306 Vietnamese enterprises become Samsung's tier-1 suppliers
VOV.VN - The number of Vietnamese enterprises acting as Samsung’s tier-1 suppliers has seen a 12fold increase over the past nine years, from 25 in 2014 to 306 in 2023, according to General Director of Samsung Vietnam Choi Joo Ho.
Choi unveiled the information at a recent meeting with representatives from the Ministry of Planning and Investment to discuss the firm’s recent business operations in the country.
He affirmed that RoK businesses have always placed their high trust in Vietnam’s business climate and Vietnamese agencies’ active and effective support.
Choi revealed that the firm has been continuously expanding its investment in Vietnam, pouring additional US$1.2 billion into the country last year, with a focus on the development of supporting industries, human resources training and cooperation with the National Innovation Center (NIC) to develop smart factories.
The Samsung representative shared that the firm would step up cooperation with the NIC to operate innovation labs, train engineers and support start-ups in future.
He expressed his hope that Vietnamese Government would continue to improve the business climate and offer additional preferential policies to foreign-invested enterprises in the time ahead.
During the reception, Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc also highly appreciated Samsung’s long-term investment and business strategy in Vietnam, making a significant contribution to the country’s socio-economic development and especially helping Vietnamese businesses engage in its global supply chain.
Ngoc expected that Samsung would share international experiences with Vietnam as the country is formulating a strategy to develop the semiconductor industry and accelerate innovation.
The Vietnamese Government is committed to creating the optimal business environment for foreign investors, including Samsung, she reaffirmed.
