Hai Phong city and Hai Duong province have welcomed big high-tech foreign direct investment (FDI) projects this month (Photo: VNA) Hanoi (VNA) – Northern Hai Phong city and Hai Duong province have welcomed big high-tech foreign direct investment (FDI) projects this month, with a combined investment of over 850 million USD. The Hai Phong People’s Committee recently licensed a 500 million USD increase in FDI into an organic light emitting diode (OLED) display production and outsourcing project by the Republic of Korea’s (RoK) LG Display Co. Ltd. The project, which was initially worth 1.59 billion USD, received approval to be built on a 54ha site at the Trang Due Industrial Zone in Hai Phong in April, 2016. It included the construction of a factory producing OLED panels for TVs, mobile phones, smart watches, and tablets; as well as 13 residential buildings that can accommodate up to 12,000 workers at the industrial park. Put into operation last year, the project is LG Display’s first OLED display production site situated outside the RoK territory. Most of its products are targeted towards the world market, with around 20 percent of output serving domestic consumption. Similarly, 312 million USD was also added to the… Read full this story
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