HANOI (Reuters) – South Korean digital provider Samsung Display Co intends to spend $1.8 billion for a producing facility this 12 months in north Vietnam to generate OLED screens for autos and fashionable know-how gadgets, the Southeast Asian nation acknowledged on Sunday.
The brand-new middle for the manufacture of pure light-emitting diode (OLED) screens will definitely be present in Yen Phong business park in Bac Ninh district japanese of Hanoi and close to an present Samsung digital gadgets plant, the federal authorities acknowledged in a declaration launched after the convention in between Prime Minister Pham Minh Chinh and the General Director of Samsung Vietnam Choi Joo Ho.
Bac Ninh authorities and Samsung Display on Sunday moreover licensed a memorandum of understanding of the duty, regional media reported, together with the monetary funding will surely enhance Samsung’s full monetary funding in Bac Ninh to $8.3 billion from the current $6.5 billion.
Vietnam has greater than the final years turned amongst one of the vital interesting manufacturing facilities for digital gadgets enterprise.
According to Choi, Samsung has really developed 6 manufacturing unit, one r & d centre, and one gross sales entity in Vietnam, with an advancing monetary funding of $22.4 billion.
(Reporting by Phuong Nguyen; Editing by Christian Schmollinger)
