Business
Samsung to help boosting Vietnam’s supporting industry
Samsung will support Vietnam enterprises to become Samsung component provider, as well as develop Vietnam’s supporting industry, General Director of Samsung Electronics Vietnam Han Myoung-sup said at a seminar in Hanoi on July 15.
Addressing the seminar, Deputy Minister of Industry and Trade Tran Tuan Anh said Samsung Electronics Vietnam is being one of the biggest FDI investors in Vietnam but the number of domestic enterprises engaged in Samsung’s production chain and supply remains low, accounting for less than 10% of the Korean firm suppliers.
Deputy Minister Tran Tuan Anh admitted that though a number of favourable mechanisms and policies have been designed, they have not been implemented strongly enough to support Vietnamese firms in making qualified supporting industry products.
The Ministry of Industry and Trade has submitted a decree on supporting industry development to the Government for approval. The decree includes feasible and comprehensive mechanisms and policies in accordance with Vietnam’s current regional and international economic integration, he noted.
The ministry will coordiante with Samsung to seek local firms that have the capacity and capability to become the direct or indirect provider for Samsung.
Discussing measures to develop Vietnam’s supporting industry, General Director of Samsung Electronics Vietnam Han Myoung-sup assessed the indispensable role of domestic enterprises.
To develop supporting industries, Vietnam needs to provide capital and policy assistance and ensure the sale of the sector’s products, the General Director said while asking for high resolve and long-term vision from businesses.
Samsung Vietnam is ready to cooperate in the areas that it can provide technical assistance, he committed.
Also at the seminar, Samsung Vietnam announced a list of components it wants to source from Vietnamese enterprises and met face-to-face with local firms to to discuss the possibility of becoming Samsung component providers.
According to Samsung Vietnam, its existing 2 hi-tech complexes to produce mobile devices and components in Bac Ninh and Thai Nguyen provinces exported over 26.25 billion USD worth of products last year and created jobs for over 100,000 labourers.
Samsung also has established a Research and Development (R&D) Center in Hanoi with 1,450 employees and in the near future it will become the key R&D center in Southeast Asia.
Deputy Minister Tran Tuan Anh admitted that though a number of favourable mechanisms and policies have been designed, they have not been implemented strongly enough to support Vietnamese firms in making qualified supporting industry products.
The Ministry of Industry and Trade has submitted a decree on supporting industry development to the Government for approval. The decree includes feasible and comprehensive mechanisms and policies in accordance with Vietnam’s current regional and international economic integration, he noted.
The ministry will coordiante with Samsung to seek local firms that have the capacity and capability to become the direct or indirect provider for Samsung.
Discussing measures to develop Vietnam’s supporting industry, General Director of Samsung Electronics Vietnam Han Myoung-sup assessed the indispensable role of domestic enterprises.
To develop supporting industries, Vietnam needs to provide capital and policy assistance and ensure the sale of the sector’s products, the General Director said while asking for high resolve and long-term vision from businesses.
Samsung Vietnam is ready to cooperate in the areas that it can provide technical assistance, he committed.
Samsung will support Vietnam enterprises to become Samsung component provider, as well as develop Vietnam’s supporting industry.
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According to Samsung Vietnam, its existing 2 hi-tech complexes to produce mobile devices and components in Bac Ninh and Thai Nguyen provinces exported over 26.25 billion USD worth of products last year and created jobs for over 100,000 labourers.
Samsung also has established a Research and Development (R&D) Center in Hanoi with 1,450 employees and in the near future it will become the key R&D center in Southeast Asia.
