Samsung Display Co. plans to invest an additional $1.8 billion in Vietnam to build a new facility for OLED display production, primarily for automobiles and tech equipment. The factory will be located in Bac Ninh’s Yen Phong industrial park, close to an existing Samsung Electronics plant, according to a statement released after a meeting between Vietnam’s Prime Minister Pham Minh Chinh and Samsung’s Vietnam General Director, Choi Joo Ho.
This new investment will increase Samsung’s total investment in Bac Ninh province from $6.5 billion to $8.3 billion. Over the past decade, Vietnam has become a key production hub for global electronics manufacturers. Samsung currently operates six manufacturing plants, a research and development center, and a sales entity in the country, with a total investment of $22.4 billion.