PM asks Samsung to turn Vietnam into its biggest hub

Prime Minister Nguyen Xuan Phuc received Vice Chairman of Samsung Group Lee Jae-yong in Hanoi on October 30, asking the Republic of Korea-based firm to expand investment and turn Vietnam into its largest production hub.

Prime Minister Nguyen Xuan Phuc receives Vice Chairman of Samsung Group Lee Jae-yong. (Photo: VGP)
Prime Minister Nguyen Xuan Phuc receives Vice Chairman of Samsung Group Lee Jae-yong. (Photo: VGP)

The host leader highly valued Samsung’s investment accomplishments in the country, stressing that the Vietnamese Government, ministries, and localities will continue to create the best possible conditions for the firm to do business successfully here.

He noted that the Government has kept a close watch on and listened to opinions of foreign investors, including Samsung, to support their investments and business in Vietnam.

Aside from the call for investment expansion, PM Phuc also asked the group to step up the development of the semiconductor sector, infrastructure, finance, and information technology, while continuing to assist Vietnam in expanding its supporting industry and create conditions for local businesses to join Samsung’s supply chain.

He also asked Samsung to assist the country in building its e-government and soon implement some of its large thermal power projects, affirming that the Vietnamese Government will remain a companion to the firm on the path to further victory.

As the National Assembly of Vietnam is soon to finish ratifying the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Samsung will gain access to a variety of favourable conditions to increase investment in Vietnam since the deal will open up major chances for exporting products to other countries.

For his part, Lee appreciated the Vietnamese Government’s support for Samsung, noting that the group is already making considerable efforts to help with human resource development in the country.

Expanding investment and raising the proportion of locally-made components in its products are the wishes of Samsung, he said, adding that it is also enhancing research and development activities in Vietnam.

Samsung is working hard to further cooperate with Vietnamese businesses in spare parts and human resources. It is also experienced in Industry 4.0 technology and e-governments, so the group is willing to assist the country in these fields, the executive noted.