Samsung supports Vietnam’s sustainable development

11:25 | 03/01/2017 Companies

(VEN) - Samsung has invested about US$11.4 billion after 20 years of being available in the Vietnamese market, significantly contributing to creating jobs for workers as well as promoting the development of support industries.  

samsung supports vietnams sustainable development
Deputy Prime Minister Trinh Dinh Dung speaks at a seminar

Increasing attractiveness

According to the Vietnamese Ministry of Planning and Investment, Samsung’s investment capital in Vietnam focuses on electronics, high-tech, transport, energy and real estate.

In addition to giant projects in Bac Ninh, Thai Nguyen and Ho Chi Minh City, Samsung has agreed on the location of its research and development center in Hanoi’s Manor Central Park in the field of real estate, while working with Viettel to develop smart bus management and smart healthcare systems in Vietnam as for information technology.

Samsung has also considered investment in many other key projects such as Vung Ang 3 Thermal Power Plant, Long Thanh International Airport, Long Son Petrochemical Complex and shipyard project in Khanh Hoa.

Thanks to investment in a series of projects, Samsung has contributed several tens of billions of US dollar to Vietnam’s export turnover. In the future, Samsung would turn Vietnam into its global manufacturing base for electronic products.

Samsung’s numerous projects have created jobs for more than 130,000 workers in Vietnam, accounting for nearly 50 percent of its total workers in the world.

With such results, Samsung has not only become the largest foreign investor in Vietnam but also contributed to increasing the attractiveness of the Vietnamese investment environment in order to engage more and more foreign invetors.

samsung supports vietnams sustainable development

Samsung Electronics Vietnam Co., Ltd. Director Yoonho Jang

Promoting support industries

Deputy Prime Minister Trinh Dinh Dung highly appreciated the leading role of Samsung in providing support for Vietnamese businesses at a seminar on development solutions for Vietnam’s support industries organized by the Ministry of Industry and Trade on November 25.

Samsung has significantly contributed to the development of Vietnam’s support industries after 20 years. Samsung Electronics Ho Chi Minh City CE Complex (SEHC) General Director Lee Sang Su said that Samsung has made efforts together with the Vietnamese government to develop support industries in order to ensure the global competitiveness through many practical action programs.

Samsung has always attached much important to seeking Vietnamese outstanding businesses as they have played a key role in the development of Samsung. Some 191 Vietnamese businesses have provided electronic components for the company, including 13 tier-1 suppliers and 178 tier-2 units. In particular, Samsung has cooperated with the Ministry of Industry and Trade to seek new suppliers and organize many seminars to promote the development of Vietnam’s support industries.

Thanks to support and advice, many Vietnamese businesses have become Samsung’s suppliers. Viet Hung Company is seen as a typical example with changes after three months of receiving advice from Samsung. From its success, Samsung has confidence to give advice to other companies in order to seek more suppliers.

Deputy Prime Minister Trinh Dinh Dung expected the presence of many leading companies like Samsung to promote Vietnam’s support industries.

Responsible for the community

Vietnam has not only become an attractive destination in the eyes of RoK investors but also been a home of Samsung. With many corporate social responsibility (CSR) activities, the company has made great contributions to the Vietnamese community.

After 20 years of operations in Vietnam, Samsung has deployed many social activities such as giving the Smart Library and Smart School programs for Vietnamese schools.

Samsung has also organized many voluntary programs in four large cities in Vietnam with the participation of more than 100 staff. Volunteers have worked together to repair old schools, give gifts to more than 1,000 students and sponsor the Smart Library program for children, contributing to improving and enhancing the quality of life.

Samsung’s efforts have brought great improvements for Vietnam’s socioeconomic development, contributing to creating an attractive destination and friendly environment in order to further promote investment attraction.