The PM appreciated Samsung’s investment in Vietnam with its high committed capital and disbursement ratio. He especially praised the technology’s commitment to exporting 50 billion USD worth of products this year.

He said that he is impressed with Samsung’s operation in Vietnam, which focuses on not only research and development (R&D) but also manufacturing and assembly. He hailed the firm for improving the living conditions for employees and workers and reaching a localisation rate of 57 percent for their products.

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Prime Minister Nguyen Xuan Phuc (centre) visits Samsung Electronics Vietnam Thai Nguyen 

The Government leader thanked the group for its contributions to Vietnam’s development, asking it to remain a role model in doing long-term business in the country.

Samsung was also urged to pay more attention to the living conditions of workers and environmental protection while setting an example for other businesses.

The PM also asked the group, as the biggest foreign-invested company in Vietnam, to create favourable conditions for local businesses to develop support industries and provide necessary services.

Since it started operating in 2014, SEVT has increased its capital and revenue by 250 times to 5 billion USD and 20.4 billion USD.

IT is a member of Samsung Electronics Vietnam, which contributed 20 percent of the country’s exports in 2016 (39.9 billion USD).

Samsung Vietnam targets an export turnover of 50 billion USD and a localisation rate of 57 percent for its products, which are supplied by 215 Vietnamese companies.

Source: VNA