Vietnam wants to cooperate with Samsung in semiconductor development: official

Workers at Samsung Electronics in Bac Ninh province (Photo: VNA)

Vietnam hopes Samsung become a strategic investor in the context that the country is building a strategy to develop the semiconductor industry and promote innovation, Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc has told General Director of Samsung Vietnam Choi Joo Ho.

At their recent meeting, Ngoc spoke highly of the Republic of Korean group’s projects in Vietnam as well as its contributions to local socio-economic development.

She proposed the group continue supporting Vietnam in improving the capacity of domestic businesses to be able to participate in its supply chain, and coordinate closely with her ministry to practically and effectively operate training centres located at the National Innovation Centre (NIC).

The Ministry of Planning and Investment will coordinate with relevant agencies to soon build policies in accordance with the international situation and regulations, as well as those of Vietnam to ensure the interests of all parties in the spirit of harmonising benefits and sharing risks, Ngoc said, stressing the Vietnamese Government’s commitment to create a more favourable and attractive business and investment environment for foreign investors.

Choi Joo Ho said that Samsung is continuously expanding its investment in Vietnam, with about 1.2 billion USD added last year. Samsung has focused on developing supporting industries, and will strengthen collaboration with the NIC to operate a lab for innovation and information technology, train technology talent, and support start-up businesses.

As of late 2023, Samsung had invested over 20 billion USD in Vietnam. At present, more than 50% of Samsung products sold around the world are made in Vietnam./.