Prime Minister Nguyen Xuan Phuc on June 14 suggested Samsung Vietnam expand its operation not only in electronics assembling but also in technological development.

Prime Minister Nguyen Xuan Phuc (R) and General Director
of Samsung Vietnam Choi Joo-ho (Photo: VNA)

During a reception in Hanoi for General Director of Samsung Vietnam Choi Joo-ho, PM Phuc said he hopes the group will continue studying and producing new-generation technological products to catch up with the Fourth Industrial Revolution, as well as assist Vietnam in building e-government - a field of its strength. 

He also asked Samsung to continue offering practical help in workforce training and technological transfer to Vietnamese firms in supporting industry, especially small- and medium-sized enterprises, making it easier for them to provide spare parts for the group. 

The PM wished that Samsung would call on major Republic of Korea’s firms to invest in Vietnam. 

On the occasion, he also asked Choi to point out difficulties facing Samsung Vietnam since he assumed the position six months ago. 

Choi, for his part, said the company earned 28.5 billion USD in revenue as of the late May, 24 billion USD of which was from exports. This year’s figure is projected at 73.5 billion USD, including 63.5 billion USD from exports, up 5 percent year-on-year. 

He also reported about a plan to build Samsung Vietnam research and development centre as suggested by the PM during his previous meeting with the group’s leaders. 

Once operational, the centre will accommodate 2,000 – 3,000 people and become the largest of its kind in Southeast Asia, he said, adding that it will focus on training for software workforce, and other fields such as 5G, artificial intelligence and big data. 

Hailing the significance of the centre, the host directed the Hanoi municipal People’s Committee to offer all possible support to the project. 

He wished that Samsung would do long-term business in the country and increase its investment to 20 billion USD from 17.4 billion USD at present. 

Choi said Samsung invited a major RoK semiconductor manufacturer to invest in Bac Giang with a total capital of around 500 million USD.