By Li Panpan

(JW Insights) Aug 29 -- China's display giant BOE will build the second phase of the company's Vietnam project to produce TV, MNT, and electronic shelf labels(ESL) through its Beijing subsidiary, announced the company on August 28.

The project will involve an investment of RMB2.021 billion ($277.45 million) and will take 14 months in Ba Ria-Vung Tau Province, Vietnam.

BOE said that Vietnam is located in Southeast Asia, with a stable political situation, sound economic development, and free trade agreements with many countries. Its products will enjoy preferential tariffs, help improve profitability and consolidate its position in the industry.

Another advantage of Vietnam is in its sufficient labor force, cost of labor and energy use, beneficial for reducing manufacturing cost and improving product competitiveness, said BOE.

After the project's completion, the first phase's production lines will be transferred to the new site. It will help the company localize supporting capabilities and create stability in the whole overseas complete operation.