Tuesday, May 22 2018

VietNamNews

Samsung urged to lift investment

Update: April, 21/2018 - 07:00
Shim Won Hwan, President of Samsung Việt Nam, receives the Certificate of Merit from the Government for its contributions over the past 10 years. — VNS Photo
Viet Nam News

HÀ NỘI — Prime Minister Nguyễn Xuân Phúc urged Samsung to expand investment in Việt Nam not only in the field of assembly of electronic products but also to improve its technological development and to manufacture new generation technology products.

Phúc spoke as he received Koh Dong Jin, President and CEO of IT and Mobile Communications and Executive Director of Samsung Electronics in Hà Nội on Friday.

“Việt Nam is proud of the presence of Samsung and thanks to Samsung, Việt Nam has become the leading mobile phone manufacturing center in the world,” he said.

He affirmed that the Việt Namese Government applauded South Korean investors, especially Samsung Group, and pledged to create more favourable conditions for foreign investors in the country.

The PM sent his congratulations to Samsung Group for celebrating the 10th anniversary of Samsung Electronics Việt Nam (SEV).

Starting with an investment of US$670 million for SEV, Samsung is currently the largest foreign investor in Việt Nam with total investment jumping almost 26 times to over $17.3 billion. Up to now, the full presence of Samsung in Việt Nam includes eight factories and a research and development centre, in which SEV (Bắc Ninh) and SEVT (Thái Nguyên) are two most largest mobile factories of Samsung in the world.

SEHC (HCM City) is the largest household electronics factory in Southeast Asia and SVMC is the largest Samsung research and development centre in the region. In the Samsung development strategy, Việt Nam is a global base of both production and research and development activities.

For the first time, Việt Nam’s export turnover exceeded $200 billion, and Samsung Việt Nam’s export turnover also made sharp breakthrough with over $54 billion, contributing more than 25 per cent to Việt Nam’s export turnover. SEV has created jobs for some 160,000 local workers.

Koh Dong Jin sent his thanks to the Vietnamese Government for facilitating their investment and production in Việt Nam.

He said Samsung has always worked to bring the most advanced and modern applications to their production in Việt Nam and here the company will work on the development of technologies such as 4G, 5G, Internet of things (IoT) and artificial intelligence.

He agreed with the PM’s proposal to build a smart city in Bắc Ninh and other localities in the country.

10 years of development

On the same day, SEV celebrated the 10th anniversary of establishment in Việt Nam.

Speaking at the event, Deputy PM cum Minister of Foreign Affairs Phạm Bình Minh said Samsung’s success in Việt Nam has also been a success of the country’s reform policy and constantly improving quality in the investment environment.

Chairman of the Việt Nam Association of Foreign Invested Enterprises Association (VAFIEs) Nguyễn Mại told Việt Nam News that FDI firms have made great contributions to Việt Nam’s export turnover by exporting valuable processed and manufactured products. 

Bắc Ninh Province, for example, has shifted from an agricultural to an industrial province with industry and service value now accounting for 92 per cent of economic production. FDI capital in the province registered by the end of 2017 had reached $15.5 billion thanks to the investment of Samsung.  — VNS

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