Samsung vows more support for Vietnamese firms to enter its supply chain

Chairman Phong spoke highly of operation of Samsung, one of the biggest foreign investors in Vietnam, noting its contribution of about 20% of the country’s export revenue. The Samsung complex in the Saigon Hi-tech Park has operated effectively since mid-2016, creating jobs for more than 7,000 people.

He asked the company to continue community activities, pay attention to its employees’ life and human resources training, and raise the rate of locally made components in its products.

HCM City always makes efforts to improve the local investment climate and create the best possible conditions for foreign investors, including Samsung, the official added.

For his part, Shim said more than 90% of Samsung products made at the complex in the Saigon Hi-tech Park are exported. This complex alone is expected to earn nearly US$3.5 billion in export turnover in 2017.

He asked HCM City’s authorities to further assist his firm’s development.

Aside from stepping up business activities in Vietnam, Samsung will also actively help Vietnamese companies, including those in HCM City, by sending Korean experts to give them advice.

At a recent support industry exhibition, many Vietnamese enterprises came to learn about components that Samsung needs and about opportunities to participate in the firm’s supply chain, he noted.