Samsung Vietnam’s contributions to the nation’s socio-economic development praised

VOV.VN - Deputy Prime Minister Vuong Dinh Hue has applauded the contributions of Samsung Vietnam and its outgoing General Director Shim Won Hwan in particular to the socio-economic development of Vietnam.

Deputy Prime Minister Vuong Dinh received outgoing General Director of Samsung Vietnam Shim Won Hwan and Shim’s successor Choi Joo Ho in Hanoi on December 21.

He expressed his confidence that new Samsung Vietnam leader Choi Joo Ho, will have a successful term of office in Vietnam and keep in close coordination with the Vietnamese government during the company’s operation.

Hue assured the Vietnamese Government’s readiness to offer the best possible conditions for Samsung to turn Vietnam into the firm’s global production hub.

Samsung Vietnam’s export revenue this year is forecast to grow 12% to US$60 billion, constituting roughly 25% of Vietnam’s total exports, according to Shim.

Samsung will go ahead with the implementation of its strategy on long-term investment in Vietnam which is regarded as its largest global production hub, with Samsung Thai Nguyen being the firm’s biggest factory worldwide, Shim told his host.

So far, Samsung has disbursed more than 90% of US$17.3 billion it had registered to invest in Vietnam, Shim noted, adding that a network connecting Samsung and its subsidies with Vietnamese enterprises has been set up.

He voiced his hope that the Vietnamese Government will continue to support the firm’s operations in the coming time.

Deputy PM Hue said in 2018, Vietnam fulfilled all socio-economic targets for the whole year with GDP growth of 6.9-7% and import-export revenue of US$480 billion, a year-on-year increase of 13%.

Hue also greatly valued Samsung’s substantial contributions to the growth of Bac Ninh, Thai Nguyen, and Ho Chi Minh City where its facilities are located, thus helping to remarkably improve the nation’s economic results. 

Hue suggested that Samsung take heed to developing a research centre based in Hanoi with a particular focus on developing semiconducting technology and increasing localisation ratio of its products.

The Vietnamese Government will soon adopt a policy to promote the growth of its value chain and is determined to solidify macro-economic foundations for the growth of local businesses, he emphasized.