Samsung Vietnam

The South Korean tech giant would support the training of 100 experts and assist 50 local companies in applying the model of the smart factory in Vietnam.

The latest move would bring the total capital commitment of the South Korean giant to $19.2 billion, reaffirming its status as the largest foreign investor in Vietnam.

The figure places phones and accessories as Vietnam’s export items with the highest earnings in 2021.

Vietnam has exceeded its role as Samsung’s global production hub and would soon become its key R&D center in the future.

For both countries, the post-Covid economic partnership is the best way to minimize exposure to future trade disruptions and enhance supply-chain resilience.

The South Korean investor considers Vietnam an important global production hub and a strategic destination in its research and development activities.

Bac Ninh is home to some Samsung plants and other affiliates with total investment of roughly US$10 billion.

Vietnam remains a major production hub for Samsung, as revenue from Samsung Vietnam made up 30% of that of the South Korean tech giant in the global market last year

The Hanoi’s Mayor wants Samsung to support the city building smart city, smart transportation and digital transformation.

More than half of FDI firms operating in Vietnam suffered losses in 2019 but their combined revenue rose.