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PM suggests Samsung contribute more to Vietnam-RoK economic ties

Prime Minister Pham Minh Chinh on April 13 expressed his belief and wish that Samsung Electronics Co., Ltd., of the Republic of Korea (RoK) will maintain its important role in enhancing economic cooperation between the two countries with many new strategic projects.

At a reception in Hanoi for Park Hark Kyu, Head of Corporate Management Office at DX Division of Samsung Electronics, PM Chinh commended operations of Samsung companies in Vietnam and their contributions to economic restructuring, boosting exports and growth, promoting supporting industries and creating jobs in the Southeast Asian country.

He stressed that Vietnam and the RoK upgraded their relationship to a comprehensive strategic partnership on December 15, 2022, opening up new cooperation opportunities for the two countries in general and their businesses in particular.

The PM suggested Samsung expand its investment and set higher targets for 2023 and the coming years.

The Vietnamese government will continue to accompany and hold dialogues with foreign investors, including those from the RoK, and remove their obstacles in a timely manner, facilitating their effective and sustainable business in Vietnam with the view of “harmonised interests and shared risks,” PM Chinh pledged.

In reply, Park thanked the government, the PM and localities of Vietnam for their support, and spoke highly of the domestic business and investment environment.

Samsung will further contribute to Vietnam’s socio-economic development, he said, noting that the group regards the Southeast Asian nation as a global production hub and aims to turn Vietnam into a “centre of its research and development centres” globally.

The group will also make efforts to enable more Vietnamese people to join in the leadership of Samsung Vietnam, raise the localisation rate, and step up cooperation with the Vietnam National Innovation Centre, he said, informing his host that more than 2,000 engineers are working for Samsung’s R&D centre in Hanoi.

Park raised some proposals to the PM on encouraging the use of made-in-Vietnam products, which were highly valued by the host.

Samsung is the biggest foreign investor in Vietnam, with its major projects located in the northern provinces of Bac Ninh and Thai Nguyen, and Ho Chi Minh City, and worth some 20 billion USD in total.

Samsung’s phone production in Vietnam accounts for about half of its global output. As of November 2022, Samsung companies in the country had employed nearly 100,000 people./.

Source: Vietnam News Agency