Samsung Electro-Mechanics is expected to build a factory to produce intergrated circuits and electronic components in the northern province of Thai Nguyen.

The US$1.2 billion project is scheduled to start this October and enter operations in August 2014, by that time the total investment of the Samsung Group in Vietnam is predicted to reach US$5.7 billion.

Phan Manh Cuong, Deputy Head of the provincial Industrial Zones Management Board, said that Samsung submitted the documents requesting an investment recognition certificate for the Samsung Hi-tech Complex in the Yen Binh Industrial Zone and the group expects to receive the certificate in September.

The new factory is Samsung Group’s third investment project in Vietnam.