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

At the ceremony to hand over investment certificate to LG Display Vietnam Hai Phong.

It is set to begin in next month and become operational two months later, creating an additional 5,000 jobs and contributing about US$5 million annually to the State budget.

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

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

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

Hanoi faces shortage of affordable housing

Hanoi’s new housing supply last year was just 28,800 units, its Department of Construction reported to the Ministry of Construction.

Pork imports surge 382 percent

Vietnam has imported 141,140 tons of pork and related products in 2020, up 382 percent year-on-year, the General Department of Vietnam Customs has reported.

Source: Nhan Dan Online