Prime Minister Nguyen Xuan Phuc has vowed that Vietnam always supports and creates all optimal conditions for foreign investors, including Samsung, to run business in Vietnam. 

Prime Minister Nguyen Xuan Phuc (R) meets Shin Jong-kyun, President and CEO of Samsung Electronics

At a reception in Hanoi on October 6 for Shin Jong-kyun, President and CEO of the Republic of Korea (RoK)’s Samsung Electronics, the PM lauded the company for being the largest investor in Vietnam.

He said that cooperation between Vietnam and the RoK has grown fruitfully in all fields. This year, the two countries are celebrating their 25th anniversary of diplomatic ties, he noted.

He expressed his hope that Samsung will continue expanding its business in Vietnam, not only in electronics but other fields that the firm is strong in.

He suggested the firm continue assisting Vietnam in human resources training and technology transfer, thus creating opportunities for local support industry businesses, especially small and medium-sized ones.

The Government leader asked Samsung to launch its Centre for Research and Development on schedule.

For his part, Shin Jong-kyun said that after its decade-long presence in Vietnam, Samsung’s investment has mounted to 17 billion USD. He revealed that Samsung plans to export over 50 billion USD worth of products in 2017, accounting for 20 percent of Vietnam’s total export value. The two Vietnam-based factories are the largest and most modern of the firm so far, he said.

He voiced his hope to continue receiving support from the Government and PM of Vietnam in order to make more contributions to the country’s development.

Shin said that the company has paid great attention to the training of Vietnamese staff, while increasing the number of Vietnamese firms joining its supply chain to 29 by the end of this year. In the next three years, the figure is expected to reach 50, he said, adding that Samsung is interested in telecommunication sector of Vietnam.

VNA