Leaders of Vinh Phuc Province and South Korea's Power Logics Vina Co., Ltd cut the ribbon to inaugurate its first factory in Viet Nam at Khai Quang Industrial Zone in Vinh Yen City. — Photo baovinhphuc.com.vn

VINH PHUC (Biz Hub) — South Korea-owned Power Logics Vina Co., Ltd, on July 31, inaugurated its first factory in Viet Nam at Khai Quang Industrial Zone in the northern province of Vinh Phuc.

The factory covers an area of 2.3 hectares and employs 500 local workers. It will focus on producing and assembling electronic parts, such as intelligence modules and camera modules for Samsung's smartphones. The factory is expected to produce about 4.8 million electronic parts per month.

The company was awarded an investment certificate in December 2013 and registered a charter capital of US$5 million.

Vinh Phuc has called upon and encouraged investments in the support industry in the province. In the first six months of this year, the province has given investment certificates to 39 projects, including 18 which are foreign direct investment (FDI) projects with a total investment of $182.1 million. — VNS