Minister of Finance meets Samsung delegation to discuss economic role

Photo: Duc Minh

The meeting took place on July 2 at the Ministry of Finance headquarters, led by Samsung CFO Park Soon Cheol. Minister Tuan expressed appreciation for Samsung's visit and commended the company's achievements in exports, budget contributions, and job creation in Vietnam.

"Samsung is currently the largest foreign invested enterprise in Vietnam. Beyond manufacturing and business activities, the group has established a large-scale research and development (R&D) centre. More importantly, Samsung operates in high technology, an area that Vietnam strongly encourages under the Politburo's Resolution No.10-NQ/TW on attracting a new generation of foreign investment," Minister Tuan said.

He expressed confidence that Samsung's R&D Centre would continue to operate successfully, enabling the group to maintain a long-term, secure, and sustainable presence in Vietnam while helping more Vietnamese enterprises integrate into global value chains.

Samsung Group's CFO Park Soon Cheol congratulated Minister of Finance Ngo Van Tuan on his appointment last April and expressed sincere appreciation for the continued support provided by the Vietnamese government, ministries, agencies, and local authorities.

Sharing Samsung's global business outlook, he noted that the company is benefiting from the current semiconductor 'supercycle', with total group revenue expected to reach a record high this year. Meanwhile, its mobile device and television businesses are also striving to achieve strong performance.

By the end of 2025, Samsung's cumulative investment in Vietnam had reached an estimated $24 billion. The group's ecosystem in the country comprises six manufacturing plants, an R&D centre and a sales entity, generating annual revenue of more than $60 billion.

Reaffirming Samsung's long-term commitment to Vietnam and its determination to contribute to the country's socioeconomic development, Cheol said the group plans to invest an additional $1 billion in Vietnam in 2026 alone. Samsung is also formulating medium- and long-term investment plans covering Samsung Electronics, display panels, electro-mechanics and other business areas to further expand its operations.

Beyond economic cooperation, Samsung's partnership with Vietnam also focuses on sustainable development through education and technology transfer. Since 2015, the Smart Factory programme, implemented in cooperation with the Ministry of Industry and Trade, has helped strengthen the competitiveness of many Vietnamese enterprises. Since 2023, the Samsung Innovation Campus project at the National Innovation Centre has become an important training hub for high-quality IT and semiconductor talent and is being expanded to Bac Ninh and Thai Nguyen provinces.

Photo: Duc Minh

Minister Tuan praised the model and encouraged Samsung to strengthen cooperation with the Ministry of Education and Training and the Ministry of Science and Technology to maximise the potential of highly skilled talent from Vietnam's leading universities and research institutes for Samsung's global R&D projects.

The minister also called on Samsung to provide greater support to Vietnam in sci-tech, innovation, and high-tech industries, while expanding capacity-building and training initiatives.

Specifically, he urged Samsung to continue assisting Vietnamese enterprises in improving their capabilities to participate more effectively in the group's supply chain and to enhance cooperation with Vietnamese digital technology companies so they can become partners within Samsung's ecosystem.

He further encouraged Samsung to expand investment in its R&D Centre and support advanced training, practical learning and hands-on programmes in strategic technologies such as AI, semiconductors, big data, and the Internet of Things.

These initiatives would help boost research, incubation, and the commercialisation of innovative ideas. He also called for close coordination with the Ministry of Finance to implement training centres established at the National Innovation Centre under cooperation agreements between the two sides.

In particular, Minister Tuan encouraged Samsung to continue expanding its operations and position Vietnam as a strategic manufacturing, research and development hub for the production of key products serving international markets.

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