PM Nguyen Xuan Phuc (R) and President and CEO of the Republic of Korea’s Samsung Electronics Co., Ltd Dongjin Koh.

Phuc made his remark at a reception for President and CEO of the Republic of Korea’s Samsung Electronics Co., Ltd Dongjin Koh in Hanoi on April 20.

Expressing his delight at a fruitful growth of Vietnam – Republic of Korea (RoK) ties across all fields, the PM hailed Samsung’s achievements and contributions to Vietnam’s economic development.

He said the Vietnamese Government highly values efforts made by RoK investors, particularly Samsung, in maintaining their top position among foreign investors in Vietnam for years.

Samsung’s cooperation, investment and production are important to the two countries’ strategic partnership, PM Phuc added, saying Vietnamese relevant agencies will continue creating the best possible conditions for the group’s operation.

He requested the company to implement its research and development center in line with schedule and commitments it had made with the Government.

The Government leader suggested Samsung expand investment in Vietnam is not only electronic assembly but also technology development. He asked the group to continue its training and technology transfer for Vietnamese firms in the support industry, particularly small- and medium-sized ones, to help them engage in supplying components for Samsung projects.

For his part, Dongjin Koh informed his host about a successful celebration of Samsung Electronics’ decade-long presence since its establishment of the first factory in Bac Ninh province.

Samsung always prioritizes applying the most advanced technologies in its production in Vietnam, he added, noting that Vietnam is the main manufacturing hub of the conglomerate in the world.

He said Samsung is working to turn Vietnam into its key destination for technology research and to train more high-skilled local engineers and workers.

Local labor works at Samsung cellphone plant.

Affirming the group’s determination to stand side by side with Vietnam along its development path, Koh agreed with the PM’s suggestion of building electronic and smart cities in Bac Ninh and other Vietnamese localities.

The Korean guest stated Samsung will expand its investment and production scale and generate more jobs in Vietnam, with an expectation for further assistance from Vietnamese Government and relevant agencies.

Samsung has so far invested in six projects worth over US$17.3 billion in Vietnam. In 2017, Samsung Vietnam posted a revenue of nearly US$64 billion, with export value reaching US$54 billion or 25.4 percent of Vietnam’s total export value. It generated jobs for 160,000 local workers.

Source: NDO