Samsung Display Co. is planning to invest $1.8 billion in a factory in northern Vietnam to produce OLED displays for automobiles and technology equipment.
Recently, the Southeast Asian country released a statement that Samsung Display plans to invest $1.8 billion to build a factory in Vietnam to produce OLED displays, which are used in automobile and technology equipment.
The new facility for the manufacture of organic light-emitting diode (OLED) displays will be located in Yen Phong Industrial Park in Bac Ninh province east of Hanoi, and the location is close to an existing Samsung Electronics plant.
Samsung Display is a unit of Samsung Electronics, the premium of the Samsung group. Bac Ninh authorities and Samsung Display also signed on Sunday a memorandum of understanding of the project, local media reported. It seems that adding the investment would boost the Samsung group’s total investment in Bac Ninh to $8.3 billion. Currently, the investment is nearly $6.5 billion. However, the Samsung group has yet to respond to a request for comment.
Undoubtedly, since last decade, Vietnam has emerged as one of the most attractive production hubs for electronics companies. The Samsung Group has established six manufacturing plants, one research and development center, and one sales entity in Vietnam, with a cumulative investment of $22.4 billion.
