Samsung build new factory in Vietnam worth $ 1.8 billion

By Alimat Aliyeva

Samsung, a South Korean company, plans to invest $1.8 billion in the construction of an OLED display manufacturing plant in Vietnam, Azernews reports.

The new enterprise will be built in the north of the country next to another existing Samsung plant.

Over the past decade, Vietnam has become one of the most popular locations for manufacturing technology companies. Thus, Samsung has so far placed six factories in this country, as well as a research and development center. The volume of investments of the South Korean corporation in Vietnam reached $ 22.4 billion.

It is worth noting that Samsung announced that its operating profit in the second quarter of 2024 reached 10.4 trillion won (about 7.5 billion dollars), which is 15 times more than in the same period last year. In the second quarter of 2023, this figure amounted to 668 billion won (487 million dollars).