Construction of a fully-owned South Korean factory producing electronic components was kicked off on February 3 in the northern province of Yen Bai’s Tran Yen District.

Covering an area of 6.49ha in Bao Hung Commune, the Edge Glass factory has the capacity to produce 54 million products every year. It will produce 18 million products in the first year of operation, 48 million products in the second year and 54 million products in the third year.

Manufactured products will include 2D and 3D cover glass for phones and 2D cover glass for tablets. The factory also plans to produce glass for autos in future.

South Korea’s Edge Glass Joint Stock Company has invested nearly VND5 trillion (US$220 million) in the factory.

It is expected to create 1,500 jobs for local people when it becomes operational by April 2019.

Speaking at the foundation-laying ceremony, Prime Minister Nguyen Xuan Phuc said the project investment was a proof that South Korean investors highly appreciated the province’s investment climate.

The Prime Minister asked the local authorities to create favourable conditions for the investors to implement the project. He also expressed the hope that the investors would realise their commitment to protect the environment and contribute to sustainable development of the locality.

According to statistics of the Ministry of Planning and Investment, South Korea was Viet Nam’s biggest foreign direct investor in January, with a total capital of $355.6 million. This was followed by Singapore with a much lower capital of $199 million. — VNS