Chairman of the People’s Committee of Thai Nguyen Province Receives Samsung Electro-Mechanics Investor

After the working session with the Management Board of the Provincial Industrial Parks, on the late afternoon of August 13th, the Board of Directors of Samsung Electro-Mechanics Company, Samsung Group, South Korea, headed by Mr. Seung Mo Ryu, the CEO, paid a courtesy visit to Mr. Duong Ngoc Long, the Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People’s Committee.

Samsung Electro-Mechanics is the next company of Samsung Group to invest in Thai Nguyen. Currently, the company is preparing for the investment procedures for the project of producing microprocessors and integrated circuits in Yen Binh I Industrial Zone, Pho Yen District with the total investment of 1.2 billion US dollars. This is the secondary factory to provide the components for the main factory of Samsung Electronics invested in Pho Yen.

At the meeting, Mr. Long expressed his delight to welcome Mr. Seung Mo Ryu and the other leaders of Samsung Electro-Mechanics. He requested the company to continue accelerating its investment progress to be granted the investment certificate soon. Thai Nguyen Province will support and create the most favorable conditions for the company in labor resources, security and construction safety assurance. The Provincial People’s Committee will be ready to solve the problems arising during the implementation of the project. He also hoped the project, when completed and put into operation, will actively promote the general socio-economic development of the province, including Pho Yen District, which is now on its way to become a town in the future.

Mr. Seung Mo Ryu thanked the Chairman for warmly welcoming and added Samsung Electro-Mechanics has invested in many localities, but this project is the biggest ever. Electricity for production and employees selection are the main concerns of the leaders of the company during the implementation of the project. The project is expected to be started in October this year, completed and put into operation in about 10 months. The project will need 10 thousand to 15 thousand employees by then.

The Chairman said the province is able to meet the demand from the company. Currently, 2 power transformer substations have been built in Yen Binh Industrial Zone and more will be added if necessary. For the labor resources, the province will make the best conditions for the company to recruit employees.