Samsung Display gets licence to invest US$2.5b more in Vietnam: State TV

Employees walk in the main office building of Samsung Electronics in Seoul, South Korea, in this file photo taken on January 6, 2016. REUTERS/Kim Hong-Ji

HANOI: Samsung Electronics Co Ltd's display panel subsidiary has received a license to invest another US$2.5 billion in Vietnam to boost capacity, Vietnam's State Television (VTV)reported.

The extra funding will boost Samsung Display's total investment in Vietnam to US$6.5 billion and increase the South Korean firm's screen-making capacity to 220 million products a year from 180 million now, VTV said.

Vietnam is a major smartphone manufacturing base for Samsung Electronics and its subsidiaries, which have already invested billions of dollars in the country.

                                                                                    - Reuters