Factory in Vietnam will become the largest module production base

On the afternoon of July 2, Prime Minister Pham Minh Chinh received Samsung Group Chairman Lee Jae-yong within the framework of his official visit to Korea.

Mr. Lee Jae-yong thanked the Government for its support as well as the Prime Minister for taking the time to attend the opening ceremony of Samsung's Research and Development Center in Hanoi (December 2022), as well as planning to visit Samsung's semiconductor factory during this visit.

Prime Minister Pham Minh Chinh received Samsung Chairman Lee Jae-yong.

After 16 years, the cooperative relationship between Samsung and Vietnam has developed brilliantly, accompanying the development of Vietnam - "Vietnam's success is Samsung's success, Vietnam's development is Samsung's development".

Currently, there are 310 Vietnamese companies that are partners in Samsung's production chain with 2,500 engineers and researchers at Samsung's Research and Development (R&D) Center in Hanoi.

Mr. Lee Jae Yong said that as the largest foreign investor and largest exporter of Vietnam, Samsung is committed to always accompanying Vietnam in sustainable development in accordance with the spirit of "harmonious benefits and shared risks" that Prime Minister Pham Minh Chinh has mentioned many times.

In particular, Samsung plans to invest heavily in the next 3 years to make its factory in Vietnam the group's largest display module production base globally.

Prime Minister Pham Minh Chinh highly appreciated the results of Samsung Group in the process of investing and doing business in Vietnam, actively contributing to the development of products applying modern technology, Vietnam's import and export and socio-economic development.

The Head of Government also assessed 6 outstanding points in the cooperation relationship between Vietnam and Samsung. Accordingly, the connection between the two sides is closer, Samsung leaders have had many meetings with the Prime Minister to promote cooperation.

Samsung's R&D Center has been put into operation with good results; the connection and cooperation between Samsung and the National Innovation Center of Vietnam has been promoted, especially in human resource training.

In addition, the removal of difficulties and obstacles related to Samsung's operations is taking place positively despite legal problems both in Vietnam and the world; the two sides promote Samsung's recovery process after the pandemic; together look towards a better future, focusing on research, development and emerging industries such as semiconductor chips, artificial intelligence (AI) ...

Regarding the issue of support that many investors, including Samsung, are interested in, the Prime Minister said that the Vietnamese Government is drafting a decree on the establishment, management and use of the Investment Support Fund to ensure the stability, competitiveness and attractiveness of the investment environment. Attracting corporations and enterprises to invest in large projects in investment-encouraged fields such as high technology, semiconductor chips, AI, R&D centers, etc.

Prime Minister asks Samsung to increase localization rate in products in Vietnam

The Prime Minister said that Vietnam is continuing to negotiate free trade agreements and expand new export markets such as the Middle East, South America, and Africa, which will also help Samsung products expand their markets.

In addition, he suggested that Samsung increase the localization rate and support Vietnam to further improve the capacity of domestic enterprises so that they can participate more effectively in the group's value chain. Promote cooperation to bring digital technology enterprises and Vietnamese partners to become partners in Samsung's ecosystem to research and develop new breakthrough products.

Reiterating his wish to have Vietnamese people join the leadership of Samsung Vietnam in the near future, he said that if Korean management technology is combined with Vietnamese intelligence, success will certainly be achieved.

In Vietnam, Samsung has invested 22.4 billion USD with a workforce of about 90,000 people. In 2023, Samsung Vietnam exported 55.7 billion USD.

Source: https://thanhnien.vn/chu-cich-samsung-nha-may-tai-viet-nam-se-thanh-cu-diem-san-xuat-module-lon-nhat-185240702125740686.htm