Samsung wants to turn Viet Nam into research and development center
VGP – President and Chief Financial Officer (CFO) of Samsung Park Hark Kyu said the South Korea's tech giant considers Viet Nam a global manufacturing hub and wants to make it a major research and development center.
![Viet Nam to become "centre of R&D centres" - Ảnh 1.](https://bcp.cdnchinhphu.vn/344443456812359680/2023/4/14/img8115-1681383551290649405440-1681442814036395153717.jpg "Viet Nam to become "centre of R&D centres" - Ảnh 1.")
Prime Minister Pham Minh Chinh (R) and Park Hark Kyu, Head of Corporate Management Office at DX Division of Samsung Electronics. Photo: VGP/Nhat Bac
Park made the above statement during his meeting with Vietnamese Prime Minister in Ha Noi on April 13.
Last year, Samsung inaugurated a research and development center in Ha Noi and provided training to ensure there would be more Vietnamese in its leadership ranks.
The US$220-million center is the Korean conglomerate’s biggest research and development facility in Southeast Asia - a testament to Samsung's long-term operation in Viet Nam.
At present, more than 2,000 Vietnamese engineers are working at the center while the number of level 1 and 2 Vietnamese suppliers in Samsung's global supply chain has increased tenfold since 2014, from 25 to 257.
Samsung has invested US$18 billion in Viet Nam so far, and is planning to increase it to US$20 billion. Its profits in Viet Nam reached US$73.7 billion in 2022.
Around 50 percent of Samsung's mobile phones are now made in Viet Nam.
Park took the occasion to thank the central and local governments for supporting Samsung over the past time and spoke highly of Viet Nam's business environment.
Prime Minister Pham Minh Chinh said Samsung's operation in Viet Nam has contributed to boost Viet Nam's exports, growth and jobs, thus helping the country to build an independent and self-reliant economy.
Pham pledged that the Government of Viet Nam will continue dialogues with foreign investors, including Samsung to timely find appropriate solutions to difficulties faced by foreign investors./.
