LG Display Vietnam Hai Phong adds 1.4 billion USD in investment
The LG Display Vietnam Hai Phong Co. Ltd., has recently raised its investment by 1.4 billion USD, bringing the total investment of the entire project to 4.65 billion USD.
At a ceremony that sees LG Display Vietnam Hai Phong raising its investment (Photo: thanhphohaiphong.gov.vn)
Hai Phong (VNA) – The LG Display Vietnam Hai Phong Co. Ltd., hasrecently raised its investment by 1.4 billion USD, bringing the totalinvestment of the entire project to 4.65 billion USD.
With this adjustment, it remains the foreign-investedproject with the highest value in the port city.
LG Display Vietnam Hai Phong’s project was first approved inApril 2016 with an investment of 1.5 billion USD, specialising in theproduction of LG Corporation’s OLED and LCD screens, among others. Thanks to animprovement in Hai Phong’s investment environment, the company has increasedits investment for four times.
In 2020, it earned over 9 billion USD from exports, createdjobs for 14,000 workers and contributed 19.4 million USD to the budget.
According to the plan, the company will increase the outputof OLED screens from 9.6-10 million units per month to 13-14 million productsper month. It expects to pocket more 6.5 billion USD in export turnover,contribute additional 25 million USD to the budget and generate 10,000 morejobs.
The company’s Director General SuK Myung Su pledged to makeefforts to soon put the project into full operation.
Projects of the Republic of Korea’s LG Corporation in HaiPhong city’s Trang Due Industrial Park include LG Display Hai Phong, LGElectronics Vietnam Hai Phong and LG Innotek Hai Phong, with a combinedinvestment capital of 7.24 billion USD, accounting for 85.2 percent of the totalFDI in the industrial park and 37.13 percent of the total FDI in the northerncity./.
The Hai Phong Confederation of Labour and the trade union organisation of the Hai Phong Economic Zone on June 15 announced a decision to establish a trade union in the LG Display Vietnam-Hai Phong Co.,Ltd.
The Hai Phong Confederation of Labour and the trade union organisation of the Hai Phong Economic Zone on June 21 announced a decision to establish a trade union in the LG Innotek Vietnam-Hai Phong at Trang Due Industrial Park.
Chairman of the People’s Committee of northern Hai Phong city Nguyen Van Tung on February 7 granted a certificate to LG Display Vietnam Hai Phong’s project adding 750 million USD in investments.
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At a ceremony that sees LG Display Vietnam Hai Phong raising its investment (Photo: thanhphohaiphong.gov.vn) 
