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Samsung to invest additional 2.5 bln USD in northern Vietnam

Xinhua, January 5, 2017 Adjust font size:

Samsung Display Vietnam has just announced that it will invest an additional 2.5 billion U.S. dollars in Vietnam's northern Bac Ninh province.

The disbursement will be conducted in five years' time from 2018, bringing the total investment on display production of the South Korean manufacturer into Bac Ninh, some 30 km north of capital Hanoi, to 6.5 billion U.S. dollars, reported Bao Dau Tu (Vietnam Investment Review) online newspaper on Thursday.

With Samsung's investment scale expansion, Bac Ninh authorities has proposed Vietnamese government to allow Samsung Display Vietnam to be entitled to three more years with its corporate income tax reduced by half, reported Bao Dau Tu.

In Bac Ninh alone, South Korea has been granted licenses for 592 investment projects with registered capital of 8.6 billion U.S. dollars, making up 65.5 percent of total foreign investment in the province. Endit