Hanoi (VNA) - Samsung will intensify efforts to develop a highly skilled technology workforce and provide technical consulting services, thereby expanding opportunities for technologically capable Vietnamese enterprises that meet global standards to join Samsung's supply chain while promoting technology transfer activities.

The statement was made by Park Soon Cheol, Vice President and Chief Financial Officer (CFO) of the Republic of Korea (RoK)'s Samsung Electronics during a meeting with Minister of Finance Ngo Van Tuan in Hanoi on July 2.

At the meeting, Tuan reiterated that the Vietnamese Government is committed to maintaining a favourable, fair, secure and sustainable investment environment to encourage long-term investors such as Samsung to expand their presence in the country, particularly in high technology – a sector that Vietnam considers a strategic development priority.

He expressed his appreciation for Samsung and other RoK businesses for their longstanding contributions to Vietnam's development across various sectors.

Park said Samsung has successfully implemented numerous projects since making its large-scale investment in Vietnam's high-tech sector in 2008.

Samsung plans to invest an additional 1 billion USD this year as it advances medium- and long-term expansion plans across electronics, display manufacturing and electro-mechanics, he revealed.

He attributed Samsung's growth in Vietnam to the strong support it has received from the Government, ministries, agencies and local authorities over the past three decades, enabling the company to manufacture globally competitive products at its Vietnamese facilities.

He noted that Samsung has consistently invested in developing local suppliers, transferring technology and training skilled technology professionals. Initiatives such as the Smart Factory programme, supporting industry exhibitions and Samsung Innovation Campus (SIC) laboratories have helped strengthen the capabilities of Vietnamese enterprises and human resources.

The company now operates six factories, one research and development (R&D) centre and one sales entity in Vietnam. It generates annual revenue exceeding 60 billion USD, while both revenue and exports posted year-on-year growth in the first half of this year. Samsung expects another strong performance by year-end. Its cumulative investment in Vietnam reached 24 billion USD by the end of 2025.

Samsung is also committed to supporting Vietnam's socio-economic development through closer cooperation with the Government, Park stressed.

Welcoming Samsung's expansion of its SIC talent development centres in Bac Ninh and Thai Nguyen provinces, Tuan encouraged the company to work more closely with the Ministry of Education and Training and the Ministry of Science and Technology to broaden research collaboration with Vietnamese universities and research institutes.

He also called on Samsung to support Vietnamese universities in upgrading facilities and strengthening academic programmes in disciplines aligned with the group's future development needs, while continuing to create greater opportunities for Vietnamese enterprises to participate more deeply in Samsung's global value chain./.