Bac Ninh gives nod to $100 million project

The northern province of Bac Ninh Province on Thursday gave the go-ahead to a US$100 million project by South Korean firm Hanwha Techwin Security Company.

The People’s Committee of the northern Bac Ninh Province granted an investment certificate to the South Korean firm Hanwha Techwin Security Company.-Photo bacninhtv.vn

The provincial People’s Committee granted an investment certificate to the firm, which specialises in manufacturing electronic circuits, semiconductors, chips, computers and cameras. The unit will be built on a six-hectare plot in Que Vo Industrial Park.

Bui Hoang Mai, head of Bac Ninh’s Management Board of Industrial Parks, said that in the 2015-20 period, the province was prioritising the electric, electronic and mechanical manufacturing sectors. He expressed hope that the new project would generate more jobs for locals and contribute to the region’s socio-economic development.

Nguyen Tu Quynh, the committee’s chairman, reiterated that the province would create optimal conditions for investors.

Yang Jinseol, a representative of the company, promised that the factory would be built quickly and would start operations as scheduled.

In the first two months of this year, Bac Ninh has attracted $2.7 billion in foreign direct investment (FDI). On February 24, it granted an investment licence to Samsung Display Viet Nam Co. Ltd.’s $2.5 billion expansion project.

As of this February, industrial parks in Bac Ninh have attracted 1,086 projects with a registered capital of $15.87 billion, of which 659 are FDI projects worth $14.13 billion. These projects created jobs for around 230,000 workers and contributed VND7 trillion ($306.7 million) to the State budget in 2016.

Source VNS