Prime Minister Nguyen Xuan Phuc visited Samsung Electronics Viet Nam Thai Nguyen LLC (SEVT) during his business trip to the northern province of Thai Nguyen on Wednesday.

The PM Phuc spoke highly of Samsung’s investment in Viet Nam with its high ratio of committed capital and disbursement. He especially praised the technology group’s commitment to achieve $50 billion in exports in 2017.

Phuc said that he was impressed with Samsung’s work in Viet Nam. He praised the company’s focus on research and development (R&D) in addition to manufacturing and assembly, and he thanked the firm for improving the living conditions for employees and workers and reaching a localization rate of 57 per cent for their products.

Phuc said that the Government and Thai Nguyen Province’s authorities would provide all needed conditions to help Samsung succeed in Viet Nam and become the electronics hub in the country.

He also shared his great appreciation for the efforts and contributions of Samsung to Viet Nam’s socio-economic development.

He said that as the biggest foreign-invested company in Viet Nam, Samsung must remain a role model in the country, continue to focus on the living conditions of employees, environmental protection and set an example for other businesses.

Since it started operating in 2014, SEVT has increased its capital and revenue by 250 times to $5 billion and $20.4 billion.

SEVT is a member of Samsung Electronics Viet Nam, which contributed 20 per cent of the country’s US$39.9 billion worth of exports in 2016.

Samsung Viet Nam targets to export a total $50 billion worth of products in 2017 and reach a localisation rate of 57 per cent for its products, which are supplied by 215 Vietnamese companies. — VNS