Manufacturing News 27/01/2024, 16:50

306 Vietnamese enterprises become Samsung's tier-1 and tier-2 suppliers

The number of level 1 and level 2 Vietnamese firms that participate in Samsung's supply chain has expanded from 25 in 2014 to 306 in 2023.

306 Vietnamese enterprises become Samsung's tier-1 and tier-2 suppliers

Mr. Choi Joo Ho, General Director of Samsung Vietnam Complex, has just informed the Ministry of Planning and Investment about Samsung's recent business situation. At the same time, he affirms to always trust the business environment as well as the active and effective support of Vietnamese agencies.

Mr. Choi Joo Ho stated that Samsung is constantly increasing its investment in Vietnam, having invested around 1.2 billion USD in the last year. Samsung has concentrated on establishing supporting industries, such as training consultants and mold experts and collaborating with the National Innovation Center (NIC) to develop and build smart factories.

Through these cooperation programs, tier-1 and tier-2 Vietnamese enterprises participating in Samsung's supply chain have increased 12 times, from 25 businesses in 2014 to 306 businesses in 2023.

Mr. Choi Joo Hoo shared that Samsung will strengthen cooperation with NIC to operate innovation labs, information technology and train technology talent as well as support start-up businesses, and hope that the Vietnamese Government will continue to improve the business environment and have more preferential policies for FDI enterprises in the new situation.

At a recent meeting with the General Director of Samsung Vietnam Complex, Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc highly appreciated Samsung Group's projects in Vietnam, contributing to the socio-economy, especially focusing on social work, supporting Vietnamese businesses participating in the production chain.

In the future, the representative of the Ministry of Planning and Investment proposed that the Group continue to assist Vietnam in improving the capacity of domestic enterprises to participate in the Group's supply chain, as well as work closely with the Ministry of Planning and Investment to practically and effectively deploy training centers located at the National Innovation Center. 

The Ministry of Planning and Investment also requested Samsung to share international experiences with Vietnam and continue to implement activities on innovation and business support; affirming that the Vietnamese Government is committed to creating an increasingly favorable and attractive investment and business environment for foreign investors, including Samsung.



Congthuong/ Translator: Ngoc Mai

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