Samsung devises measures to boost Vietnam's electronics industry

Samsung will research measures to help develop Vietnam’s electronics industry, General Director of Samsung Electronics Vietnam Han Myoung-sup said at a seminar in Hanoi on July 15.

At the seminar (Credit: moit.gov.vn)

The General Director underlined contributions made by Samsung Electronics Vietnam to attract foreign investments in component manufacturing. The company has also helped the country improve its export indexes and create a number of jobs.

To develop supporting industries, the country needs to provide capital and policy assistance and ensure the sale of the sector’s products, the executive said while asking for high resolve and a long-term vision from businesses.

Deputy Minister of Industry and Trade Tran Tuan Anh admitted that although a number of favourable mechanisms and policies have been designed, they have not been adequately implemented to support Vietnamese firms in creating 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.

At the seminar, Samsung Vietnam announced a list of components it wants to source from Vietnamese companies and met with local firms to to discuss the possibility of becoming Samsung component providers.

The seminar drew representatives from more than 200 Vietnamese enterprises and Government agencies such as the Ministry of Finance and the Ministry of Planning and Investment.

Samsung first invested in Vietnam in 1995 but became more prominent in the country in recent years after constructing two hi-tech complexes to produce mobile devices and components in Bac Ninh and Thai Nguyen provinces with a combined investment of US$7.5 billion.

The two facilities together exported over US$26.25 billion worth of products last year and created jobs for over 100,000 labourers.

In May of this year, Samsung commenced construction on the Samsung Consumer Electronics Ho Chi Minh City Complex, covering 70 hectares of the Ho Chi Minh City Hi-tech Park with a total investment of US$1.4 billion.

(Source: nhandan.org.vn)