Samsung to invest additional $1.8 billion in Vietnam

2024-09-24 08:25:51

Asia Tech Wire (Sep 24) -- Samsung Group intends to invest an additional $1.8 billion in Vietnam, said Choi Joo Ho, general director of Samsung Vietnam at a meeting with Prime Minister Pham Minh Chinh on Sunday.

Up to now, Samsung has six manufacturing plants, one R&D center and one sales legal entity in Vietnam, with a cumulative investment of $22.4 billion in the country.

On this basis, Samsung decided to invest an additional $1.8 billion in a new project in the northern province of Bac Ninh.

The new project will deploy a production line for OLED products for IT equipment and automobiles, in addition to producing OLED products for cell phones.

Choi expressed his hope that Vietnam will continue to create favorable conditions for Samsung's development, and continue to provide highly qualified human resources to serve Samsung's new projects.

Vietnam Samsung

Email Subscription

Newsletters and emails are now available! Delivered on time, every weekday, to keep you up to date with North American business news.

Weekly Highlights

                                    Taiwan's weighted index rose 2.6%, with semiconductor stocks leading the gains, and TSMC rising more than 4%
                            2024-12-23

                                    Huawei's Automotive BU spin-off is in the countdown, and old employees are expected to receive extra compensation when they transfer to other companies? Insider: I haven't heard of it.
                            2024-12-27

                                    Tuanmaimai, the WeChat community group buying business under Meituan (03690.HK), issued an announcement stating that due to platform business adjustments, Tuanmaimai will cease operations from 24:00 on December 31, 2024.
                            2024-12-23

                                    Mao Yinian, Vice President of Meituan: Meituan has invested in several robot companies including Yushu and Galaxy General
                            2024-12-27

                                    A-share SMIC rose more than 5%
                            2024-12-27