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  • News
  • News in Vietnam
  • 27 September 2021

LG invests an additional $1.4 billion in a project in Hai Phong

The LG Display Hai Phong project continues to receive an additional $1.4 billion in investment this year.

Hai Phong City’s web portal said that on the morning of August 31, the Management Board of Hai Phong Economic Zone had granted a certificate of investment registration to increase capital to LG Display Vietnam Hai Phong Company. With the new investment, LG Display will raise the total investment capital to 4.65 billion USD and become the largest foreign investor in this locality.

This is the second time this year that LG Display Vietnam Hai Phong has received additional capital. Previously, in February, that poured the business another 750 million USD.

LG Display Hai Phong project located in Trang Due industrial park was first granted investment certificate in April 2016, with a capital of 1.5 billion USD, specializing in manufacturing plastic OLED screens for mobile devices, OLED TV screens, LCD screens…

With this new investment, LG Display will increase the production of plastic OLED screens from 9.6-10.1 million units to 13-14 million units per month. Export revenue is expected to increase by about 6.5 billion USD a year, contribute about 25 million USD to the state budget and create more jobs for 10,000 workers.

(Source: Vnexpress)