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Vietnam president welcomes Samsung’s plan to raise investment capital to $20bn

Vietnam president welcomes Samsung’s plan to raise investment capital to $20bn

Tuesday, December 06, 2022, 19:39 GMT+7
Vietnam president welcomes Samsung’s plan to raise investment capital to $20bn
Vietnamese State President Nguyen Xuan Phuc (R) shakes hands with vice-chairman and CEO of Samsung Electronics Han Jong Hee in Seoul, December 6, 2022. Photo: Vien Su / Tuoi Tre

Vietnamese State President Nguyen Xuan Phuc met the leaders of three large Korean enterprises, namely Samsung Electrics, Hyosung, and KDB in Seoul on Tuesday as part of his ongoing state visit to South Korea.

During his conversation with President Phuc, vice-chairman and CEO of Samsung Electronics Han Jong Hee stressed the important role the president's visit plays on the occasion of the two countries' 30th anniversary of diplomatic relations.

He thanked the leader for helping Samsung’s revenue in Vietnam increase from US$35 billion to $65 billion when he served as the Vietnamese prime minister.

Samsung is planning to raise investment capital in Vietnam to $20 billion, Han added.

President Phuc congratulated the group on the success of effective investment in Vietnam and for reaching an investment capital of $18 billion in the country.

Vietnamese State President Nguyen Xuan Phuc (R) shakes hands with chairman of Hyosung Group Cho Huyn Joon in Seoul, December 6, 2022. Photo: Vien Su / Tuoi Tre

Vietnamese State President Nguyen Xuan Phuc (R) shakes hands with chairman of Hyosung Group Cho Huyn Joon in Seoul, December 6, 2022. Photo: Vien Su / Tuoi Tre

"The group has made great contributions to the relationship between the two countries, turning Vietnam into a global smartphone manufacturing center," he stated.

The leader welcomed Samsung's plan to increase its investment capital to $20 billion, wishing that the group would continue to invest in the fields of supporting industries and technology.

During their meeting, chairman of Hyosung Group Cho Huyn Joon said his group invested in all three regions of Vietnam with a total capital of $3.5 billion.

Hyosung wants to invest more in Vietnam in potential fields like environment and green growth, Cho noted. 

President Nguyen Xuan Phuc praised Hyosung's effective investment in many localities of Vietnam as well as the group’s plan to expand investment.

He suggested that the group cooperate with Vietnamese enterprises in supporting industries.

Vietnamese State President Nguyen Xuan Phuc (R) meets chairman and CEO of the Korea Development Bank (KDB) Kang Seoghoon in Seoul, December 6, 2022. Photo: Vien Su / Tuoi Tre

Vietnamese State President Nguyen Xuan Phuc (R) meets chairman and CEO of the Korea Development Bank (KDB) Kang Seoghoon in Seoul, December 6, 2022. Photo: Vien Su / Tuoi Tre

Meeting chairman and CEO of the Korea Development Bank (KDB) Kang Seoghoon, Phuc spoke highly of KDB’s good will to engage in finance-banking activities in Vietnam.

He asked the lender to continue helping Korean firms successfully do business in Vietnam, especially in green finance and sustainability with a focus on the green bond market.

The Vietnamese leader also welcomed KDB’s proposal to work with the Vietnamese Ministry of Finance to build a sustainable development plan for the Vietnam Development Bank.

Kang said KDB wants to share experience with Vietnam and offer capital to Korean firms to invest in fields of priority for Vietnam.

KDB is also exploring the possibility of launching new financial products and services in Vietnam, he added.

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!

Vietnamese State President Nguyen Xuan Phuc met the leaders of three large Korean enterprises, namely Samsung Electrics, Hyosung, and KDB in Seoul on Tuesday as part of his ongoing state visit to South Korea.

During his conversation with President Phuc, vice-chairman and CEO of Samsung Electronics Han Jong Hee stressed the important role the president's visit plays on the occasion of the two countries' 30th anniversary of diplomatic relations.

He thanked the leader for helping Samsung’s revenue in Vietnam increase from US$35 billion to $65 billion when he served as the Vietnamese prime minister.

Samsung is planning to raise investment capital in Vietnam to $20 billion, Han added.

President Phuc congratulated the group on the success of effective investment in Vietnam and for reaching an investment capital of $18 billion in the country.

Vietnamese State President Nguyen Xuan Phuc (R) shakes hands with chairman of Hyosung Group Cho Huyn Joon in Seoul, December 6, 2022. Photo: Vien Su / Tuoi Tre

Vietnamese State President Nguyen Xuan Phuc (R) shakes hands with chairman of Hyosung Group Cho Huyn Joon in Seoul, December 6, 2022. Photo: Vien Su / Tuoi Tre

"The group has made great contributions to the relationship between the two countries, turning Vietnam into a global smartphone manufacturing center," he stated.

The leader welcomed Samsung's plan to increase its investment capital to $20 billion, wishing that the group would continue to invest in the fields of supporting industries and technology.

During their meeting, chairman of Hyosung Group Cho Huyn Joon said his group invested in all three regions of Vietnam with a total capital of $3.5 billion.

Hyosung wants to invest more in Vietnam in potential fields like environment and green growth, Cho noted. 

President Nguyen Xuan Phuc praised Hyosung's effective investment in many localities of Vietnam as well as the group’s plan to expand investment.

He suggested that the group cooperate with Vietnamese enterprises in supporting industries.

Vietnamese State President Nguyen Xuan Phuc (R) meets chairman and CEO of the Korea Development Bank (KDB) Kang Seoghoon in Seoul, December 6, 2022. Photo: Vien Su / Tuoi Tre

Vietnamese State President Nguyen Xuan Phuc (R) meets chairman and CEO of the Korea Development Bank (KDB) Kang Seoghoon in Seoul, December 6, 2022. Photo: Vien Su / Tuoi Tre

Meeting chairman and CEO of the Korea Development Bank (KDB) Kang Seoghoon, Phuc spoke highly of KDB’s good will to engage in finance-banking activities in Vietnam.

He asked the lender to continue helping Korean firms successfully do business in Vietnam, especially in green finance and sustainability with a focus on the green bond market.

The Vietnamese leader also welcomed KDB’s proposal to work with the Vietnamese Ministry of Finance to build a sustainable development plan for the Vietnam Development Bank.

Kang said KDB wants to share experience with Vietnam and offer capital to Korean firms to invest in fields of priority for Vietnam.

KDB is also exploring the possibility of launching new financial products and services in Vietnam, he added.

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!

Duy Khang - Vien Su / Tuoi Tre News

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