Vietnam backs Samsung’s operational expansion: PM

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(VOVWORLD) -  The Vietnamese Government always creates the best possible conditions for businesses and investors, including Samsung, to expand operations in Vietnam, Prime Minister Pham Minh Chinh affirmed on Thursday.
Vietnam backs Samsung’s operational expansion: PM - ảnh 1Prime Minister Pham Minh Chinh hosts a reception for Director General of Samsung Vietnam Complex Choi Joo-ho. (Photo: VNA)

At a reception for Director General of Samsung Vietnam Complex Choi Joo-ho in Hanoi, the PM said Samsung’s investment is evidence of the fruitful development of the strategic cooperative partnership between Vietnam and the Republic of Korea (RoK).

He lauded the group’s performance amid the COVID-19 pandemic, with its cumulative turnover increasing 14 percent in 2021 as compared with the previous year to hit over 74 billion USD.

PM Chinh appreciated Samsung’s consideration of Vietnam a destination for its long-term investment, noting its projects are among the FDI projects that are being rolled out quickly in the Southeast Asian nation.

Samsung’s research and development center, the biggest of its kind in Southeast Asia under construction in Hanoi, is expected to support Vietnamese firms and raise the locally-made content, he said.

The Government views Samsung as an investment model in Vietnam, and stands ready to help the group seek the best suitable destination for its high-tech battery project, he said.

The PM called on Samsung to continue helping Vietnamese firms participate in its global value chain as well as research and development activities in Vietnam.

The leader expressed his hope that Samsung will work to attract investments to Vietnam, and suggested the group set out a personnel training strategy to include Vietnamese in its leadership.

For his part, Choi praised Vietnam’s achievements in the COVID-19 combat and socio-economic development in 2021, with export-import revenue growing by 23 percent.

Samsung earned 65.5 billion USD from exports last year, up 15.8 percent from the previous year, he said, attributing the results to the Vietnamese Government’s support policies.  

Regarding the research and development centre, he said it is expected to be put into operation this year.

Both sides noted their belief that the cooperation will grow further in 2022 and the years to come.