Kine SIC Semi, a U.S.-based semiconductor business, plans to invest $200 million in building a factory with an initial size of 7,500 square meters in Vietnam’s northern province of Bac Ninh, the firm told provincial authorities on Wednesday.
In the initial phase, the factory will employ 100 people, including 30 experts, said Johnny Nguyen, an executive of the firm, calling for support from local authorities to proceed with the investment.
In reply, Bac Ninh Vice Chairman Vuong Quoc Tuan said the province is always looking to attract semiconductor investments, and the local government is working to improve the business environment, simplify administrative procedures, and boost workforce training.
Bac Ninh has always been attracting investments in the semiconductor sector, with Amkor Technology as an example, he added. In October 2023, Amkor Technology held a grand opening for its newest factory in the province, covering 23.1 hectares at Yen Phong 2C Industrial Park.
Amkor has committed $1.6 billion for the project’s two phases, including $520 million in phase 1 to develop its most advanced facility, delivering next-generation semiconductor packaging capabilities.
Tuan also directed the provincial management board of industrial parks to cooperate with the firm on future tasks.
Bac Ninh, home to two out of four Samsung factories in Vietnam, has so far attracted 2,203 foreign direct investment (FDI) projects with total registered capital of $25.34 billion, the seventh-highest figure among all localities in the country, according to the Ministry of Planning and Investment.