The Prime Minister suggested Samsung invest in semiconductors in Vietnam

Prime Minister Nguyen Xuan Phuc received Mr. Lee Jae Yong, Vice Chairman of Samsung Group. Photo VGP.

On the afternoon of October 20, at the headquarters of the Government, Prime Minister Nguyen Xuan Phuc received Mr. Lee Jae Yong, Vice Chairman of Samsung Group, a leading investor in Vietnam. Attending were leaders of the Government Office, Ministry of Information and Communications, Ministry of Planning and Investment, Ministry of Finance, Bac Ninh Province.

Glad to meet Mr. Lee Jae Yong again after nearly a year (since the meeting in November 2019 on the occasion of his visit to Korea), Prime Minister Nguyen Xuan Phuc said that Samsung’s commitments at the previous meeting were basically implemented. Best of all, Samsung kicked off the construction of the largest Southeast Asia Center for Research and Development (R&D) in Hanoi (March 2020). In the context of the COVID-19 epidemic, Samsung’s business and production is still developing, contributing to the development of Vietnam.

Expressing his pleasure to meet Prime Minister, Vice Chairman of Samsung Group Lee Jae Yong acknowledged that Vietnam is one of the few countries with both effective anti-epidemic and socio-economic development, “every time I come to Vietnam, I see more new buildings coming up, new roads built, good hotels ”.

“If the factory in Vietnam does not work, it will disrupt the Samsung production chain globally. In the context of tight epidemic control, Vietnam still facilitates entry for more than 3,000 Samsung engineers and experts to enter Vietnam to run factories smoothly, ”said Samsung Group Vice President. .

Regarding the R&D Center, Mr. Lee Jae Yong affirmed that it will be put into operation by the end of 2022, just as Samsung has committed to the Prime Minister. At that time, this Center will have more than 3,000 engineers working, becoming the main R&D base of the Group.

At the request of the Prime Minister, Samsung has considered not only investment in manufacturing but also research and development, and has cooperated with Vietnamese enterprises in the field of software development.

Mr. Lee Jae Yong said he would visit Samsung Company in Ho Chi Minh City to check the company’s performance as well as the need for expansion. The Vice Chairman of Samsung expected the Prime Minister to continue creating favorable conditions for the Group, “Samsung will make more efforts to do well in business and investment in Vietnam”.

Recognizing the opinion of Mr. Lee Jae Yong, Prime Minister Nguyen Xuan Phuc said that the Government has issued a resolution allowing Samsung in Ho Chi Minh City to be converted to an export processing enterprise in Ho Chi Minh City High-Tech Park ( at the request of the People’s Committee of Ho Chi Minh City) to create conditions for the company to expand scale in Vietnam, enhancing global competitiveness.

The Prime Minister said that Vietnam has well controlled the COVID-19 epidemic, is the only country in ASEAN with positive growth this year and can rank fourth in ASEAN in terms of economic size. Samsung Group has 3 strengths in mobile devices; semiconductor products and home electronics. In which, there are 2 segments of mobile devices, home electronics, and screens that operate effectively in Vietnam. The Prime Minister hopes that in the coming time, Samsung will invest in a semiconductor manufacturing plant, contributing to a closed “production chain in the electric and electronic field” of the Group in Vietnam.

Currently, Samsung’s localization rate has continuously increased. The Prime Minister suggested the Group continue to help businesses support Vietnam to further participate in Samsung’s supply chain and research and development activities in Vietnam.

It is known that the Group is choosing a location to invest in high-tech projects, the Prime Minister affirmed that Vietnam is ready to create the most favorable conditions for Samsung to invest in this project.

Once again congratulating the success of Samsung in Vietnam over the past 10 years, the Prime Minister stated that the Government of Vietnam will continue to accompany the Group in the process of strategic business investment and cooperation in Vietnam with the spirit of both sides “win together”. Investing in Vietnam has enough “natural times, favorable conditions and people,” an environment conducive to development when the Government of Vietnam creates development, acts drastically, serves people, businesses, when Vietnam – Korea relations are developing very well, Vietnam participates in many FTAs, including EVFTA and CPTPP with large market space.

southern Ocean


Leave a Reply

Your email address will not be published. Required fields are marked *