The factory will produce new-generation OLED screens and create 6,000 jobs. It will be built on an area of more than 40ha at Trang Due Industrial Zone and construction will begin in early May.
Addressing the signing ceremony, Le Van Thanh, Chairman of the City People’s Committee, said the project is very significant to the development of the city.
“We pledged to create the best possible conditions for LG to implement the project,” Thanh promised.
Cheoldong Jeong, LG Displays executive vice president , said this was the first OLED screen production project that LG Displays carried out and hoped it would become the leading model in Haiphong and Vietnam as well.
Earlier, the US$1.5 billion LG Electronics Vietnam Haiphong project was put into operation in March 2014.