Samsung will continue to invest an additional 1 billion USD each year in Vietnam

Deputy Prime Minister Tran Luu Quang received General Director of Samsung Vietnam Complex Choi Joo Ho

On the afternoon of March 4, at the Government Headquarters, Deputy Prime Minister Tran Luu Quang received General Director of Samsung Vietnam Complex Choi Joo Ho.

At the meeting, General Director Choi Joo Ho said that in 2023, Samsung invested an additional 1.2 billion USD, bringing the total investment capital in Vietnam to 22.4 billion USD. Samsung will continue to invest an additional 1 billion USD each year in Vietnam. Samsung's R&D Center currently has 2,400 engineers working, of which Vietnamese engineers are the "core" force in researching AI features in the new Galaxy S24 phone line, highly appreciated by Samsung Group for their capacity.

Mr. Choi Joo Ho thanked and hoped that the Vietnamese Government would continue to create favorable conditions for Samsung's investment activities in Vietnam.

At the meeting, Deputy Prime Minister Tran Luu Quang highly appreciated Samsung's investment activities in Vietnam, which have contributed positively to Vietnam's import-export turnover and economic development. The Deputy Prime Minister affirmed that the Vietnamese Government always pays attention to and attaches importance to improving the investment environment and promoting transformation to create favorable conditions for foreign enterprises to operate long-term production and business in Vietnam.

Appreciating the team of Vietnamese engineers working at Samsung's Research and Development Center, Deputy Prime Minister Tran Luu Quang suggested that Samsung, with its experience and capacity, continue to cooperate with the National Innovation Center (NIC); supporting Vietnam in realizing the goal of training 50,000 semiconductor engineers by 2030.

Regarding cooperation with NIC, Samsung Vietnam and NIC signed a Memorandum of Understanding on Cooperation to implement high-tech development activities for the young generation of Vietnam. Regarding human resource training activities, Samsung and Hanoi National University signed a cooperation document with the goal of training about 40 excellent students of Hanoi National University to become future leaders in the semiconductor field within 4 years.

General Director Choi Joo Ho said that Samsung will continue to study the possibilities of expanding cooperation with NIC and support Vietnam in training human resources in the semiconductor industry; affirming that Vietnam's development is Samsung's development and Samsung's development will contribute to Vietnam's socio-economic development.

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