Monday, May 21 2018

VietNamNews

Deputy PM wants Samsung support Vietnamese part suppliers

Update: January, 06/2018 - 10:45
Deputy Prime Minister Trịnh Đình Dũng (R) receives president of Samsung Viet Nam Complex Shim Won Hwan in Hà Nội on Friday. — Photo soha.vn

HÀ NỘI — The Vietnamese  Government expects Samsung to further support human resource training and technology transfer in the country, helping Vietnamese parts suppliers take part in value chains and become suppliers of materials and parts for Samsung, said Deputy Prime Minister Trịnh Đình Dũng.

Speaking at a meeting with president of Samsung Việt Nam Complex Shim Won Hwan in Hà Nội yesterday, Dũng said he hoped Samsung and South Korean investors would continue increasing output and export value, generating jobs and boosting people’s living standards.

Shim Won Hwan said there were 160,000 people working for Samsung factories in Việt Nam. The firm had carried out development policies and ensured social security.

Along with that, he said enterprises are also promoting other fields such as household electronics, electronic parts and accessories. Up to now, 20 Vietnamese enterprises have become level-1 suppliers for Samsung.

Previously, Vietnamese enterprises mainly provided printing and packaging products, but now they can supply hi-tech devices and materials such as metal moulds and components, said Hwan.

To attract more Vietnamese businesses to value chains, Samsung annually holds two exhibitions to introduce technology and seek local suppliers. The company also helps Vietnamese enterprises upgrade their knowledge and skills in technology and management to help them become component suppliers for Samsung factories.

Deputy PM Dũng lauded the large-scale investment of Samsung in Việt Nam that generated jobs for hundreds of thousands of employees and created global products, contributing to the increase of exports and reducing Việt Nam’s trade deficit, ensuring trade balance between Việt Nam and South Korea.

Keb Hana encouraged to boost investment

The Vietnamese Government also welcomes South Korean investors, including Keb Hana Financial Group, to invest in the country and help improve the local financial market, said Deputy Prime Minister Vương Đình Huệ.

Huệ said during a meeting with the South Korean financial group’s chairman Kim Jung Tai yesterday that Việt Nam expects Hana to study the local market and enhance its direct and indirect investment in this sector as Việt Nam has been raising a substantial amount of capital for the development of domestic infrastructure via private-public partnership agreements with foreign investors.

In addition, the Hana group could work with the Vietnamese Government to restructure the banking industry, using strigent regulations.

“The Government sees 2018 as the year in which the restructuring of the banking sector should be sped up and that will create good investment opportunities for financial investors like Keb Hana Financial Group,” said Huệ.

He also lauded the partnership between Keb Hana Financial Group and the Joint Stock Commercial Bank for Investment and Development of Việt Nam (BIDV) and said the two sides would have a big opportunity to explore the Vietnamese technology-based financial solution (fintech) and mobile payment markets in the future.

In return, Keb Hana Financial Group chairman Kim Jung Tai praised Việt Nam’s investment and business climate, which has improved in recent years.

The South Korean financial firm plans to invest in infrastructure development via direct and indirect investment and expand its co-operation with Vietnamese financial institutions via fintech firms, he said.

The partnership with BIDV will help both sides increase their business values and explore new financial and lending solutions, Kim said.

In the past year, the two countries celebrated 25 years of diplomatic relations. Accumulated up to December 2017, South Korea ranked first of 121 countries and territories investing in Việt Nam with more than 6,400 projects with total registered capital of about $57.66 billion. — VNS

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