The facility dedicated to the production of organic light-emitting diode (OLED) displays will be situated in the Yen Phong industrial park in Bac Ninh province, east of Hanoi, and near an existing Samsung Electronics plant, according to a government statement following a meeting between Prime Minister Pham Minh Chinh and Choi Joo Ho, the General Director of Samsung Group in Vietnam.
Samsung Display operates as a subsidiary of Samsung Electronics, the leading company within the Samsung group.
On Sunday, Bac Ninh authorities and Samsung Display also finalized a memorandum of understanding regarding the project, local media reported, noting that this investment will increase the Samsung group’s total investment in Bac Ninh from $6.5 billion to $8.3 billion.
Samsung Group did not immediately provide a comment on this development.
Over the past decade, Vietnam has become one of the most appealing production centers for electronics manufacturers.
Choi mentioned that the Samsung group has set up six manufacturing facilities, one research and development center, and one sales office in Vietnam, with a total investment amounting to $22.4 billion.
