Economics - Politics
Deputy PM Vuong Dinh Hue meets with Samsung Vietnam leader
Deputy Prime Minister Vuong Dinh Hue received General Director of Samsung Vietnam Shim Won-hwan in Hanoi on November 16, applauding the firm’s increase of locally made components in its products.
Deputy Prime Minister Vuong Dinh Hue (R) receives General Director of Samsung Vietnam Shim Won-hwan
on November 16 (Photo: VNA)
Briefing his host about activities of the Republic of Korea-invested Samsung Vietnam, Shim said the firm’s exports have reached 44 billion USD and is expected at 52 billion USD – 53 billion USD at the end of 2017. About 160,000 people are directly working at Samsung factories in Vietnam, and the figure that includes indirect workers is up to 180,000, excluding employees of the company’s suppliers.
The number of Vietnamese businesses directly supplying components for Samsung has risen from four in 2014 to 29 in 2017, and it targets this number at 50 by 2020.
Samsung has devised a detailed training programme to turn Vietnamese firms into its suppliers, he noted, elaborating that it has organised workshops and support industry exhibitions to seek vendors, sent Korean experts to give advice and help improve potential businesses’ capacity.
The firm has also paid attention to personnel training through providing training courses and sending skilled employees to the RoK for further training, the executive noted.
Voicing his delight at Samsung’s development in Vietnam, Deputy PM Hue said with its projects in Bac Ninh and Thai Nguyen provinces and Ho Chi Minh City, Samsung has become the biggest FDI investor in Vietnam with total registered investment capital of 17.3 billion USD.
He highly valued Samsung Vietnam’s moves to increase supplying companies, develop local support industry and raise the rate of locally made components.
He asked Samsung to implement the research and development centre project in Vietnam soon, adding that the Vietnamese Government will actively support this project.
The Deputy PM also suggested Samsung, a multi-sectoral and multi-national group, to invest in other fields that it is strong at such as energy, seaport infrastructure, science-technology, and health care.
Hue hoped that Samsung will be a role model of successful foreign investment in Vietnam and an example of connecting local enterprises with foreign investors, thus having positive influence on Vietnam’s support industry.