Samsung Display will build an OLED display plant in Vietnam

South Korean electronics maker Samsung Display plans to invest $1.8 billion this year to build a plant for the production of OLED displays for cars and technological equipment, which will be located in the Yen Phong Industrial Park in Bac Ninh province in northern Vietnam, Reuters writes, citing a statement from the Vietnamese government. , published Sunday.

Image Source: Samsung Display

The investment agreement was reached during a meeting between Vietnamese Prime Minister Pham Minh Chinh and Samsung Vietnam CEO Choi Joo Ho.

According to local media, Bac Ninh authorities and Samsung Display also signed a memorandum of understanding on Sunday for the project, which will increase Samsung’s total investment in Bac Ninh to $8.3 billion from the current $6.5 billion.

Over the past decade, Vietnam has emerged as one of the most attractive manufacturing hubs for electronics companies, Reuters noted. According to the CEO of Samsung Vietnam, the South Korean company has opened six manufacturing plants, one research and development center and one sales office here with a total investment of $22.4 billion.

Earlier, the American supplier of equipment for the production of chips, Lam Research, announced plans to locate production in Vietnam.

admin

Share
Published by
admin

Recent Posts

Kawasaki unveiled a real iron horse – a motorcycle with legs instead of wheels that jumps over ravines

Japanese company Kawasaki presented a new type of personal transport — literally an iron horse…

47 minutes ago

Kawasaki unveiled a real iron horse – a motorcycle with legs instead of wheels that jumps over ravines

Japanese company Kawasaki presented a new type of personal transport — literally an iron horse…

52 minutes ago

PlayStation 5 and Xbox Series X face 40% price hike due to new US tariffs

The decision by the US President Donald Trump administration to impose high tariffs on goods…

1 hour ago

Trump Tariffs Will Make U.S. Chip Manufacturing More Expensive

American chipmakers will soon be forced to pay more for the equipment they use to…

1 hour ago

Apple to Expand iPhone Production in Brazil to Save on Duties

Donald Trump's introduction of higher tariffs on imports from a number of countries will ultimately…

1 hour ago

Trump tariffs derail TikTok US deal despite ‘tremendous progress’

A deal to spin off TikTok's US assets has been put on hold after Beijing…

1 hour ago