South Korean electronics giant Samsung plans to expand its production in a Vietnam plant with $1.8 billion. The expansion will focus on OLED (Organic Light-Emitting Diode) displays for automobiles and technology equipment.
This news comes after the meeting between Prime Minister Minh Chinh and the General Director of Samsung Vietnam, Choi Joo Ho. Bac Ninh authorities, where the manufacturing will take place, and Samsung Display also signed a memorandum of understanding of the project, local media reported. It also added that the investment would raise Samsung’s total investment in Bac Ninh to $8.3 billion from the current $6.5 billion.
According to Choi, Samsung has established six manufacturing plants, one research and development centre and one sales unit in Vietnam with a collective investment of $22.4 billion. Vietnam is one of the most attractive production hubs of electronics in companies and Samsung contribution is significant to its success.
