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Vietnamese PM visits Samsung’s chip manufacturers in S.Korea

Vietnamese PM visits Samsung’s chip manufacturers in S.Korea

Friday, July 05, 2024, 18:24 GMT+7
Vietnamese PM visits Samsung’s chip manufacturers in S.Korea
Vietnam’s Prime Minister Pham Minh Chinh writes in the memory book at the Samsung semiconductor cluster in Gyeonggi Province, South Korea, during his visit there on July 3, 2024. Photo: Duong Giang

Vietnamese Prime Minister Pham Minh Chinh on Wednesday paid a visit to South Korean conglomerate Samsung Electronics's semiconductor cluster in Gyeonggi Province, during which he pledged to continue facilitating the tech giant’s operations in Vietnam.

The visit was conducted as part of PM Chinh and his spouse's four-day trip to the Northeast Asian country, starting on June 30 at the invitation of his South Korean counterpart Han Duck Soo and his spouse, the Vietnam News Agency reported. 

Leaders of Samsung Electronics, including Vice Chairman and CEO Young Hyun Jun and CFO Park Hark Kyu, accompanied the Vietnamese PM in touring the semiconductor cluster, the largest of its kind in the world.

While looking at Samsung’s semiconductor product models at the mega chip cluster, Chinh expressed his great impression of the group’s achievements in the field of high technology in general and semiconductors in particular.

Highly appreciating Samsung’s effective investment activities in manufacturing electronic equipment and components in Vietnam since 2008, PM Chinh affirmed that the Vietnamese government will continue creating favorable conditions for Samsung to develop its business operations in the country.

Stressing Vietnam’s priority given to the semiconductor and AI industries in the future, he told the Samsung leaders that the country welcomes and encourages investors in those fields. 

He promised that Vietnam will further improve policies and institutions, enhance high-quality human resource training, and speed up infrastructural development to better service investors.

With this mammoth chip complex, South Korea aims to account for 10 percent of the global semiconductor market and boost self-sufficiency in the supply of key materials to 50 percent from the current 30 percent by 2030, according to Voice of Vietnam

Samsung Electronics, with revenue reaching about US$210 billion last year, has so far invested $22.4 billion in Vietnam and created jobs for about 90,000 workers.

After 16 years of Samsung's presence in Vietnam, 310 Vietnamese enterprises have become partners in its production chain, the Vietnam News Agency cited Samsung Electronics Executive Chairman Lee Jae Yong as saying at his separate meeting with PM Chinh in Seoul on Tuesday.

Samsung’s search and development center in Hanoi is employing 2,500 engineers and researchers, Lee added.

The tech giant is currently the largest foreign direct investor in Vietnam, with many large projects in Bac Ninh Province, Thai Nguyen Province, and Ho Chi Minh City, according to the Vietnam Government Portal.

The conglomerate’s mobile phone production operation in Vietnam constitutes over 50 percent of its global output.

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Vinh Tho / Tuoi Tre News

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