Samsung plans to invest heavily in factories in Vietnam

On the morning of July 2, in the capital Seoul, during his official visit to Korea, Prime Minister Pham Minh Chinh received Mr. Lee Jae Yong - Chairman of Samsung Group, according to the Ministry of Foreign Affairs .

At the meeting, Samsung Chairman 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 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 the factory in Vietnam the group's largest display module production base globally.

The Prime Minister highly appreciated the results of Samsung Group in the process of investing and doing business in Vietnam.

The Prime Minister assessed that there were "six outstanding achievements" in the cooperative relationship between Vietnam and Samsung over the past year after the meeting between the Prime Minister and Samsung Chairman Lee Jae Yong in Hanoi (June 2023) during President Yoon Suk Yeol's state visit to Vietnam.

These "6 positive points" include: 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; the removal of difficulties and obstacles related to Samsung's operations has been positive despite legal problems both in Vietnam and the world; the two sides have promoted Samsung's recovery process after the COVID-19 pandemic; together looking towards a better future, focusing on research, development and emerging industries such as semiconductor chips, artificial intelligence, etc.

The Prime Minister welcomed Samsung's intentions to cooperate in the coming time with new products and new results, especially creating breakthroughs in cooperation in the fields of digital economy, green economy, and circular economy.

The Prime Minister hopes that Samsung will continue to expand investment, expand markets, diversify supply chains and linkage chains, consider Vietnam as a strategic production base, research and development, and manufacture key products for the international market.

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.

The Prime Minister suggested that Samsung increase the localization rate, support Vietnam in further improving 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.

The Prime Minister also proposed promoting the activities of Samsung's R&D Center in Hanoi; supporting the training of high-quality human resources in emerging fields, and supporting Vietnam in promoting innovation, startups, research, and application of science and technology.

The Prime Minister highly appreciated the leadership of Samsung Vietnam for being very responsible, enthusiastic, and determined in their work, always urging Vietnam to accompany Samsung; reiterated the wish to have Vietnamese people join the leadership of Samsung Vietnam in the near future and affirmed that if Korean management technology is combined with Vietnamese intelligence, success will certainly be achieved.

Source: https://laodong.vn/thoi-su/samsung-co-ke-hoach-dau-tu-manh-cho-nha-may-tai-viet-nam-1360627.ldo