Samsung to invest $1.8b in OLED plant in Vietnam

South Korea’s Samsung Display Co plans to invest $1.8 billion to build a new factory in northern Vietnam for the production of OLED displays for automobiles and technology equipment.

The new facility will be located in Yen Phong industrial park in Bac Ninh province, close to an existing Samsung Electronics plant. The investment will increase the Samsung group’s total investment in Bac Ninh to $8.3 billion.

Samsung Display is a subsidiary of Samsung Electronics, the flagship company of the Samsung group. The memorandum of understanding (MoU) for the project was signed between Bac Ninh authorities and Samsung Display on Sunday.

Vietnam has become a popular destination for electronics companies, attracting significant investments in recent years. The Samsung group has established six manufacturing plants, a research and development centre, and a sales entity in Vietnam, with a cumulative investment of $22.4 billion.

Attribution: Reuters

Subediting: M. S. Salama