Samsung to invest $3 bn in Vietnam plant
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Samsung Display Co, a subsidiary of Samsung Group, will invest US$3 billion (Bt105 billion) in its plant in Yen Phong Industrial Park in the northern Vietnamese province of Bac Ninh.
The government’s news website chinhphu.vn said the People’s Committee of Bac Ninh province had granted the investment licence for the expansion of the Korean company last Thursday.
The project will be completed this year, and initial revenue is expected to reach $1.5 billion, rising to $40 billion in 2018 and $60 billion in 2020. It will also create 20,000 jobs for local residents.
According to Nguyen Tu Quynh, chairman of the Bac Ninh People’s Committee, Samsung had previously invested in a $1-billion project in the province, which earned $17.99 billion from exports and contributed 3 trillion dong (Bt4.8 billion) to the state budget last year.
In recent years, Bac Ninh has become an increasingly appealing investment destination, the government says. As of July 31, it was home to 887 projects with registered capital exceeding $12 billion. – VNS
Korat expo sees Bt18.7 bn in combined deals
The ninth “Money Expo Korat”, which ended on Sunday, saw combined deposits and loan requests of Bt18.7 billion, of which Bt10.8 billion were for mortgages, according to the fair’s organiser, Money & Banking magazine.
The requests for loans to small and medium-sized enterprises at the fair amounted to Bt3.682 billion, three times those at the previous fair. The three-day event attracted more than 200,000 people.
