Deputy Prime Minister Vuong Dinh Hue (R) meets outgoing General Director of Samsung Vietnam Shim Won Hwan (Photo: VNA)Hanoi (VNA) – Deputy Prime Minister Vuong Dinh Hue hosted areception in Hanoi on December 21 for outgoing General Director of SamsungVietnam Shim Won Hwan and Shim’s successor Choi Joo Ho.
Hue spoke highly of the contributions of Samsung Vietnam and Shim inparticular to the socio-economic development of Vietnam.
He expressed his hope that the firm’s new head, Choi Joo Ho, will have asuccessful office tenure in Vietnam and keep in close coordination with the Vietnamesegovernment during the firm’s operation.
The Deputy PM pledged that the Vietnamese Government will provideoptimal conditions for Samsung to turn Vietnam into the firm’s global productionhub.
According to Shim, Samsung Vietnam’s export revenue this year isestimated to grow 12 percent to reach 60 billion USD, accounting for about 25percent of Vietnam’s total exports.
He affirmed that Samsung will carry on implementing its strategy oflong-term investment in Vietnam as it considers the nation its largest globalproduction hub, with Samsung Thai Nguyen being the firm’s biggest factory worldwide.
So far, Samsung has disbursed over 90 percent of the 17.3 billion USD thatit had registered to invest in Vietnam, Shim noted, adding that a networkconnecting Samsung and its subsidies with Vietnamese enterprises has beenformed.
He expressed his hope that the Vietnamese Government will continuebacking the firm’s operations in the future.
Hue said that in 2018, Vietnam fulfilled all socio-economic targets forthe whole year with the GDP growth of 6.9-7 percent and import-export revenueof 480 billion USD, up 13 percent year-on-year.
The contributions that Samsung has made to the growth of Bac Ninh, ThaiNguyen, and Ho Chi Minh City where its factories are located are substantial,helping to greatly improve the nation’s economic results, the Deputy PM noted.
After 30 years of attracting foreign direct investment, Vietnam ismoving to prioritise projects with a high connectivity capacity that cansupport Vietnamese firms to join the global value chain, he said.
Hue suggested that Samsung pay more attention to development researchwith a base in Hanoi, developing semiconducting technology in Vietnam, andenhancing the localisation ratio of its products.
The Vietnamese Government will soon issue a policy to promote the growthof its value chain, determined to reinforce the macro-economic foundations for thegrowth of local businesses, he stressed.–VNA
VNA
