VNA reported that on the afternoon of December 12, at the National Assembly House, National Assembly Chairman Tran Thanh Man received leaders of the Samsung Vietnam complex led by Mr. Choi Joo Ho, General Director of Samsung Vietnam.
The National Assembly Chairman highly appreciated the efforts, determination and achievements of Samsung Group in doing business in Vietnam in recent years.
Although business results in the first 11 months of 2024 (revenue of over 58 billion USD and exports of about 50.8 billion USD) decreased slightly compared to 2023 due to difficulties in supply sources and fluctuations in the world economy, it has contributed positively to Vietnam's import-export turnover and the overall economic development of the country.
In addition, Samsung Group has accompanied, coordinated and shared information and experiences of other countries in building preferential policies and investment support.
The National Assembly Chairman stated that after more than three decades of establishing diplomatic relations, especially with the upgrading of relations to Comprehensive Strategic Partnership in 2022, Vietnam-Korea relations are at the best stage of development in history.
This is the basis for businesses of the two countries to feel secure in long-term cooperation, on a larger scale and with more success. For many years, Korea has always maintained the number one position in direct investment in Vietnam (accumulated to 89.11 billion USD as of November 30, 2024).
Thanking National Assembly Chairman Tran Thanh Man for taking the time to meet him, Samsung Vietnam General Director Choi Joo Ho reported to the National Assembly Chairman about the production and business activities and investment plans in the coming time, and at the same time raised some recommendations and proposals of the Group.
Accordingly, in 2023, Samsung Vietnam's export turnover will be about 55.7 billion USD, accounting for 16% of Vietnam's total export turnover. As of November 2024, the export turnover will be about 50.8 billion USD, equivalent to the same period last year.
Regarding the investment plan in the coming time, Mr. Choi Joo Ho affirmed that the Group always considers Vietnam as the top priority country to continue investing in the coming time.
After the official visit to Korea by Prime Minister Pham Minh Chinh in July 2024, the Group reported on expanding investment and investing in new projects in Vietnam; including the decision to invest in building the world's largest display screen manufacturing facility in Bac Ninh.
Appreciating the National Assembly Standing Committee's comments on the draft Decree on the establishment, management and use of the Investment Support Fund, the General Director of Samsung Vietnam hopes that the Government will soon issue this Decree.
National Assembly Chairman Tran Thanh Man said that the Investment Support Fund will support businesses in general, including Korean businesses.
Regarding the semiconductor sector, the National Assembly Chairman emphasized that Vietnam welcomes and wishes to have close and comprehensive cooperation with countries, economies, businesses and the world's leading partners in semiconductors, including Samsung Group.
In the coming time, the National Assembly Chairman proposed that Samsung Group support Vietnam in improving the capacity of domestic enterprises so that they can participate in the Group's supply chain.
The National Assembly Chairman hopes that the Group will become a strategic investor, making the largest contribution to Vietnam's economy, developing supporting industries, chips and semiconductors, and promoting innovation in Vietnam.
National Assembly Chairman Tran Thanh Man affirmed that the Party, State, National Assembly and Government of Vietnam always support and are ready to create a favorable legal corridor for investment, production and business activities of the domestic and foreign business community, including Korean enterprises and Samsung Group.
