Expressing gratitude for the Vietnamese government’s support, Lee highlighted the strong 16-year partnership between Samsung and Vietnam, emphasizing the mutual success and development. He noted that Samsung, Vietnam’s largest foreign investor and exporter, collaborates with 310 Vietnamese companies and employs 2,500 engineers and researchers at its Hanoi R&D Center.
Lee confirmed Samsung’s commitment to sustainable development in Vietnam and revealed a major investment plan for the next three years to expand the factory’s production capabilities.
Prime Minister Pham Minh Chinh praised Samsung’s contributions to Vietnam’s economy and technological advancement. He noted six key aspects of the partnership, including closer connections, successful R&D operations, and enhanced cooperation with Vietnam’s National Innovation Center.
The Prime Minister asked Samsung to increase the localization rate of products in Vietnam. (Photo: Nhat Bac)
Addressing investment support, PM. Chinh mentioned the development of a decree to establish an Investment Support Fund aimed at boosting high-tech and innovative projects. He encouraged Samsung to increase its localization rate and help Vietnamese businesses integrate into Samsung’s value chain, promoting joint research and development of new products.
PM. Chinh reiterated his hope to see more Vietnamese representation on Samsung Vietnam’s board of directors, believing that combining Korean management with Vietnamese talent would lead to great success.
Samsung has invested $22.4 billion in Vietnam, employing around 90,000 people. In 2023, Samsung Vietnam’s exports amounted to $55.7 billion.
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Source: Vietnam Insider