In 2008, Samsung Group officially received an investment license and started the construction of a mobile phone factory (SEV) in Yen Phong Industrial Park, with a total registered capital of US$ 670 million. After 10 years of operations, Samsung is the largest foreign investor in Vietnam with a total investment of more than US$ 17.3 billion, of which SEV (Bac Ninh) and SEVT (Thai Nguyen) are two of Samsung's largest mobile phone plants worldwide. In the development strategy of Samsung, Vietnam plays an important role in manufacturing, researching and developing.
On behalf of the Government of Vietnam, Deputy PM Pham Binh Minh congratulated Samsung Group on their business results in Vietnam.
In 2017, Vietnam's export turnover reached over US$ 200 billion for the first time, of which Samsung’s export turnover reached a record of more than US$ 54 billion, contributing more than 25% to the total export turnover of Vietnam.
The success of Samsung in Vietnam is also a success of the reform policies and the continuous improvement of the quality and attractiveness of the investment environment by the Vietnamese Government, he added.
He said that the Vietnamese Government will continue to cooperate with FDI enterprises in general, and the Republic of Korea (RoK)’s enterprises (including Samsung Group) in particular, in the process of investing in Vietnam.
The Deputy PM suggested that the RoK businesses should transfer technology, pay attention to and ensure the material conditions for workers; support Vietnamese enterprises to step-by-step become partners in the global value chain and raise the localisation rate.
On this occasion, Deputy PM Pham Binh Minh presented a certificate of merit to Samsung Vietnam.
