Samsung Vietnam earns US$3.8 billion in profit in 2020
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
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
Vice Chairman of Samsung Lee Jae-yong is set to meet Prime Minister Nguyen Xuan Phuc during his trip to Vietnam.
The move would make Samsung's global production more efficient, stated the company.
A trade surplus of US$10.08 billion as of August 15 puts Vietnam in a strong position to surpass the record figure of US$11.12 billion in 2019.
Vietnam’s effective measures against Covid-19 has been instrumental for Samsung Vietnam to maintain positive business performance, said Samsung Vietnam’s CEO Choi Joo Ho.
Vietnam's exports slightly declined by 0.9% year-on-year to US$100.21 billion in the January-May period, and imports decreased 4.6% to US$96.67 billion.
Vietnam's exports rose 2% year-on-year to US$80.86 billion in the January-April period, and imports edged up 0.3% to US$78.08 billion.
Vietnam's exports rose 7.5% year-on-year to US$63.23 billion in the January-March quarter, and imports reached US$59.49 billion, representing an increase of 3.7%.
Vietnam's trade turnover reached US$473.73 billion in the January – November period, of which its exports amounted to US241.42 billion, up 7.8% year-on-year, and imports totaled US$232.31 billion, up 7.4%.
Around 50% of Samsung's smartphones and tablets are produced in Vietnam and exported to 128 countries and territories.