With a total capital of more than $275 million, the project specialises in assembling and manufacturing televisions, and high-resolution screens for computers, electronic components, and plastic components. The project has a capacity of over 134.7 million products per year.

With this project, BOE is expected to generate a revenue of $1 billion per year and create jobs for more than 4,000 workers.

Chen Yanshun, chairman of BOE, emphasised Vietnam's strategic location for BOE’s overseas growth, and the smart terminal business as an important focus of BOE’s Internet of Things transformation.

BOE has a plan to strengthen its global presence and services through this project with a view to delivering competitive products and quality services worldwide while building an industry ecosystem with partners.

Established in 1993, BOE has set up marketing bases in many major cities around the world, with popular business activities in the United States, Germany, Japan, Korea, Singapore, India, Vietnam, and many other countries and regions.

BOE has also launched the development strategy "Internet of Things for Displays," which allows displays to integrate more functions and create more forms. The group aims to lead the way in the semiconductor display industry with a new context application innovation model, bringing the global display industry market into a broader growth space.

Speaking at the groundbreaking ceremony, Nguyen Van Tho, Chairman of Ba Ria-Vung Tau People's Committee, said that the project of BOE was in line with the province's investment attraction policy.

"From informing provincial leaders to obtaining investment decisions, submitting documents, and starting the project, everything took place in a very short time. This demonstrates the trust of businesses in the investment environment of Ba Ria - Vung Tau. Along with this is the full support of the province, demonstrating efforts in administrative reform, improving the investment environment, business openness, equality, friendliness, and transparency for investors."

Tho also noted that during the construction process, the enterprise needed to comply with legal regulations on fire prevention, security and order, and environmental sanitation, to quickly and efficiently put the project into operation.