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Samsung Display to invest 3 bln USD into Vietnam

Xinhua, August 6, 2015 Adjust font size:

Samsung Display, an affiliate of South Korea-based Samsung corporation, was granted license on Thursday for investing into an expanded project worth 3 billion U. S. dollars in Vietnam.

Earlier in July 2014, Samsung Display was granted license to invest a project worth 1 billion U.S. dollars in Bac Ninh province, some 30 km north of capital Hanoi, focusing on research and development, manufacturing and assembling of high definition display, including curved screen, for electronic devices.

The expanded project with investment of 3 billion U.S. dollars is expected to offer 20,000 jobs, Vietnam's state-run news agency VNA reported on Thursday.

Speaking at the license-granting ceremony, Bac Ninh people's committee chairman Nguyen Tu Quynh said in 2014, export revenue of Samsung in the province reached 17.99 billion U.S. dollars.

The company contributed nearly three trillion Vietnamese dong ( over 138 million U.S. dollars) to the state budget and created around 50,000 jobs last year, said Quynh. Endi