Hanoi, (VNA) – Prime Minister Pham Minh Chinh has asked SamsungElectronics of the Republic of Korea to expand its operations in Vietnam duringa reception for the group’s CEO Roh Tae-Moon in Hanoi on August 5.

Hesuggested that Samsung continue to play a leading role in supporting personnel trainingand capacity building for Vietnamese enterprises so that more of them will beable to join Samsung’s supply chain and development ecosystem.  

TheGovernment leader highlighted the outstanding development of the strategic cooperativepartnership between Vietnam and the RoK in all fields. He noted that the RoK isnow the third largest trade partner of Vietnam, with bilateral trade valuereaching 78 billion USD in 2021, accounting for 11.6% of Vietnam’s totalforeign trade.

The RoK is the largest foreign investor in Vietnam with 9,383 valid investmentprojects worth nearly 80 billion USD, he said, describing Samsung’s investmentin Vietnam as a bright example.

“The Vietnamese government is committed to creating the best possibleconditions for foreign investors in general and Samsung in particular,” Chinhsaid, pledging to seriously consider and actively handle Samsung’s proposals,including the training of human resources to meet the requirements ofenterprises and investors.

He also called on Samsung to continue giving feedback on Vietnam’spolicies, institutions and mechanisms, and act as a bridge to bring more investorsfrom the RoK and over the world to Vietnam, thus diversifying supply chains.  

The Samsung executive appreciated Vietnam’s efforts and measures to put thepandemic under control and restore socio-economic development.

He thanked the Government and agencies of Vietnam for their support which hesaid helped Samsung overcome pandemic-caused difficulties and created afavourable environment for the group’s operations amidst a changing world.

He informed PM Chinh that Samsung Vietnam earned 34.3 billion USD from exportsin the first six months of 2022, up 18% from the same period last year, addingthat the company aims for 69 billion USD in export turnover this year and plansto invest an additional 3.3 billion USD in Vietnam.

According to Roh, Samsung Electronics is preparing for the trial production of Flip-chipBall Grid Array in Vietnam and commercial production is slated to beginin July next year at its factory in Thai Nguyen province, northern Vietnam.

The group also plans to launch a R&D centre in Hanoi in late2022 or early 2023, which will serve not only Vietnam but also the entireSoutheast Asian region.

The Samsung CEO added that the group will help improvecompetitive capacity for 50 Vietnamese suppliers, and promote cooperation withVietnamese universities and research establishments./.