Chairman of Ha Noi People's Committee Nguyen Duc Chung (third right) hands over investment certificate to a representative of Samsung Electronics Viet Nam. — VNS Photo

HA NOI (Biz Hub) — The Ha Noi People's Committee on Wednesday issued an investment certificate to Samsung Electronics for a research and development centre in Hoang Mai District.

To cost US$300 million, the 21-storey centre will develop high-tech electrical, electronic and telecom products.

Construction will begin next July, and it will open in January 2020 when it will hire 4,000 employees.

Speaking at the licensing ceremony, Ha Noi chairman Nguyen Duc Chung said the project would help the city attract more foreign direct investment and develop skilled human resources and high technology.

Ha Noi has attracted FDI worth over $810 million in the first quarter, five times the amount in the same period last year.

Samsung is one of the biggest investors in Viet Nam, with a report from the Ministry of Planning and Investment saying it had invested over $14 billion as of September 2015 in many big projects in the northern provinces of Bac Ninh and Thai Nguyen and in HCM City. —VNS