Vietnam gov't supports Samsung's strategic investment expansion
Samsung plans to soon raise its investment in Vietnam to US$20 billion from current US$17.4 billion.
The Vietnamese government will create favorable conditions for Samsung to expand investment in Vietnam to other sectors having higher added value, Prime Minister Nguyen Xuan Phuc told General Director of Samsung Vietnam Choi Joo-ho in Hanoi on October 11.
General Director of Samsung Vietnam Choi Joo-ho meets Vietnam’s Prime Minister Nguyen Xuan Phuc in Hanoi on October 11. Photo: VGP
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The PM has asked the Ministry of Planning and Investment, other agencies and authorities in Bac Ninh province to create favorable conditions for the group’s operations, particularly Samsung Display Vietnam.
Samsung has planned to build a Research and Development Centre in Hanoi, which is set to become the largest of its kind in Southeast Asia and focus on training software workforce and other fields such as 5G, artificial intelligence and big data.
The meeting in Hanoi on October 11. Photo: VGP
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During the talks, the PM said Samsung should also extend its technological capacity to manufacture new-generation technology products that keep abreast with the development trend as well as meet requirements of I4.0.
He expected Samsung to help Vietnam develop an e-government system and continue offering training and technological transfer to Vietnamese supporting industry enterprises, especially small- and medium-sized ones, to join the supply of materials and spare parts to the group.
Choi, for his part, said Samsung Vietnam is making every effort to fulfill the set targets to contribute to Vietnam’s stronger economic development, the Voice of Vietnam (VOV) reported.
Samsung plans to soon raise its investment in Vietnam to US$20 billion from current US$17.4 billion, the Vietnam News Agency reported.
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