The US-based Kine SIC Semi, which specializes in semiconductor chip production, plans to invest $200 million in building a factory in northern Bac Ninh province, according to Mr. Johnny Nguyen, an executive at the company.

Mr. Nguyen has led a delegation to Bac Ninh to study its investment environment.

At a meeting with provincial authorities on February 28, he said the plant will initially be built on an area of 7,500 sq m.

He proposed that local authorities create the necessary conditions for the company to proceed with its investment plan.

Deputy Chairman of the Bac Ninh Provincial People’s Committee Vuong Quoc Tuan said the province targets becoming a semiconductor hub in Vietnam. In addition to promoting administrative reform and improving its business and investment environment to attract investors, the province has also studied issuing a resolution on supporting investment and the training of high-quality human resources for the semiconductor industry.

Bac Ninh has 16 industrial parks that are home to 2,000 projects and have an overall occupancy rate of more than 90 per cent.