HCMC – Samsung Display has signed a memorandum of understanding with the government of Bac Ninh Province to invest US$1.8 billion in a factory that makes display screens and electronic components at the Yen Phong Industrial Park.
The signing ceremony was held on September 22 as part of the province’s 2024 investment promotion conference, with Prime Minister Pham Minh Chinh and Minister of Science and Technology Huynh Thanh Dat attending.
When the investment procedures for this project are completed, the total investment of Samsung Display in Bac Ninh will rise to US$8.3 billion, according to the Bao Dau Tu news site.
As a result, Samsung’s total investment in Vietnam will increase to US$24.2 billion, around 36 times greater than the investment pledge of US$670 million made in 2008 for the Samsung Electronics Vietnam (SEV) factory in Bac Ninh.
At the conference, the province presented investment registration certificates to and signed memorandums of understanding with several foreign investors.
VietinBank Trade -Union Invesment Joint Stock Company received approval for investment in the construction of the Hong Hac – Xuan Lam ecological urban area in Thuan Thanh Town, with total capital of over US$1 billion.
Amkor Technology Vietnam will pour an additional US$1.1 billion into its factory that produces, assembles, and tests semiconductor materials and equipment.
In addition, several large projects in the electronics sector have been granted investment registration certificates, such as the FCPV Foxconn Bac Ninh factory (Foxconn Singapore) with registered capital of over US$383 million and the electronic components manufacturing plant of Goertek Vina with registered capital of US$280 million.
