PM pledges optimal conditions for Samsung

Friday, 2017-10-06 22:37:59
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Prime Minister Nguyen Xuan Phuc (R) and President and CEO of the Republic of Korea (RoK)’s Samsung Electronics
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NDO/VNA – Prime Minister Nguyen Xuan Phuc has vowed that Vietnam always supports and creates optimal conditions for foreign investors, including Samsung, to run business in Vietnam.

At a reception in Hanoi on October 6 for Shin Jong-kyun, President and CEO of the Republic of Korea (RoK)’s Samsung Electronics, the PM lauded the company for being the largest investor in Vietnam.

He noted that cooperation between Vietnam and the RoK has grown fruitfully in all fields. This year, the two countries are celebrating their 25th anniversary of diplomatic ties, he noted.

He expressed his hope that Samsung will continue expanding its business in Vietnam, not only in electronics, but also in other fields that the firm is strong in.

He suggested that the firm continue assisting Vietnam in human resources training and technology transfer, thus creating opportunities for local support industry businesses, especially small and medium-sized businesses.

The Government leader asked Samsung to launch its Centre for Research and Development on schedule.

For his part, Shin Jong-kyun stated that after its decade-long presence in Vietnam, Samsung’s investment has mounted to US$ 17 billion. He revealed that Samsung plans to export over US$ 50 billion worth of products in 2017, accounting for 20 percent of Vietnam’s total export value. The two Vietnam-based factories are the largest and most modern of the firm so far, he said.

He voiced his aspiration to continue receiving support from the Government and PM of Vietnam in order to make more contributions to the country’s development.

Shin said that the company has paid great attention to the training of Vietnamese staff, while increasing the number of Vietnamese firms joining its supply chain to 29 by the end of this year. In the next three years, the figure is expected to reach 50, he said, adding that Samsung is interested in telecommunication sector of Vietnam