PM Backs Samsung’s Expansion in Vietnam

Tuan Minh

15:26 05/05/2016

BizLIVE - Vietnamese PM Nguyen Xuan Phuc has shown his support for Samsung to expand its operations in the country.

PM Backs Samsung’s Expansion in Vietnam

PM Nguyen Xuan Phuc holds talks with Samsung CEO Shin Jong Kyun. (Photo: VGP)

Prime Minister Nguyen Xuan Phuc has encouraged South Korea’s Samsung Group to further invest in Vietnam in other fields outside of electronics, in such industries as energy, infrastructure, seaport, health care, and science-technology, according to the government’s website.
During a reception for Samsung CEO Shin Jong Kyun in Hanoi on Wednesday, the government chief noted that Samsung is the biggest single foreign investor in Vietnam with six projects worth $14.86 billion.
The South Korean tech group’s projects have helped Vietnam balance its external trade and created over 130,000 jobs.
He said Samsung’s substantial and long-term investments in Vietnam are evidence of the Southeast Asian country’s appeal to foreign investors. He reiterated the commitment to creating favorable conditions for foreign investors, including Samsung.
Shin Jong Kyun highlighted the good pace of capital disbursement of its projects in the northern provinces of Bac Ninh and Thai Nguyen. He pledged that Samsung would strictly comply with Vietnam’s laws on investment, business and social security for laborers.
Samsung plans to produce over 200 million phones this year, the executive tipped.