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Gov’t committed to supporting Samsung in expanding investment in Vietnam
Hai Yen 22:18, 2022/01/20
The Vietnamese Government sees Samsung as a successful investment model in Vietnam.

The Vietnamese Government is committed to creating the utmost conditions for Samsung to further expand investment and production activities in Vietnam, to form a closed-loop production chain in the fields of electronics/electricity.

 Prime Minister Pham Minh Chinh (r) and General Director of Samsung Vietnam Choi Joo Ho (l). Photos: Nhat Bac

Prime Minister Pham Minh Chinh stressed the view in a meeting with the General Director of Samsung Vietnam Choi Joo Ho on January 20.

“Local authorities are willing to assist Samsung in finding a suitable location to set up a hi-tech battery manufacturing plant,” Chinh said.

According to Chinh, Vietnam-South Korea's strategic partnership has been progressing significantly in the past few years, in which Samsung’s operations in Vietnam have been a highlight.

Chinh spoke highly of Samsung’s strong business performance in Vietnam despite the severe Covid-19 impacts, posting a 14% year-on-year increase in revenue this year to $74 billion.

He welcomed Samsung’s decision to consider Vietnam as its global hub through long-term investment strategy, with the latest being the largest R&D center in Southeast Asia being built in Hanoi.

For his part, Chinh noted the Vietnamese Government sees Samsung as a successful investment model in Vietnam, as such, it is willing to learn about every concern from investors and support their operations to ensure success in Vietnam.

The Government leader said Vietnam was forced to put in place strict measures to fight off the pandemic last year, partly due to the lack of vaccines and limited healthcare capabilities.

 Overview of the meeting. 

“With the spirit of sharing benefits and risks, the Vietnamese Government has been trying to mitigate negative impacts from such measures to production activities,” Chinh said.

This year, Vietnam has already launched a second vaccination program, focusing on workers in industrial parks for better risk management and avoiding risks of disruption, he continued.

Chinh asked Samsung to continue supporting Vietnamese enterprises in further integrating into the Group’s global supply chains; raising the localization rate and serving as a bridge to encourage their business partners to come to Vietnam at a time when the global supply chains undergo a reshaping process.

Chinh reiterated his expectation that Vietnamese personnel would soon join the leadership of Samsung in Vietnam.

Samsung General Director Choi Joo Ho expressed his impression of Vietnam’s effective fight against the pandemic and efforts for socio-economic development in 2021, especially a 23% increase in export-import growth.

Choi said Vietnam’s timely change in Covid-19 strategy to safe living with the pandemic, as well as other support for businesses, have significantly offset impacts from the pandemic.

He informed Samsung’s R&D center in Hanoi is set to be completed ahead of schedule in 2022 and expected greater results in cooperation from the two sides in years to come.

TAG: Vietnam Samsung Covid-19 Vietnam South Korea Vietnam
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