Samsung plays a significant role in promoting the Vietnam – South Korea relations and the development of Vietnam’s manufacturing sector, stated Deputy Prime Minister Trinh Dinh Dung.

To ensure its place among front-runners in attracting global FDI in the future, Vietnam should prioritize quality over incentives in attracting investment capital, said an ADB expert.

The move would make Samsung's global production more efficient, stated the company.

Vietnam's trade turnover is likely to reach US$336.32 billion in the first eight months, down 0.3% year-on-year.

All subsidiaries of Samsung in Vietnam are operating normally as the country remain its strategic global production hub.

The Vietnamese brand ranked fourth in terms of smartphone sales in the second quarter of 2020.

Vietnam’s effective measures against Covid-19 has been instrumental for Samsung Vietnam to maintain positive business performance, said Samsung Vietnam’s CEO Choi Joo Ho.

The move is expected to help the South Korean tech giant stay competitive.

South Korean firms operating in Vietnam are the best example of the strong Vietnam – South Korea relations, according to the Vietnamese prime minister.