Asia Tech Wire (July 2) -- Samsung Electronics plans to make Vietnam its largest production base for display modules.

Vietnamese Prime Minister Pham Minh Chinh, who is visiting South Korea, met with Samsung Electronics Chairman Lee Jae-yong on Tuesday, according to a statement on the Vietnamese government's website.

Lee said at the meeting that Samsung Electronics plans to invest heavily in Vietnam over the next three years to make it the company's largest display module production base in the world.

Pham led a team that arrived in Seoul on Sunday and held talks with representatives of 20 leading Korean companies on Monday.

Samsung is the largest foreign direct investor in Vietnam, with its investment totaling $22.4 billion as of May.

Park Hark-Kyu, chief financial officer of Samsung Electronics, who visited Vietnam in early May, said in a meeting with Pham that the company plans to increase its investment in Vietnam by $1 billion a year.