Prime Minister Pham Minh Chinh on Sunday visited and had a working session with Samsung Electronics Vietnam Co Ltd during his trip to the northern province of Bac Ninh.

The Samsung Group’s effective operations have made important contributions to Vietnam’s electronic industry and trade relations, Deputy Prime Minister Le Minh Khai said at a ceremony on April 20.

Prime Minister Pham Minh Chinh on April 13 expressed his belief and wish that Samsung Electronics Co., Ltd. will maintain its important role in enhancing economic cooperation between the two countries with many new strategic projects.

Mr. Choi Joo Ho, General Director of Samsung Vietnam, said a factory in India mainly serves the domestic market and exports a small part of its products to African countries.

Chinese display maker BOE Technology Group Co Ltd, a supplier of both Apple Inc and Samsung Electronics Co Ltd, has a plan to invest a substantial sum to build two factories in Vietnam.

Lee Jae-yong, chairman of Samsung Electronics, is expected to travel to Vietnam at the end of this year to strengthen the giant’s global management and seek new investment opportunities, reported Korean media outlets.

Samsung Electronics’ plan to manufacture semiconductor products in Vietnam has sparked the hope that the Southeast Asian nation will be a new stop for the semiconductor industry.

The R&D center in Hanoi, scheduled to be completed by late 2022, would be Samsung’s major R&D hub not only in Vietnam but also the whole of Southeast Asia.

Samsung Electronics plans to manufacture semiconductor products at its Samsung Electro-Mechanics Vietnam located in Thai Nguyen province in July 2023, Samsung Electronics CEO Roh Tae-Moon told PM Pham Minh Chinh in Hanoi on August 5.

Samsung scaling down of production in Vietnam shows signs of a global growth slowdown. If a recession occurs, this will affect Vietnam’s economy in the second half of the year.

Vietnam has attracted more than US$14 billion in foreign direct investment (FDI) in the first half of 2022, and electronic giant Samsung has attained its position as the largest investor thanks to its additional large-scale investments.

Samsung Display Vietnam (SDV) and the Vietnamese Students Association (VSAK) in the Republic of Korea (RoK) have signed a memorandum of understanding (MoU) to arrange a workshop specifically focusing on personnel recruitment.

iPhone sales in Vietnam exploded in 2021, although Apple ranked 5th in terms of market share.

More and more foreign investors are coming to Vietnam, which is gradually making Vietnam a new production base of the world.

There were reports that Samsung had relocated two smartphone production lines of its business partners from Vietnam to the Republic of Korea (RoK) to ensure a smooth supply chain.

The Ministry of Industry and Trade and Samsung Vietnam on February 22 signed a Memorandum of Understanding on cooperation in smart factory development.

Thai Nguyen province yesterday handed over a licence to Samsung Electro-Mechanics Vietnam Co., Ltd (SEMV) under Samsung Corporation to add US$920 million to its project in the Yen Binh industrial park (IP) in Pho Yen town.

According to tech retailers, the brand-exclusive store model (Mono Store - or specialized store) is a new business form in Vietnam but has already been operating in many countries.

The Vietnamese Government always creates the best possible conditions for businesses and investors, including Samsung, to expand operations in Vietnam, Prime Minister Pham Minh Chinh affirmed on January 20.