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

Google to Make End-to-End Encryption in Gmail Available to Everyone

Google plans to roll out end-to-end encryption (E2EE) of email to all users, even those…

10 hours ago

Putin Bans Government Agencies and Banks from Communicating with Clients via Foreign Messengers

Vladimir Putin signed a law aimed at protecting citizens from telephone and cyber fraudsters: employees…

10 hours ago

Blue Origin Finds Out Why It Lost Its New Glenn Rocket’s Reusable Stage During Its First Launch

The US Federal Aviation Administration (FAA) has announced that it has received a document containing…

10 hours ago

British woman accidentally throws away her fiance’s £3m Bitcoin wallet

During spring cleaning, UK resident Ellie Hart threw out a USB device with the trash,…

10 hours ago

$100 billion as a blind: experts doubt TSMC’s plans to develop factories in the US

Early last month, TSMC announced plans to spend another $100 billion to expand its U.S.…

10 hours ago