A corner of Saigon Hi-tech park in HCM City. The city will spend VND1 trillion to build infrastructure serving for a project of Samsung Vietnam. — Photo vir.com.vn

HCM CITY (Biz Hub) — Ho Chi Minh City will spend VND1 trillion (US$46.5 million) on infrastructure development to support the implementation of Samsung's $1.4 billion project at the Sai Gon Hi-tech park.

The announcement was made by the city's chairman at a meeting on January 21, newswire dddn.com.vn reported.

Le Hoang Quan, chairman of the HCM City's People's Committee, disclosed the sizeable spending at a meeting with Han Myoung Sup, who was appointed as Samsung Vietnam's general director on January 19, and other representatives from the company.

The city's funds will be spent on site clearance, bridge and road construction to facilitate the implementation of the Samsung CE Complex (SECC) project.

The project, which was granted an investment certificate on October 1, 2014, is expected to help boost the city's socio-economic development, according to Quan.

Spread over 70 hectares, the $1.4 billion SCEC project is designed for the research, development and manufacturing of high-technology home appliances, such as TVs, printing machines, air conditioners, and refrigerators.

Samsung will also establish a research and development centre to study programmes and applicable software for the project's electronic products.

General Director Han Myoung Sup said the SCEC project is expected to break ground during the initial months of 2015 and will become operational during the second quarter of 2016.

He added that this is Samsung's largest project in South-East Asia.

The project will employ 6,000 workers, once it is complete.

Samsung Vietnam is currently running two plants in the northern Bac Ninh and Thai Nguyen provinces. — VNS