Samsung plans to invest $1.8bn in Vietnam for OLED displays

HANOI (Reuters) -- South Korea's Samsung Display plans to invest $1.8 billion for a factory in northern Vietnam to produce OLED displays for automobiles and technology equipment, the Southeast Asian country said on Sunday.

The new facility for the manufacture of organic light-emitting diode (OLED) displays will be located in Yen Phong industrial park in Bac Ninh province east of Hanoi and close to an existing Samsung Electronics plant, the government said in a statement released after the meeting between Prime Minister Pham Minh Chinh and Choi Joo Ho, the General Director of Samsung group in Vietnam.