Samsung CEO: Vietnamese market remains attractive for foreign investors

VOV.VN - Despite the negative impact caused by the prolonged COVID-19 outbreak, Vietnam remains an attractive destination for foreign investors over the long run, Choi Joo-ho, CEO of Samsung Vietnam, told local media outlets on September 27.

According to the CEO, Vietnam provides an attractive investment environment thanks to its abundant labour force, socio-political stability, modern production infrastructure, and numerous investment incentives. 

Vietnam will maintain its FDI inflows and growth in the near future, providing that it effectively implements COVID-19 prevention measures, alongside maintaining production and supply chains, said Choi.

He stated that Samsung supports the Vietnamese Government’s ongoing policy relating to effective pandemic control and economic growth, and believes that the prolonged outbreak will soon be brought under control nationwide, especially in Ho Chi Minh City and other industrial clusters in the south.

Choi revealed that since Samsung initially entered the Vietnamese market in 2008, it has poured a total of US$17.7 billion into the nation, becoming a key global production base with six manufacturing plants in Bac Ninh, Thai Nguyen, and Ho Chi Minh City.

Its US$200 million research and development (R&D) centre which broke ground in Hanoi in 2020 and is expected to be completed in 2022, will primarily focus on global science and technology development trends, with things such as artificial intelligence (AI), the Internet of Things (IoT), big data, and 5G networks, in order to help support Vietnam's digital transformation and anticipate changes relating to Industry 4.0.

Samsung will try its best in order to contribute to the nation’s rapid economic recovery process moving into the post pandemic period, said the CEO.