Samsung Display Co, a unit of Samsung Electronics, plans to invest an additional $1.8 billion in Vietnam to expand its OLED display manufacturing operations. The new facility, dedicated to producing organic light-emitting diode (OLED) displays for automobiles and technological equipment, will be located in the Yen Phong industrial park in Bac Ninh province, situated east of Hanoi. This investment, confirmed after a meeting between Vietnam’s Prime Minister Pham Minh Chinh and Samsung’s General Director in Vietnam, Choi Joo Ho, will further elevate Samsung’s footprint in the region.
The Bac Ninh government signed a memorandum of understanding with Samsung Display on Sunday, raising the total investment by the Samsung group in Bac Ninh to $8.3 billion, up from the current $6.5 billion. This development highlights the company’s increasing commitment to its operations in Vietnam, where it has established six manufacturing plants, a research and development center, and a sales entity, with total investments reaching $22.4 billion.
As Vietnam continues to position itself as a key production hub for global electronics companies, Samsung’s expanding investments demonstrate the country’s growing importance in the sector. The Samsung group has not yet commented further on the new investment announcement.
Featured Image courtesy of HT Tech
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