Samsung Display gets license to invest $2.5 billion more in Vietnam: state TV

A file photo shows employees walking in the main office building of Samsung Electronics in Seoul

HANOI (Reuters) – Samsung Electronics Co Ltd’s display panel subsidiary has received a license to invest another $2.5 billion in Vietnam to boost capacity, Vietnam’s State Television (VTV)reported.

The extra funding will boost Samsung Display’s total investment in Vietnam to $6.5 billion and increase the South Korean firm’s screen-making capacity to 220 million products a year from 180 million now, VTV said.

Vietnam is a major smartphone manufacturing base for Samsung Electronics and its subsidiaries, which have already invested billions of dollars in the country.

(Reporting by Mai Nguyen; editing by David Clarke)