Samsung Display Vietnam Company plans to invest $1.8 billion in a factory producing screens for electronic devices, and electronic components at Yen Phong Industrial Park in northern Bac Ninh province.

The provincial authorities are scheduled to grant an investment license to the company at the province’s investment promotion conference slated for September 15.

Samsung started to invest in Bac Ninh in 2008 with an initial investment capital of $670 million.

After a decade, it became the biggest foreign investor in Vietnam with a total investment capital of over $22.4 billion, of which over 50% were invested in Bac Ninh.

Samsung plans to strongly boost investment into Vietnam in the next three years to turn the country into its biggest module display manufacturing hub across the globe. Under the plan, the group will invest additionally $1 billion in Vietnam annually in the coming time.