Samsung plans to turn into the “Metropolis” of electronic compounds in Viet Nam

By Nga Vu - Jul 27, 2017 | 12:08 PM GMT+7

TheLEADEROn July 26 Prime Minister (PM) Nguyen Xuan Phuc paid a visit to Samsung Electronics Viet Nam Thai Nguyen (SEVT) under Samsung Electronics in Viet Nam (Samsung Viet Nam), affirming that Vietnamese Government will create the most favorable conditions for SEVT’s success.

Samsung plans to turn into the “Metropolis” of electronic compounds in Viet Nam
PM visits SEVT's research and development area. Photo: VGP

This is the second time, the PM has visited SEVT, which is the biggest factory out of Samsung's nine factories in the world.

Shim Won Hwan, CEO of Samsung Viet Nam, informed that SEVT has been put into operation since March, 2014 with 66,000 employees. It is one of the biggest FDI factory (US$5 billion) in Viet Nam.

Samsung Viet Nam has the total of 170,000 employees. It contributed 22 per cent of Viet Nam’s export turnover in 2016 (US$39.9 billion). In 2017, Samsung Vietnam’s export turnover is expected to reach nearly US$50 billion, roughly a quarter of total export turnover of the country.

As committed to the PM three years ago, Samsung Viet Nam has increased its localization rate to 57% with 215 Vietnamese suppliers, the CEO added.

After visiting the production and electronic assembling lines, houses for workers and welfare facilities (canteens, entertainment areas, libraries, supermarkets ...) the PM appreciated SEVT’s investment, including high investment and disbursement rates.

The Prime Minister were impressed on SEVT’s strong investment in research and development and training of cadres, technicians and workers. In addition, the employees are entitled to the good accommodation, entertainment and salary regime.

Recognizing the contributions that SEVT has made, the PM reminded that SEVT has to continue to be a model enterprise in foreign investment in Vietnam. Vietnamese Government as well as the Thai Nguyen province’s authorities expects SEVT to develop further and become the “Metropolis” of electronic products in Vietnam. 

"Vietnamese Government will create favorable conditions for SEVT to achieve this goal, as well as resolutely protect the achievements Samsung group has achieved in Vietnam," the PM added.

The PM emphasized that thanks to free trade agreement between Vietnam and EU, which is about to be signed, Samsung Vietnam will have more new markets. Especially, the Ministry of Science and Technology will soon grant a certificate of hi-tech enterprise to Samsung Vietnam for satisfying necessary criteria. 

At the same time, the PM hoped that Samsung Vietnam will continue to facilitate Vietnamese enterprises’ participation in auxiliary supply chain and improve science and technology in accordance with the current industry generation 4.0.