Samsung group is urgently finalising documents to invest an additional US$1 billion in the Samsung Bac Ninh Hi-Tech Complex, according to Hai Quan (Customs) newspaper.

Samsum factory in Bac Ninh.

The newspaper said that Samsung group’s leaders have assigned Samsung Display Co, Ltd to study the implementation of a hi-tech project on an area spanning 46.28 hectares in the Samsung Hi-Tech Complex.

The project has total projected investment capital of US$1 billion by 2020 and the group has proposed a series of new initiatives to finance the project.

A request for approval has been submitted to Vietnamese relevant agencies and will be granted with investment license if Prime Minister approves, said a leader of the Bac Ninh Industrial Park's management board.

Earlier on June 9-10, the management board held a working session with representatives from Samsung Display Co, Ltd and Samsung Electronics Vietnam Co, Ltd to discuss the US$1 billion project.

VOV/VNN