PM asks Samsung to turn Viet Nam into its biggest hub

Wednesday, Oct 31, 2018 13:19

Vice Chairman of Samsung Group Lee Jae-yong and Prime Minister Nguyen Xuan Phuc. — VNA Photo

Prime Minister Nguyen Xuan Phuc received Vice Chairman of Samsung Group Lee Jae-yong in Ha Noi on Tuesday, and took the oppurtunity to ask the South Korea-based firm to expand its investment and turn Viet Nam into its largest production hub.

The leader valued Samsung’s investment accomplishments in the country, stressing that the Vietnamese Government, ministries and localities would continue to create the best possible conditions for the firm to do business successfully here.

He noted that the Government had listened to the opinions of foreign investors, including Samsung, to support their investments and businesses in Viet Nam.

Aside from the call for investment expansion, PM Phuc also asked the group to step up the development of the semiconductor sector, infrastructure, finance and information technology, while continuing to assist Viet Nam in expanding its supporting industry while creating conditions for local businesses to join Samsung’s supply chain.

He also asked Samsung to assist the country in building its e-Government and implement some of its large thermal power projects, saying that the Government would remain a companion to the firm on the path to further success.

The National Assembly is close to ratifying the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), so Samsung will gain access to a variety of favourable conditions to increase its investment in Viet Nam since the deal will open up other markets.

Lee appreciated the Vietnamese Government’s support for Samsung, noting that the group was already making considerable efforts to help with human resource development in the country.

Samsung wanted to expand investment and raise the proportion of locally-made components in its products, he said, adding that it was also enhancing research and development in Viet Nam.

Samsung was working hard to further co-operate with Vietnamese businesses in spare parts and human resources. It was also experienced in Industry 4.0 technology and e-government, so the group was willing to assist the country in these fields, the executive noted. — VNS

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