Samsung affiliate company granted license for $1bn project in Vietnam

Samsung Display, an affiliate of South Korean-based Samsung corporation, was granted license on Wednesday for its project worth one billion U.S. dollars in Vietnam's northern Bac Ninh province.
The project focuses on research and development, manufacturing and assembling of high definition display, including curved screen, for electronic devices.
The project will provide products for Samsung hi-tech complex in northern Bac Ninh and Thai Nguyen provinces, as well as for exports, reported Bao Dau Tu (Vietnam Investment Review), an online newspaper of the Ministry of Planning and Investment on Wednesday.
The construction of the project is expected to start in July, 2014 while production is scheduled in the first quarter of 2015.
With this project, the total investment of Samsung in Vietnam will be increased to about 6.8 billion U.S. dollars.
According to the management unit of a Bac Ninh-based industrial zone, in 2013, export revenue of Samsung in Bac Ninh reached 23.9 billion U.S. dollars.