Samsung Display Co., a subsidiary of Korea electronics giant Samsung Group, plans to invest an additional $1.8 billion in a new OLED manufacturing plant in northern Viet Nam. The plant will be located in Yen Phong Industrial Park, Bac Ninh province, and will focus on the production of advanced organic light-emitting diode (OLED) displays for automotive and technical equipment. The investment will increase Samsung's total investment in Bac Ninh from the current $6.5 billion to $8.3 billion.
This new investment not only reflects Samsung's confidence in Viet Nam's manufacturing capabilities, but also reaffirms the country's growing role as a global electronics production hub. Over the past decade, Viet Nam has emerged as a preferred destination for major electronics manufacturers due to its competitive labor costs, stable business environment, and favorable trade agreements.
The Viet Nam government actively supports this development through preferential policies and investment incentives, making it an ideal destination for companies looking to relocate their manufacturing base away from traditional hubs such as China. Samsung's total investment in Viet Nam now reaches $22.4 billion, with six manufacturing plants, an R&D center and a sales entity. In 2023, despite global economic challenges and a shrinking smartphone market, Samsung Viet Nam achieved a staggering export turnover of US$55.7 billion.
Pictured: Samsung plans to invest in Viet Nam
In addition, Samsung is deepening its involvement in Viet Nam's R&D ecosystem. The company employs 2,400 engineers at its R&D center in Hanoi who have been instrumental in developing cutting-edge technologies, including the AI capabilities of the new Galaxy S24 series. By integrating local talent into its global R&D network, Samsung is helping to raise Viet Nam's image as a technology research and development hub.
Samsung has also partnered with Viet Nam's National Innovation Center (NIC) to support the country's ambition to become a leader in the semiconductor industry. As part of this partnership, Samsung has pledged to help train 50,000 semiconductor engineers by 2030. This initiative is in line with Viet Nam's broader strategic goal of building a skilled workforce that can support the country's transition to more complex and higher value-added industries.
As Viet Nam continues to position itself as a key player in the global electronics supply chain, Samsung's investment will be crucial to driving the country's next phase of industrial growth.
In addition, Samsung's investment in Viet Nam is not limited to the latest $1.8 billion in OLED display manufacturing, but also includes a research and development center in Hanoi, semiconductor industry cooperation with Viet Nam's National Innovation Center, six manufacturing plants (producing electronic products such as mobile phones), sales entities, and screen and electronic component production, aiming to drive technological innovation and enhance Viet Nam's position as a global electronics manufacturing center.
