Government backs Samsung’s long-term business strategy in Viet Nam: Deputy PM

Deputy Prime Minister Le Minh Khai told Director General of Samsung Vietnam Complex Choi Joo-ho that the Vietnamese Government backs Samsung's long-term business strategy in Viet Nam during his reception for the business executive in Ha Noi on December 6.
Government backs Samsung’s long-term business strategy in Vietnam: Deputy PM
Deputy Prime Minister Le Minh Khai hosted a reception for Director General of Samsung Vietnam Complex Choi Joo-ho in Ha Noi on December 6. (Photo: VNA)

Informing the guest that he is to visit the Republic of Korea within the framework of the bilateral dialogue mechanism on economic cooperation at deputy prime ministerial level, Khai said that during the visit, he and his RoK counterpart will evaluate outcomes of the economic partnership between the two countries since their previous dialogue in 2019.

Samsung is a big investor in Viet Nam, so the Vietnamese Government wants to listen to its opinions in order to discuss with the RoK side how to create more favourable conditions for the firm to operate effectively, the Deputy PM said.

Choi Joo-ho told the host that currently, Samsung has operated six production factories, one research centre and one sales entity in Viet Nam.

Apart from mobile phone and household appliance production, Samsung also manufactures main parts of televisions and telephones, he said, adding that the firm is employing 110,000 employees in Viet Nam. According to Choi, so far, Samsung has disbursed 100 percent of its registered capital of 17.7 billion USD in Vietnam.

He said that during the fourth wave of COVID-19 in Viet Nam, the firm has received great support from Vietnamese localities, adding that its factories in the north resumed production in August and those in the south have operated stably since November.

Last year, Samsung’s revenue reached 56.7 billion USD and the figure is expected to rise 15 percent this year, he said.

The executive thanked the Vietnamese Government for assisting the firm over the years, expressing hope that Viet Nam will continue to maintain safe and flexible adaptation to and effective control of the pandemic to ensure that production is not interrupted.

Choi gave some proposals regarding the global minimum corporate tax in line with the regulations of the Organisation for Economic Cooperation and Development (OECD).

Deputy PM Khai pledged that Viet Nam will work to access more vaccine sources to enable businesses to operate safely in the new normal situation, while urging enterprises, including Samsung, to continue to coordinate with local government to effectively control the pandemic for long-term operations.

He lauded Samsung’s investment in a 220-million-USD research and development centre in Viet Nam, which is scheduled to complete in 2022, affirming that the Vietnamese Government supports the firm’s long-term business strategy in Viet Nam. He asked Samsung to report its difficulties to Vietnamese authorised agency for timely solutions.

Stressing Viet Nam's determination to deliver on its commitments to businesses, Deputy PM Khai said that Viet Nam wants to listen to feedback from the business community in response to changes in policies.

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(Source: VNA)