Samsung Display Co. has revealed plans to invest $1.8 billion in a new factory in northern Vietnam, aimed at the production of organic light-emitting diode (OLED) displays for the automotive and tech sectors.Â
This initiative was confirmed following discussions between Prime Minister Pham Minh Chinh and Choi Joo Ho, general director of Samsung Group in Vietnam.
The new facility will be established within the Yen Phong industrial park in Bac Ninh province, strategically located near an existing Samsung Electronics plant. This development is set to enhance the region’s role as a key manufacturing hub for the company.
In conjunction with this announcement, Bac Ninh authorities and Samsung Display formalised their mission through a memorandum of understanding.Â
This latest investment will elevate the total financial commitment of the Samsung Group in Bac Ninh to $8.3 billion, revealing a valid increase from the previous $6.5 billion.
Over the past decade, Vietnam has grown to be a prime destination for electronics manufacturing, attracting numerous international companies. Choi highlighted that Samsung has established six manufacturing facilities, one research and development centre, and a sales entity in the country, with a cumulative investment reaching $22.4 billion.
With this move, Samsung aims to expand its operations in Vietnam, continuing its mission to impact the global electronics supply chain.
