On the afternoon of April 13, Prime Minister Pham Minh Chinh received Mr. Park Hark Kyu, General Director in charge of finance of Samsung Group.
Prime Minister Pham Minh Chinh highly appreciated the business performance of the Samsung Group in Vietnam with its rapid disbursement progress, contributing to economic restructuring, promoting exports and growth, developing supporting technology, creating jobs, contributing to Vietnam's socio-economic development, building an independent, self-reliant economy associated with proactive, active international integration, deeply, substantially and effectively.
The Prime Minister congratulated Samsung on achieving its 2022 business target, completing the construction and putting into operation the Research and Development (R&D) Center in Hanoi as committed.
Vietnam and South Korea have just agreed to upgrade their relationship to a Comprehensive Strategic Partnership on December 5, 2022, opening up new opportunities in Vietnam-South Korea cooperation in general and between businesses of the two countries in particular.
Prime Minister Pham Minh Chinh received Mr. Park Hark Kyu, General Director in charge of finance of Samsung Electronics Group.
The Prime Minister believes and hopes that, based on the foundation of good relations between the two countries, the achieved cooperation results, and trust and sincerity, Samsung will continue to be one of the leading flags promoting economic cooperation between the two countries with many new strategic projects, continuing to promote business results and expand investment activities, aiming for new and higher goals in 2023 and the following years.
The Prime Minister affirmed that the Vietnamese Government is committed to continuing to accompany, listen, dialogue, promptly remove difficulties and obstacles, have solutions suitable to the situation, and create favorable conditions for foreign investors, including Samsung, to invest effectively and develop sustainably in Vietnam with the viewpoint of "harmonious benefits and shared risks".
At the meeting, Mr. Park Hark Kyu thanked the Government and localities for their attention, companionship and support, highly appreciated Vietnam's investment and business environment; affirmed that Samsung is committed to continuing to accompany and actively contribute to Vietnam's socio-economic development.
Samsung identifies Vietnam not only as a global production base, but also aims to make Vietnam the "center of centers" for research and development globally for the Group.
He also said that the Group has achieved many results and will continue to make efforts to implement the Prime Minister's instructions when attending the inauguration ceremony of Samsung's R&D Center in Hanoi on human resource training solutions to have more Vietnamese people join the leadership team of Samsung Vietnam, increase the localization rate, domestic production value and promote cooperation with the National Innovation Center of Vietnam.
To date, there are more than 2,000 engineers working at Samsung's R&D Center in Hanoi; the number of Vietnamese tier 1 and tier 2 suppliers in Samsung's global supply chain has increased 10-fold, from 25 enterprises in 2014 to 257 enterprises by the end of 2022.
In addition, Mr. Park Hark Kyu proposed to the Prime Minister some contents on encouraging the use of "made in Vietnam" products.
General Director Park Hark Kyu and Prime Minister Pham Minh Chinh also discussed issues such as global minimum tax, economic forecasts in various countries, etc.
Acknowledging and appreciating Samsung's proposals, the Prime Minister said that the Vietnamese Government has established a special working group to research, analyze, and fully and thoroughly evaluate the impacts, continue to listen to the opinions of the parties, refer to the experiences of related countries, and promptly submit them to competent authorities for consideration and decision to have the most appropriate and optimal solutions, adapt to the situation, ensure transparency, a competitive investment environment, "harmonized benefits, shared risks" among the parties.
Samsung is the largest foreign direct investor in Vietnam. The Group's major projects are concentrated in Bac Ninh, Thai Nguyen and Ho Chi Minh City, with a total registered investment capital of about 20 billion USD.
In 2022, revenue and exports will reach 73.7 billion USD and 65 billion USD respectively. Samsung's phone production output in Vietnam accounts for about 50% of Samsung's total phone production globally.
As of November 2022, the total number of employees of Samsung Group in Vietnam is nearly 100,000 people .
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