THE SOCIALIST REPUBLIC OF VIET NAM
Government News
DPM receives Samsung Viet Nam CEO
VGP - The Government of Viet Nam remains committed to accompanying and supporting foreign investors, including Samsung Viet Nam, said Deputy Prime Minister Tran Luu Quang.
Deputy Prime Minister Tran Luu Quang (R) and Samsung Viet Nam CEO Choi Joo Ho, Ha Noi, July 21, 2023 - Photo: VGP/Hai Minh
The Deputy Prime Minister made the above statement on July 21 at a reception for Samsung Viet Nam CEO Choi Joo Ho.
The host leader hailed the firm’s business performance in Viet Nam, saying Samsung Viet Nam is a success story on foreign direct investment in the country.
He shared difficulties faced by the firm amid global headwines this year, expressing his belief new products would help increase its sales.
In reply, CEO Choi announced that Samsung has invested US$20 billion in Viet Nam with a staff numbering more than 100,000 working at its factories in Ha Noi, Ho Chi Minh City, Bac Ninh and Thai Nguyen.
The firm always recorded a high export growth rate over the years, with its export earnings making a record high of US$65 billion last year.
He revealed that Samsung Viet Nam would soon introduce the new 5th-generation Galaxy Fold series in an effort to maintain its export growth in the context that global demand for smart phones is forecast to decrease by 8% due to economic difficulties.
Choi said that every year Samsung increases investment by US$1 billion to maintain competitiveness and sustainable development./.