14TH NATIONAL CONGRESS OF THE COMMUNIST PARTY OF VIETNAM

Samsung heir to seek business opportunities in 3-day Vietnam trip

Oct 20, 2020 / 03:49 PM

Samsung Vice Chairman is scheduled to meet Vietnam’s Prime Minister Nguyen Xuan Phuc during the visit to discuss business and investment opportunities.

Samsung Electronics Vice Chairman Lee Jae-yong, the de facto leader of South Korea's top conglomerate, departed for his three-day trip to Vietnam on October 19.

Samsung Electronics Vice Chairman Lee Jae-yong. Photo: Yonhap.

Mr. Lee is scheduled to meet Vietnam’s Prime Minister Nguyen Xuan Phuc during the visit to discuss business and investment opportunities, Yonhap reported.

Besides the meeting with Vietnam’s leaders, he is scheduled to visit Samsung’s plants and the US$300-million R&D center that is under construction in Hanoi.

For his trip to Vietnam, Mr. Lee will be accompanied by Roh Tae-moon, who heads Samsung's mobile business, and Lee Dong-hoon, CEO of Samsung Display Co, Yonhap added.

This is Mr. Lee's second overseas trip this month following his visit to Europe and the first to Vietnam since October 2018.

Samsung currently has four subsidiaries in Vietnam, including Samsung Display Vietnam (SDV), Samsung Electronics Vietnam Bac Ninh (SEV), Samsung Electronics Vietnam Thai Nguyen (SEVT) and Samsung Electronics Ho Chi Minh (SEHC).

According to Samsung's statistics, around 50% of Samsung's smartphones and tablets are produced in Vietnam and exported to 128 countries and territories, including the US, Europe, Russia and Southeast Asia. This resulted in 58% of Samsung’s smartphone sales globally come from its production facilities in Vietnam.

In the 2008 – 2018 period, Samsung increased its total investment in Vietnam from US$670 million to over US$17.3 billion, a 26-fold rise.

Samsung heir to discuss investment plans in trip to Vietnam this week

19 Oct, 12:05

Vice Chairman of Samsung Lee Jae-yong is set to meet Prime Minister Nguyen Xuan Phuc during his trip to Vietnam.

Samsung committed to supporting Vietnam enterprises joining global value chains

22 Sep, 08:51

Samsung plays a significant role in promoting the Vietnam – South Korea relations and the development of Vietnam’s manufacturing sector, stated Deputy Prime Minister Trinh Dinh Dung.

Samsung stays in Vietnam not just because of incentives: ADB expert

11 Sep, 10:43

To ensure its place among front-runners in attracting global FDI in the future, Vietnam should prioritize quality over incentives in attracting investment capital, said an ADB expert.

Vietnam commits 3% budget to turbocharge AI and data economy

At least 3% of state budget spending will fund digital transformation, accelerating Vietnam’s shift toward a data-driven and AI-powered economy.

26 Feb, 02:46 PM

From labor-intensive to high-tech: Hanoi retrains for global edge

Raising the skill standards of high-tech workers is emerging as a decisive factor in strengthening Hanoi’s competitiveness as the capital accelerates its shift toward a knowledge-based industrial economy.

26 Feb, 09:28 AM

Hanoi craft villages resume production early, aiming for growth in 2026

After the Lunar New Year break, Hanoi’s traditional craft villages have quickly resumed production, fulfilled orders and prepared for new markets while blending heritage craftsmanship with modern technology to strengthen competitiveness and sustain growth in 2026.

24 Feb, 02:58 PM