AJU Business Daily reported Samsung may choose Vietnam in order to save production costs.
The Bac Ninh provincial People’s Committee is considering granting power to the Bac Ninh industrial park management board to directly sign an agreement for the Samsung Display’s project.
Meanwhile, the Binh Dinh provincial government held two meetings last week to discuss implementation of the Victory Nhon Hoi oil refinery project.
Samsung may invest more in Vietnam
It is expected to complete procedures to grant an investment license to the USD22bn project in the second quarter of this year.
And a build-operate-transfer (BOT) contract for the Van Phong 1 thermal power project may be signed in the third quarter of 2015, allowing an investment license for the USD2bn project to be grated this year.
In March, the EUNSAN and OUE Groups from South Korea proposed a plan to invest USD5bn in real estate near Ba Son shipbuilding facility in HCM City.
The project is expected to be launched September 2, but must first get government approval as the area earmarked for the project is under the management of the Ministry of National Defense.
Several other foreign investors are seeking approval for BOT investments in Vietnam’s electricity industry.
Economists urged caution, saying more attention should be paid to the effects of major FDI projects to Vietnam’s socio-economic development instead of focussing on registered capital.
“We should assess how FDI projects have changed the status of Vietnam’s industrial sector,” said Tran Dinh Thien, the director of the Vietnam Institute of Economics (VIE), under Vietnam Academy of Social Sciences.