Samsung pours US$300 million on R&D center

THUrsday - 18/04/2024 15:05    

Chairman of the Ha Noi People’s Committee Nguyen Duc Chung granted an investment license to the Samsung Electronics Viet Nam Co. Ltd to build a US$300 research and development (R&D) centre in Ha Noi on March 30.
 

Illustration photo
Earlier, the PM signed a decision approving the project which aims to develop electric, electronic and high-tech telecom products.

The R&D centre will be located in Nguyen Xien road, Dai Kim ward of Hoang Mai district.

Under the High Technology Law and the Law on Land, it will be exempted from land rent for 50 years.

Chairman of the Hanoi People’s Committee Nguyen Duc Chung hoped that the project would facilitate the growth of foreign investment, technological application and transfers.  

Ha Noi also expects that Samsung Group would mobilize all resource to finalize the project on schedule and early put it into operation.  

For his part, Director General of Samsung Complex Viet Nam Han My-oung-sup said that Samsung is a big investor in the country, and the new project is part of its mid- and long-term investment plan here.

“This is the first research project and Samsung is proud of contributing to the capital’s development,” said Mr. Han My-oung-sup.

He also took the occasion to seek support from the local authorities for the success of the project./.