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Samsung Display Co, a South Korean electronics manufacturer, plans to invest $1.8 billion this year to build a factory in northern Vietnam to produce OLED displays for automobiles and technology equipment, according to the Southeast Asian country.
The new OLED display manufacturing facility will be situated in Yen Phong industrial park, Bac Ninh province, east of Hanoi, in close proximity to an existing Samsung electronics plant, as announced by the government following a meeting between Prime
Minister Pham Minh Chinh and the General Director of Samsung Vietnam, Choi Joo Ho.
Bac Ninh authorities and Samsung Display signed a memorandum of understanding for a new project, which will increase Samsung's total investment in Bac Ninh to $8.3 billion from the current $6.5 billion, according to local media reports.
Vietnam has become one of the most appealing production centers for electronics companies over the past decade.
According to Choi, Samsung has set up six manufacturing facilities, one research and development center, and one sales entity in Vietnam, with a total investment of $22.4 billion.
