New Samsung factory to enhance Vietnam’s tech sector
With a cumulative investment of $22.4 billion, Samsung has established a robust presence in Vietnam’s manufacturing sector.
Samsung Display Co has unveiled plans to invest an additional $1.8 billion in a new factory located in northern Vietnam. This facility will specialise in the production of organic light-emitting diode (OLED) displays, targeting both the automotive and technology sectors. Positioned in the Yen Phong industrial park in Bac Ninh province, the site will be in proximity to an existing Samsung Electronics plant.
A memorandum of understanding was signed between Bac Ninh authorities and Samsung Display, marking a significant step for the project. With this investment, Samsung’s total financial commitment in Bac Ninh will rise to $8.3 billion, increasing from the current $6.5 billion. This development reflects the ongoing collaboration between the local government and Samsung.
Over the past decade, Vietnam has established itself as a prime location for electronics manufacturing. Choi Joo Ho, the General Director of Samsung in Vietnam, highlighted the company’s extensive presence, which includes six manufacturing plants and one research and development centre. Cumulatively, Samsung’s investments in the country now amount to $22.4 billion.
Samsung’s expansion in Vietnam signals confidence in the region’s capabilities and its strategic importance within the global supply chain. As the company continues to grow, the move is likely to bolster both local employment and the technological landscape.
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