Prime Minister applauds Samsung investment in Vietnam
(VOVWORLD) -Prime Minister Nguyen Xuan Phuc has said the Republic of Korean businesses, particularly Samsung, have been the biggest foreign investor in Vietnam over the years.
 Prime Minister Nguyen Xuan Phuc (R) received Shin Jong-kyun, President and CEO of Samsung Electronics (Photo:VNA) |
At a reception in Hanoi on Friday for Shin Jong-kyun, President and CEO of Samsung Electronics, the Prime Minister pledged favorable conditions for foreign investors to do business in Vietnam. He called on Samsung to continue assisting Vietnam in technology transfer to create opportunities for local support industry, especially small and medium-sized enterprises.
Shin Jong-kyun said that Samsung plans to increase the number of Vietnamese firms joining its supply chain to 29 later this year and 50 in the next 3 years. He added that Samsung plans to export products worth more than 50 billion USD this year, accounting for 20% of Vietnam’s total export turnover.