Signetics, South Korean semiconductor firm, plans to invest $100 million in building a plant in northern Vinh Phuc province, Vinh Phuc online newspaper has reported.

Song Young Hee, CEO of the firm, revealed the plan at a working session with Chairman of the provincial People’s Committee Tran Duy Dong on August 8.

The project, which covers some 5 ha in Ba Thien Industrial Park, is expected to be put into operation by late 2025.

Mr. Hee spoke highly of the investment environment and policy of Vinh Phuc. After conducting a fact-finding tour in the province, the company found Ba Thien Industrial Park suitable with its production scale and business strategy, he said.

The provincial People’s Committee asked the provincial Industrial Park Management Board to create conditions for the firm in applying for investment certificate and preparing for investment and implementation of the project.