Seminar explores Vietnam-RoK support industry cooperation

(VOV) -Vietnamese and Republic of Korean (RoK) executives examined the possibility of strengthening cooperation in developing the support industry in Vietnam, at a seminar in Hanoi on September 11.

Speaking at the seminar, Deputy Minister of Planning and Investment (MPI) Nguyen Van Trung stressed the RoK is one of Vietnam’s leading partners in the fields of investment, trade, economy, culture, and tourism.

The Ministry is committed to creating favourable conditions for Vietnamese support industry enterprises to get involved in the production chain of Samsung group and other foreign investors in the future, he said. 
seminar explores vietnam-rok support industry cooperation hinh 0

Head of the Foreign Investment Agency Do Nhat Hoang in turn said the development of the support industry is one of the top priorities of the Vietnam Government.

By 2020 the goal is to give the industry a facelift and multiply the number of domestic businesses in the industry to over 33% of market share, Hoang said.

The support industry also plays a vitally important role in improving economic competitiveness, helping Vietnam become a modern industrialized nation by 2020.

Shim Won Hwan, CEO of Samsung Electronics Vietnam (SEV), said with preferential policies and practical actions of the Vietnamese Government, foreign invested enterprises and domestic suppliers will have more opportunities to exchange and cooperate in developing the support industry.

Samsung always cooperates with domestic suppliers meeting the criteria of quality, schedule and prices, with the aim of increasing the number of Vietnamese suppliers in the supply chain of Samsung, and bringing benefits to both parties, he said.

The group will continue to support personnel training for support industries in Vietnam,

Vietnam Association of Foreign Invested Enterprises (VAFIE) Chairman Nguyen Mai, said Vietnam needs to learn from Samsung experience in technology development and transfer to improve the technological level of domestic enterprises.

Developing a strong support industry network helps reduce costs, increase added value, profits of businesses, and bolster sustainable economic growth in line with the requirements of international integration, he said.