Fresh infusion takes LG Display’s Vietnam investment to $3.25 bln
In this article (5)
LG Display will invest an additional $725 million in its manufacturing facility in the northern port city of Hai Phong to take its total investment to $3.25 billion.
The money will be used to expand the factory starting in March. Manufacturing will begin in May.
It will create 5,000 new jobs, and contribute around $5 million annually to the government’s coffers.
LG Display first invested in Hai Phong in April 2016, and currently employs over 13,900 people.
Questions & Answers
Q.What is the total investment LG Display has made in its Hai Phong facility?
What is the total investment LG Display has made in its Hai Phong facility?
LG Display's additional $725 million investment brings its total commitment in the Hai Phong manufacturing facility to $3.25 billion. This expanded investment underscores its long-term presence in the region.
Q.When will the expansion of the factory begin and manufacturing start?
When will the expansion of the factory begin and manufacturing start?
The expansion work on the factory is scheduled to commence in March. Manufacturing operations resulting from this expansion are then expected to begin two months later, in May.
Q.How many new jobs will be created by this additional investment?
How many new jobs will be created by this additional investment?
The investment is projected to generate 5,000 new employment opportunities. These jobs will contribute to the local economy and support the increased manufacturing capacity at the facility.
Q.How much will LG Display contribute to the government's annual revenue from this investment?
How much will LG Display contribute to the government's annual revenue from this investment?
LG Display's expanded operations are expected to contribute approximately $5 million annually to the government's finances. This represents a significant financial boost to public coffers.
Reader pulse
LG Display’s Vietnam expansion:
22,764 votes so far