Samsung Vietnam would provide training for 200 Vietnamese molding technicians to support the development of Vietnam’s fundamental manufacturing industries.

Vice Minister of Industry and Trade Do Thang Hai (right) and CEO of Samsung Vietnam Choi Joo Ho. Photo: Samsung Vietnam.

The training program is part of a broader cooperation agreement between Vietnam’s Ministry of Industry and Trade (MoIT) and Samsung Vietnam under the framework of the ninth meeting of the Vietnam – South Korea Join Committee on energy, trade and industrial cooperation, which took place on October 22, 2019.

Under a four-year agreement (2020 – 2023), Samsung would hold two training courses every year with each lasting for 14 weeks, including 10 in Vietnam and four in South Korea. The first course took place on July 13 with 27 trainees.

According to the MoIT, molding is considered core industry and lays a foundation for industrial production. In this regard, the development of experts and technicians in this field is of great significance, particularly in producing hardware for electronic products or for the automobile industry.

Vice Minister of Industry and Trade Do Thang Hai said Vietnam’s molding and precision engineering industries create revenue of over US$1 billion per year with annual growth of 18%.

Hai said there is huge demand for molding in plastic or machinery production, adding this could help local firms to enhance their capacity and take part in the global supply chain, including that of Samsung.

The number of local enterprises being Samsung’s tier-1 vendors has increased from four in 2014 to 42 in 2019. By 2020, the number is projected to reach 50.

CEO of Samsung Vietnam Choi Joo Ho said the fact that Vietnam is starting to focus on the molding industry is an evidence for the development of the country’s industrial sectors.

Choi expected that, with this program, Vietnamese firms could take part in not only Samsung’s supply chain, but also in that of other multinationals.

In 2018, Samsung cooperated with the MoIT in training 207 experts for Vietnam’s supporting industries.