Samsung calls for investments in new areas

Samsung Vietnam's leaders and PM Pham Minh Chinh (centre). Image source: VGP

Samsung is the largest foreign direct investor in Vietnam, with total registered capital of $23.2 billion. Its revenue and export value in 2024 hit $62.5 billion and $54.4 billion, respectively.

The electronics giant also has 306 domestic suppliers after more than 10 years of operations in Vietnam. During that time, Samsung Vietnam has implemented projects in the local supporting industry enterprises through innovation and smart factory development, while training consultants and mould engineers.

At a meeting with Prime Minister Pham Minh Chinh on February 12, Choi Joo Ho, CEO of Samsung Vietnam, and his successor Na Ki Hong, said they will continue to expand their investments in new fields, and become an integral part of the digital transformation in Vietnam, in addition to current investment fields and activities.

"We hope to continue to be supported by the Vietnamese government and ministries for Samsung's investment and business activities in the country," Ho said.

PM Chinh said that the Vietnamese government will accompany and create conditions for the group to invest and do business sustainably, effectively, and successfully in Vietnam. "Both of us will work and grow together, based on harmonious interests and shared risks," he said.

The PM asked the successor of Samsung Vietnam CEO Na Ki Hong to effectively implement its investment strategies and plans in Vietnam to seize opportunities and accompany the country's development.

"Samsung should continue to maintain its leading position, become a strategic investor to develop supporting industries, chips, and semiconductors, and promote science and technology, innovation and digital transformation in Vietnam," the PM suggested.

This year, Vietnam has set a growth goal of at least 8 per cent, with double-digit growth targeted in the following years. "We will continue to improve the investment environment, encourage strategic breakthroughs to achieve growth targets, and enter a new era," he added.

The PM asked Samsung to work closely with Vietnamese ministries and agencies to effectively deploy training courses at the National Innovation Centre, raise investment, expand research and development, and support startup and innovation activities in Vietnam.

In addition, he also proposed appointing Vietnamese people in Samsung's leadership and asked the group to help domestic enterprises to improve their capacity to participate in Samsung's global production and supply chain.

"The two sides should strengthen cooperation to make Vietnamese digital technology enterprises partners in Samsung's ecosystem," the PM emphasised.

Samsung Vietnam sees 7 per cent increase in export turnover this year Samsung Vietnam acquired a total export turnover of $33.5 billion in the first seven months of this year, signifying an on-year increase of 7 per cent.

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