Samsung’s US$300- million research and development (R&D) center, scheduled to become operational in 2022 in Hanoi, would employ 3,000 local engineers, according to Lee Jae-young, vice chairman of Samsung.

Prime Minister Nguyen Xuan Phuc (r) and Vice Chairman of Samsung Lee Jae-young (l). Source: VGP.

Samsung is committed to ensuring efficient operation and successes of its production facilities in Vietnam, contributing to the country’s socio-economic development and Vietnam – South Korea relations, Lee said in a meeting with Prime Minister Nguyen Xuan Phuc in Seoul in November 28.

Lee added Samsung would need more hi-tech engineers in the coming time, especially in the production of semi-conductors, smart phones or hi-tech display screens, with high demand and added value.

Lee said Samsung would increase investment in R&D and supporting industries in Vietnam and seeks more support from the Vietnamese government.

PM Phuc said Vietnam fully supports Samsung’s operations in the country and expected the corporation to maintain high export growth, while Vietnam is giving priority to improving its business environment.

Phuc suggested Samsung build a semi-conductor manufacturing plant in Vietnam with advanced technologies.

Over the past few years, Samsung has been increasing the localization rate, but the rate remains modest. Phuc requested Samsung to aid Vietnam’s supporting industries for further integration into its global value chain.

Phuc reiterated his previous statement that Vietnam should become Samsung’s biggest strategic production hub globally.

In a separate meeting with Hyundai’s Vice President Kisun Chung, Phuc requested more support from the company for Vietnam’s shipbuilding industry, expecting Hyundai to set up a large scale shipyards in Vietnam, including a manufacturing plan specialized in producing parts for ships.

Chung said Hyundai is conducting a survey in Vietnam to expand its shipbuilding business, expecting to contribute to Vietnam in this regard.

President of GS E&C Michael Huh informed the group is considering investment projects in fields of transport infrastructure development. GS E&C is taking part in the construction of Metro line No.1 in Ho Chi Minh City and is considering the second line.

Huh stressed GS E&C would participate in environment and social welfare projects in Vietnam using high technologies.