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Focused on screens for the automotive and technology sectors, Samsung's new factory reinforces the South Korean giant's global presence and expands its production capacity for OLED displays.
Samsung, one of the world’s largest electronics manufacturers, has announced a major new step in its global expansion with the construction of a new OLED display factory in Vietnam. The investment, which amounts to US$1,8 billion, will be allocated to a facility in Bac Ninh province, in the Yen Phong industrial park, which will focus on the production of OLED displays aimed at the automotive market and high-end technological devices. Samsung’s new factory reinforces the company’s strategy to diversify its global production and meet the growing demand for OLED displays, one of the most advanced and sought-after components today.
Samsung's cumulative investment in Vietnam reaches $8,3 billion
With this new contribution, the accumulated investment of Samsung in Vietnam reaches the mark of US $ 8,3 billion, further strengthening its presence in the Asian country. Since it began investing in Vietnam, the South Korean giant has built six factories and a research and development (R&D) center, establishing the country as one of the company's largest production hubs.
Samsung's new factory will be responsible for manufacturing OLED screens, which are used in a variety of products, such as smartphones, tablets, TVs and, more recently, in automotive sector. The choice of Vietnam to host this new facility reflects the country's strategic importance for global electronics production, as well as its skilled workforce and lower operating costs.
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Bac Ninh Province: One of the largest electronics production centers in Vietnam
The province of Bac Ninh has already established itself as one of the largest electronics production centers in Vietnam. The Yen Phong Industrial Park, where the new factory will be built, is one of the most important industrial hubs in the region. Samsung has already invested $6,5 billion in the site, and the addition of $1,8 billion further increases its relevance to the company's operations.
In addition to Samsung, Bac Ninh province has also attracted other major investments from companies such as Foxconn and Amkor Vietnam, demonstrating the country's growing appeal as a major global manufacturing hub.
International cooperation and innovation
The announcement of Samsung's new factory was made after a meeting between Vietnam's Prime Minister Pham Minh Chinh and Samsung Vietnam CEO Choi Joo Ho. The Vietnamese government sees Samsung as a key strategic partner in developing the country's electronics sector.
Samsung has also strengthened its global partnerships, such as the recent contract with Vodafone Idea to supply network equipment, in a deal of US $ 3,6 billion which also includes the Nokia and Ericsson. This global expansion demonstrates how Samsung is establishing itself as a leading technology supplier in different markets, beyond consumer electronics.
A production hub for the future
In recent years, Vietnam has emerged as a top destination for major technology companies looking to expand their manufacturing capabilities. With Samsung’s new factory, the country further strengthens its position as a manufacturing hub for High technology. The Vietnamese government, for its part, continues to attract large companies with tax incentives and policies that support innovation and industrial development.
On Sunday, Bac Ninh province approved a total of 18 new projects, with a promised investment of more than US$5,5 billion, including companies such as Foxconn and Amkor Vietnam. These investments demonstrate the growth potential of Vietnam’s industrial sector and the country’s importance to global electronics production.
