At a ceremony that sees LG Display Vietnam Hai Phong raising its investment (Photo: thanhphohaiphong.gov.vn)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./.
VNA
