The Samsung’s project to manufacture cell phone and telecommunication equipment in the Yen Phong industrial park No. 1 is a foreign direct investment (FDI) project which has a total investment of USD1 billion, uses an area of 100 hectares, has a life-span of 70 years, and attracts more than 24,000 labourers. 

 

As planned, the project will reap USD4 billion after three first years of operation. The project is estimated to have favourable conditions to quickly apply information technology science achievements; be suitable with the direction of attracting investment; foster service sector, especially, supporting service sector that serves the industry in the Bac Ninh Province.

 

Samsung is currently an investor implementing projects fastest. Right after completing procedures to rent land and receiving investment license, the firm starts implementation of their projects. Samsung allocated 48 hectares of land among 100 hectares rented from the industrial park to build a plant to research and develop hi-tech electronic products such as cell phone and telecommunication devices. The plant has a total investment of USD670 million and a stable annual capacity of 60 million products. In the early second quarter of 2010, the plant will start official operation. Samsung allocated the remaining of 52 hectares of land for its affiliates to produce spare parts for the main plant as well as sell products manufactured by the main plant.

 

The Yen Phong industrial park, previously, welcomed other investors from South Korea including Alpha Precision Company, Orion Vina, Em-Tech, Sam Young Technologics Ltd., Flexcom INC, Deaho Man Machine Interface Ltd., Seshin Electrionics Ltd., Soul Metal Ltd., Co., and Hanwool Technology A & P Concete Co. VN. Apart from Orion Company producing food, most of these investors produce precise and hi-tech products to serve Samsung Group.

 

The Yen Phong industrial park is changing day by day with the strong investment from investors and a great deal of new projects. To date, basic infrastructure has satisfied the demand of enterprises who have been injecting money in the industrial park. Bac Ninh province has established a post office with a switchboard including 4,000 numbers and the most modern information network to serve the demand of post office and telecommunication. The 110-kV power station started operation. The Vietnam Bank for Industry and Trade (Vietinbank) and the Bank for Foreign Trade of Vietnam (Vietcombank) are ready to help enterprises.

The urban area, with a total area of 54 hectares, nearby the Yen Phong industrial park, also brings a fresh nuance for this new region. Viglacera Land is now carrying out a project to build houses for Samsung’s laborer working in the industrial park. The project will be handed over within August of 2009. The Yen Phong industrial park is one among a small number of industrial parks in the northern region pays attention to accommodation for workers, creating an important point in attracting enterprises in the industrial park. These facilities will help the industrial park serve the maximum demand of enterprises in the park.