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HANOI (Reuters) – South Korean digital producer Samsung (KS:) Show Co plans to take a position $1.8 billion for a manufacturing facility this yr in northern Vietnam to provide OLED shows for cars and expertise gear, the Southeast Asian nation stated on Sunday.
The brand new facility for the manufacture of natural light-emitting diode (OLED) shows shall be positioned in Yen Phong industrial park in Bac Ninh province east of Hanoi and near an present Samsung electronics plant, the federal government stated in an announcement launched after the assembly between Prime Minister Pham Minh Chinh and the Normal Director of Samsung Vietnam Choi Joo Ho.
Bac Ninh authorities and Samsung Show on Sunday additionally signed a memorandum of understanding of the venture, native media reported, including the funding would elevate Samsung’s whole funding in Bac Ninh to $8.3 billion from the present $6.5 billion.
Vietnam has over the past decade emerged as one of the engaging manufacturing hubs for electronics corporations.
In line with Choi, Samsung has established six manufacturing vegetation, one analysis and improvement centre, and one gross sales entity in Vietnam, with a cumulative funding of $22.4 billion.
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