Prime Minister Nguyen Xuan Phuc attended the inauguration ceremonies for LG Display’s US$1.5 billion project and the $41.8 million Nguyen Binh Khiem interchange in the northern port city of Hai Phong on Monday.
LG Display’s project, specialising in producing organic light-emitting diode (OLED) screens for smartphones, smartwatches and tablets is expected to create 6,000 jobs for local labourers and boost the northern city’s exports by $3 billion per year when it becomes operational.
This plant marks the first overseas OLED screen production project for South Korea’s LG Display.
PM Phuc said that the project, which started construction in May 2016 in Trang Due Industrial Zone, contributes to fostering the strategic partnership between Viet Nam and South Korea.
He also highly appreciated LG Display’s investments in building houses and canteens for workers and urged the South Korean display manufacturer to increase the local procurement rate, promote safe production and sustainable investment in Viet Nam.
The Government of Viet Nam and local authorities in Hai Phong would strive to improve the investment climate to create favourable conditions for both foreign and domestic investors, Phuc said.
Phuc believed LG Display would contribute to turning Hai Phong into an electronic production hub in Viet Nam.
|A view of Nguyen Binh Khiem interchange in Hai Phong, which opened on Monday. – VNA/VNS Photo Lam Khanh|
On the same day, Phuc attended the ribbon-cutting ceremony for the Nguyen Binh Khiem interchange.
The project, including a four-lane flyover which is 252.2 metres long and 18.5 metres wide, was completed in nine months, 18 months ahead of schedule.
This was a part of project upgrading the road from Nguyen Binh Khiem crossroads to Dinh Vu Dam which plays an important role in facilitating goods transportation via Hai Phong Port.
Statistics show that 90 per cent of goods to and from the northern region’s largest port are transported via Nguyen Binh Khiem interchange.
In 2017, the goods volume transported through Hai Phong Port was estimated at 92 million tonnes.