ASEAN KEY DESTINATIONS
Bac Ninh funds Samsung training, infrastructure
Vietnam:The northern province of Bac Ninh will give Samsung Display Co., Ltd nearly VND300 billion or more than US$14.2 million to develop infrastructure and to train local workers.
A resolution to this effect was approved during a session of the provincial People's Council on July 9 and 10.
Nearly VND287 billion or $13.6 million will be used for meeting half of the infrastructure costs on more than 46ha.
About VND12 billion, or more than $571,000, will be spent on training the province's workers, at the rate of VND1.5 million or $71 per person.
The number of employees receiving support will not exceed the firm's estimated number of 8,000.
Samsung Display will receive the financial support only when it fulfills its commitment on high technology as mentioned in its documents approved by the Ministry of Science and Technology.
Earlier this month, the Bac Ninh Province's People's Committee award-ed the investment certificate to Samsung Display, a member company of the South Korean giant Sam-sung Corporation, for the $1-billion project in the Yen Phong Industrial Zone.
The project is expected to produce 48 million electronic parts per year, create 8,000 jobs and make an annual profit of about $6 billion.
People's Committee Chairman Nguyen Nhan Chien said that the project would contribute towards the completion of the Samsung Complex and boost the development of the electrical communications industry.
He added that it would also make Bac Ninh the centre of the sector in Viet Nam and turn the province into Samsung's complete global manufacturing base.
The chairman also said that the project would activate the development process of the supporting industries, increase the localis-ation rate of the Samsung Complex and develop the services aiding industrial production in Bac Ninh.
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