Samsung will invest $1.8 billion to build a new OLED factory in Vietnam

According to the Voice of Vietnam, on the afternoon of September 22, representatives of the Bac Ninh Provincial Government of Vietnam signed a memorandum of understanding on screen and electronic component development projects with Samsung Display.

Samsung will invest $1.8 billion to build a new OLED factory in Vietnam

It is reported that Samsung Display will invest $1.8 billion (currently about RMB 12.696 billion) in Vietnam to build a new OLED factory near the Samsung Electronics factory in the Anfang Industrial Park of Bac Ninh Province.

According to reports, Samsung Group began investing in Bac Ninh Province, Vietnam in 2008 with an initial capital of $670 million (currently about RMB 4.726 billion). After more than ten years of development, Samsung has become the largest foreign direct investor in Vietnam, with a total investment of more than $22.4 billion (currently about RMB 157.997 billion), covering local provinces such as Bac Ninh and Thai Nguyen and Ho Chi Minh City. Among them, nearly 50% of the investment is concentrated in Bac Ninh.

Samsung plans to increase investment in its Vietnamese factory in the next three years to make it the world's largest display module production base.

In addition to Samsung Display, Samsung Electronics also operates a manufacturing plant in Bac Ninh Province. Currently, Samsung's mobile phone production in Vietnam accounts for more than 50% of its global production.

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