PM speaks highly of Samsung’s investment in Vietnam

Thursday, 2017-07-27 10:33:20
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PM Nguyen Xuan Phuc tours the research and development section at the Samsung Thai Nguyen company.
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NDO/VNA – Prime Minister Nguyen Xuan Phuc visited Samsung Electronics Vietnam Thai Nguyen (SEVT) during his working trip to the northern province of Thai Nguyen on July 26.

The PM expressed his appreciation for Samsung’s investment in Vietnam with its high committed capital and disbursement ratio. He especially praised the technology company’s commitment to exporting US$50 billion worth of products this year.

He said that he is impressed with Samsung’s operations in Vietnam, which focuses on not only research and development (R&D) but also manufacturing and assembly. He hailed the firm for improving the living conditions of employees and workers and obtaining a localisation rate of 57% for their products.

The Government leader thanked the group for its contributions to Vietnam’s development, asking it to remain as a role model in conducting long-term business in the country.

Samsung was also urged to pay greater attention to the living conditions of workers and environmental protection while setting an example for other businesses.

The PM also asked the group, as the biggest foreign-invested company in Vietnam, to create favourable conditions for local businesses to develop the support industries and provide the necessary services.

Since it began operations in 2014, SEVT has increased its capital and revenue by 250 times to US$5 billion and US$20.4 billion respectively.

IT is a member of Samsung Electronics Vietnam, which contributed 20 percent of the country’s exports in 2016 (US$39.9 billion).

Samsung Vietnam is targeting an export turnover of US$50 billion and a localisation rate of 57 percent for its products, which are supplied by 215 Vietnamese companies.