Hai Phong grants investment approval to LG display project

The additional amount has brought the investment capital of the entire project to 3.25 billion USD in total, making it the foreign-invested project with the highest value in the port city.

As of early February, Hai Phong had attracted 823 million USD in foreign investment, rising six-fold against the amount recorded in the first two months last year. The figure is projected to hit 910 million USD by the end of this month.

The city is determined to reach this year's target of attracting over 3 billion USD in FDI and concretizing the Resolution of the XIII National Party Congress on the industrialization and modernization of the country.

LG Display Vietnam Hai Phong’s project was first approved in April 2016 with an investment of 2.5 billion USD, specialising in the production of LG Corporation’s OLED and LCD screens, among others.

In 2020, it posted 5.98 billion USD in sales revenues, a year-on-year surge of 624 percent.