Samsung Electronics Vietnam Thai Nguyen hosts Public Security Minister

SEVT welcomes the delegation from the Ministry of Public Security

At the meeting, Na Ki Hong, new CEO of Samsung Electronics Vietnam, said, "Samsung is currently the largest foreign investor in Vietnam, with a cumulative investment of over $23 billion. More than 50 per cent of Samsung’s global smartphones are produced in Vietnam and exported to 128 countries and territories."

"Samsung intends to invest an additional $1 billion in Vietnam this year to expand production, with preparations already largely completed. Samsung appreciates the strong and consistent support from the Vietnamese government, particularly the proactive role of the Ministry of Public Security in resolving recent challenges," Hong added.

Minister Quang stated that Samsung would continue to enhance the role of Vietnamese enterprises in its global supply chain while proposing increased cooperation in promising fields such as the security industry and dual-use technology – sectors of strategic importance for both the economy and national defence.

Minister of Finance Nguyen Van Thang received Hong in May to discuss issues related to Samsung's investment and business in Vietnam.

The CEO asked for support related to three-year additional corporate income tax incentives for factories in Bac Ninh, Thai Nguyen, and Ho Chi Minh City. He also mentioned the issue of a VAT refund for Samsung Electronics Ho Chi Minh City.

Minister Thang said the matter had been reported to all cities and provinces and cities for consideration.

Regarding support policies for businesses, the minister said that tax policies and incentives do not discriminate between domestic and foreign investors. The Vietnamese government creates better conditions for foreign-invested enterprises to operate within legal regulations.

According to the Q1/2025 report, Samsung’s four main factories in Vietnam recorded a total profit of $15.5 trillion. These factories include SEVT, Samsung Electronics Vietnam Bac Ninh, Samsung Display Vietnam, and Samsung Electronics Ho Chi Minh City CE Complex. Additionally, Samsung Vietnam operates two other major factories and a research and development centre.

In 2024, SEVT recorded revenue of almost $23 billion, a 7.6 per cent increase on-year, ranking just behind Samsung Electronics America and Samsung Semiconductor, also in the United States. However, SEVT’s net profit decreased by 7.2 per cent, amounting to approximately $1.4 billion.

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