February 24, 2017 / 12:57 PM / 6 months ago

Samsung Display gets license to invest $2.5 billion more in Vietnam: state TV

Employees walk in the main office building of Samsung Electronics in Seoul, South Korea, in this file photo taken on January 6, 2016.Kim Hong-Ji

HANOI (Reuters) - Samsung Electronics Co Ltd's display panel subsidiary has received a license to invest another $2.5 billion in Vietnam to boost capacity, Vietnam's State Television (VTV)reported.

The extra funding will boost Samsung Display's total investment in Vietnam to $6.5 billion and increase the South Korean firm's screen-making capacity to 220 million products a year from 180 million now, VTV said.

Vietnam is a major smartphone manufacturing base for Samsung Electronics and its subsidiaries, which have already invested billions of dollars in the country.

Reporting by Mai Nguyen; editing by David Clarke

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