Samsung has invested 22.4 billion USD in Vietnam and plans to pour in another 1 billion USD each year.

On the afternoon of May 9, Prime Minister Pham Minh Chinh received Mr. Park Hark Kyu, General Director in charge of finance of Samsung Group (Korea), who is visiting and working in Vietnam.

Since 2014, the number of Vietnamese enterprises participating in the group's supply chain has increased 12 times, from the initial 25 to the current 309 companies.

Mr. Park said Samsung plans to invest an additional 1 billion USD per year in Vietnam in the coming time.

At the meeting, Prime Minister Pham Minh Chinh said that the group's business results have contributed positively to import-export turnover and socio-economic development. He said that the Vietnamese Government will continue to create favorable conditions in terms of investment environment, administrative procedures, infrastructure, etc. to help reduce compliance and logistics costs for foreign enterprises, including Samsung.

At the same time, he hopes Samsung will continue to support Vietnamese businesses to increase their capacity, participate in the supply chain and become partners in the group's ecosystem.

Samsung is currently the largest foreign direct investor in Vietnam with four large factories in Bac Ninh, Thai Nguyen and Ho Chi Minh City, with a total investment of about 22.4 billion USD. Currently, mobile phones manufactured in Vietnam account for over 50% of Samsung's global production output. Their exports of this item are expected to increase by more than 10% this year, compared to nearly 56 billion USD in 2023.

Last year, four businesses in Vietnam contributed one-third of Samsung’s total global profits. The group has repeatedly affirmed its desire to maintain its position as the largest FDI investor in Vietnam.