Two large-scale projects open in Hai Phong
17:12 | 04/12/2017

VGP – PM Nguyen Xuan Phuc attended the inauguration ceremonies of Nguyen Binh Khiem bypass and LG Display Viet Nam Hai Phong on December 4 in Hai Phong. 

PM Nguyen Xuan Phuc attends the inauguration ceremonies of Nguyen Binh Khiem bypass, December 4, 2017 - Photo: VGP/Quang Hieu

The LG Display project started construction in May 2016 with a total investment of over US$ 1.5 billion, specializing in producing and manufacturing OLED for mobile phones, smart watch and tablets.

This was the first modern screen technology project which LG Display has invested in outside the Republic of Korea. It was also the second largest project of the group after it set foothold in Viet Nam in 2013. 

The project is expected to generate 6,000 jobs for local residents.

Addressing the event, PM Phuc expressed his impression that he attended the inauguration ceremony of a modern and high-tech factory just one and a half year since its groundbreaking ceremony.

The new factory contributed to nurturing the strategic ties between Viet Nam and the RoK. 

The Vietnamese Government chief lauded the great endeavor of the project staff, technicians, the local authorities and people. He also praised the investment environment in Hai Phong. 

PM Phuc hoped that LG Display would expand operation and raise the rate of localization towards safety and sustainable growth. 

The same day, PM Phuc cut the ribbon to open Nguyen Binh Khiem bypass to traffic. The VND 953 billion-project was finalized 18 months ahead of schedule, comprising seven lanes  with a total length of 252.2 meters and a width of 18.5 meters. 

The project is of great significance to ensure transportation to Hai Phong Port in which 90% of cargoes are transported through it. Hai Phong Port is the largest sea port in the North of Viet Nam with an average yearly output of 92 million tons of cargoes, up 15% per year./. 

By Kim Anh 

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