HANOI (Reuters) – South Korean digital supplier Samsung Display Co intends to spend $1.8 billion for a manufacturing facility this year in north Vietnam to generate OLED screens for autos and modern technology devices, the Southeast Asian nation stated on Sunday.
The brand-new center for the manufacture of natural light-emitting diode (OLED) screens will certainly be found in Yen Phong commercial park in Bac Ninh district eastern of Hanoi and near an existing Samsung electronic devices plant, the federal government stated in a declaration launched after the conference in between Prime Minister Pham Minh Chinh and the General Director of Samsung Vietnam Choi Joo Ho.
Bac Ninh authorities and Samsung Display on Sunday additionally authorized a memorandum of understanding of the task, regional media reported, including the financial investment would certainly increase Samsung’s complete financial investment in Bac Ninh to $8.3 billion from the present $6.5 billion.
Vietnam has more than the last years became among one of the most appealing manufacturing centers for electronic devices business.
According to Choi, Samsung has actually developed 6 factory, one r & d centre, and one sales entity in Vietnam, with an advancing financial investment of $22.4 billion.
(Reporting by Phuong Nguyen; Editing by Christian Schmollinger)
