Samsung pledges $2.5 billion FDI, asks for more investment incentivesVietNamNet Bridge - Samsung Display Vietnam (SDV) has expressed its willingness to invest $2.5 billion more in Bac Ninh province, thus raising total investment scale of the project in the locality to $6.5 billion. However, its claims for investment incentives have raised controversy. Exports revenues from the two plants of Samsung Electronics Viet Nam (SEV) in Bac Ninh Province and Samsung Electronics Viet Nam – Thai Nguyen (SEVT) in Thai Nguyen Province were estimated to reach US$35 billion in 2016, posting a 7 percent year-on-year increase despite the impact from Note 7 incident. It will be unreasonable to add the newly pledged sum of capital of $2.5 billion and the $4 billion for the operational project to calculate tax incentives.Nga believes that Samsung can enjoy investment incentives for its operational project until 2019.As for the new project capitalized at $2.5 billion, it will be able to enjoy investment incentives from 2018 to 2022. But they only disbursed money in the first year or two and then stopped disbursement due to financial difficulties.The problem was that they still enjoyed investment incentives in the first two years offered for a $10 billion project.Son noted that Samsung has received many investment incentives from the government of Vietnam and local authorities.

Source: VietNamNet News February 01, 2017 03:06 UTC