Samsung's exports reach $500 billion, plans expanded R&D investment in Vietnam

Prime Minister Le Minh Hung, welcoming Samsung Electronics CEO Roh Tae-moon during his visit to Vietnam, said the government recognizes and highly values Samsung's substantial contributions to the country.

From manufacturing hub to technology hub

Vietnam is shifting from primarily attracting capital to developing a strategic investment platform, and from attracting individual projects to building industry clusters, value chains and innovation ecosystems. 

Hung emphasized that Vietnam wants to deepen cooperation with South Korea in high-tech sectors, particularly semiconductors, artificial intelligence, data centers, research and development, innovation and digital transformation.

Building on the comprehensive strategic partnership between the two countries and Samsung's success in Vietnam, the government wants Samsung to remain an important bridge in helping Vietnam strengthen its technological capabilities, develop its industries and participate more deeply in global value chains.

The Vietnamese government will continue to ensure policy stability and improve the investment environment, while protecting the legitimate rights and interests of foreign investors. 

It is also prepared to facilitate strategic investors, including Samsung, through support mechanisms for strategic and high-tech projects.

Hung urged Samsung to continue viewing Vietnam as a long-term base for investment, manufacturing and business, expand its investment and improve the quality and efficiency of its operations in the country. 

He also called on the company to help transform Vietnam from a 'manufacturing base' into a 'technology, R&D and innovation hub.'

He urged Samsung to strengthen links with Vietnamese companies, proactively identify and develop local suppliers, help domestic firms improve their technological capabilities and increase the use of locally sourced products and services in Samsung's production and supply chains.

Samsung expands production and investment plans

Samsung Electronics CEO Roh Tae-moon thanked the prime minister for the meeting and congratulated Vietnam and the Prime Minister on National Day and his election as head of government. 

He also congratulated Vietnam's men's national football team on winning the AFF Championship for a second consecutive time.

Roh said he hoped bilateral ties would continue to deepen and develop. 

He said Samsung's mobile phone manufacturing entities in Bac Ninh and Thai Nguyen provinces reached $500 billion in cumulative exports at the end of June, 17 years after Samsung began production in Vietnam in April 2009.

Samsung's Galaxy Fold 8, launched in early August, has been well received in global markets, Roh said. 

The company expects to maintain double-digit growth through the end of the year. Samsung's investment in Vietnam has also continued to grow, reaching a cumulative $24 billion as of the end of last year.

Roh said Samsung supports Vietnam's new priorities for attracting foreign investment and does not view Vietnam simply as a manufacturing base, but as an important strategic partner in research and development and high technology.

Samsung plans to further expand its R&D investment in high-tech fields and continue supporting high-tech workforce training so Vietnamese companies can participate more deeply in global supply chains.

The Samsung R&D Center in Hanoi is also expanding cooperation with major Vietnamese universities and investing more time and resources in strengthening technological capabilities and developing talent.

Going forward, Samsung will continue contributing to R&D, talent development and efforts to strengthen the competitiveness of Vietnamese companies, Roh said.