Samsung to produce mass of smartphones in Vietnam
At the recent meeting with Minister of Information and Communication Truong Minh Tuan, Samsung Chief Executive Officer Shin Jong-Kyun revealed the world’s top smartphone maker from the Republic of Korea is planning a production run of 200 million smartphones in Vietnam this year.
Minister of Information and Communication Truong Minh Tuan received Samsung CEO Shin Jong-Kyun
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Samsung Electronics Vietnam projects in the northern provinces of Thai Nguyen and Bac Ninh, invested at total cost of 7.5 billion USD, has employed 112,000 local workers out of the group’s 150,000 labourers worldwide, he said, adding that the two plants are scheduled to make 200 million smartphones in 2016.
According to the CEO, Samsung posted 32 billion USD in export revenues from its Vietnamese operations in 2015. The group has also invested heavily in research and development in Vietnam. Its 1.4 billion USD Samsung Consumer Electronics Ho Chi Minh City Complex (SEHC) focuses on R&D besides making sophisticated television sets. The Samsung R&D centre in Hanoi employs 1,460 technical staff and developers, he highlighted.
On the occasion, Minister Truong Minh Tuan expressed his hope that Samsung will expand its specific projects in Vietnam in information and technology (IT) and communications, noting that Vietnam targets to become a leading IT nation in the region.
Samsung is the biggest single foreign investor in Vietnam with six projects valued at 14.86 billion USD. The group’s projects have contributed significantly to Vietnam’s import-export turnover while creating jobs for more than 130,000 local workers. Samsung’s substantial and long-term investments in Vietnam are evidence of the Southeast Asian country’s attractiveness to foreign investors.
Minister of Information and Communication Truong Minh Tuan said that “The Vietnamese government will create favourable conditions for Samsung’s investment and business activities so that the group will reap more success”. He took the occasion to ask Samsung group to assist with training and technology transfer to Vietnamese enterprises operating in the support industry, thus giving chances to those enterprises, particularly small- and medium-sized ones to become suppliers of materials and parts for the group’s projects.
Shin Jong-Kyun informed his host of the group’s business outcomes in Vietnam, with good pace of capital disbursement of its projects in the northern provinces of Bac Ninh and Thai Nguyen. Samsung will seriously abide to Vietnam’s laws on investment, business and social security for labourers, he said.
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