Việt Nam ensures optimal conditions for Samsung’s operations: Deputy PM
Deputy Prime Minister Vương Đình Huệ hosted a reception in Hà Nội yesterday for outgoing General Director of Samsung Việt Nam Shim Won Hwan and Shim’s successor Choi Joo Ho.
Huệ spoke highly of the contributions of Samsung Việt Nam and Shim, in particular to the socio-economic development of Việt Nam.
He expressed his hope the firm’s new head, Choi Joo Ho, will have a successful tenure in Việt Nam and keep in close co-ordination with the Vietnamese Government during the firm’s operation.
The Deputy PM pledged the Vietnamese Government will provide optimal conditions for Samsung to turn Việt Nam into the firm’s global production hub.
According to Shim, Samsung Việt Nam’s export revenue this year is estimated to grow 12 percent to reach US$60 billion, accounting for about 25 per cent of Việt Nam’s total exports.
He said Samsung would carry on implementing its strategy of long-term investment in Việt Nam as it considered the nation its largest global production hub, with Samsung Thái Nguyên being the firm’s biggest factory worldwide.
So far, Samsung had disbursed more than 90 per cent of the $17.3 billion it had registered to invest in Việt Nam, Shim noted, adding a network connecting Samsung and its subsidies with Vietnamese enterprises had been formed.
He expressed his hope the Vietnamese Government would continue backing the firm’s operations in the future.
Huệ said in 2018, Việt Nam fulfilled all socio-economic targets for the whole year with the GDP growth of 6.9-7 per cent and import-export revenue of $480 billion, up 13 per cent year-on-year.
The contributions that Samsung had made to the growth of Bắc Ninh, Thái Nguyên, and HCM City where its factories are located were substantial, helping to greatly improve the nation’s economic results, the Deputy PM noted.
After 30 years of attracting foreign direct investment, Việt Nam was moving to prioritise projects with a high connectivity capacity that can support Vietnamese firms to join the global value chain, he said.
Huệ suggested Samsung pay more attention to development research with a base in Hà Nội, developing semiconducting technology in Việt Nam, and enhancing the localisation ratio of its products.
The Vietnamese Government would soon issue a policy to promote the growth of its value chain, determined to reinforce the macro-economic foundations for the growth of local businesses, he stressed. – VNS