This is the first investment project to be granted a license in the Quang Yen coastal economic zone since the government decided to establish the area last year.

Work on the plant covering 32.6 hectares at the Song Khoai industrial park in Quang Yen Town is scheduled to start late this month.

It is expected to begin operations this October, creating more than 2,000 jobs for local workers. The plant expects to earn nearly $1.3 billion in annual revenues.

Jinko Solar is one of the largest and most advanced manufacturers of solar panels in the world, holding 12.6 percent of the global market share.