietnam in general and Hanoi in particular is the focus of investment priorities. On behalf of the Group, he is committed to complete the project on schedule, put into practice successfully and effectively.

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