New Investment in High-Tech Manufacturing
Samsung Display, a branch of the South Korean electronics manufacturer, has announced a significant investment of US$1.8 billion to establish a new factory in northern Vietnam. This facility will focus on the production of OLED (organic light-emitting diode) displays, which are widely used in automotive and technology equipment. The decision underscores Samsung’s commitment to enhancing its manufacturing capabilities and expanding its technological footprint in Southeast Asia.
Strategic Location and Investment Growth
The upcoming OLED display manufacturing plant will be situated in Yen Phong Industrial Park, Bac Ninh province, strategically located east of Hanoi and near an existing Samsung electronics plant. This new investment will increase Samsung’s total investment in the Bac Ninh region to US$8.3 billion, up from the current US$6.5 billion. The enhancement of Samsung’s investment portfolio in the area was highlighted during a meeting between Vietnamese Prime Minister Pham Minh Chinh and Choi Joo Ho, the General Director of Samsung Vietnam.
Vietnam as a Key Player in Electronics Manufacturing
Over the past decade, Vietnam has established itself as a key hub for electronics manufacturing, attracting major global companies. Choi noted that Samsung has significantly contributed to this growth, with six manufacturing plants, one research and development center, and one sales entity in Vietnam, representing a cumulative investment of US$22.4 billion. The new facility is expected to further boost Vietnam’s standing in the global electronics market.
