Samsung to invest in AI, semiconductors in Vietnam
In this article (5)
South Korean electronics giant Samsung is set to expand into new areas in Vietnam such as AI, semiconductors and digital transformation.
CEO Choi Joo Ho told Prime Minister Pham Minh Chinh at a meeting in Hanoi on Wednesday that the largest foreign direct investor in Vietnam expects support from the government in making investments in these areas.
Samsung has so far invested $23.2 billion in Vietnam and exported $54.4 billion worth of products last year.
Chinh promised continued support for the company in investing in efficient and successful businesses in Vietnam.
Samsung needs to continue to maintain its leading position by developing supporting industries, chips, semiconductors and promoting digital transformation in Vietnam, he added.
The government targets 8% GDP growth this year and double-digit expansion in the coming years.
To achieve the goals, it needs to improve the investment environment and foster strategic breakthroughs.
Chinh urged Samsung to set up training centers at the National Innovation Center, increase its investment in Vietnam and support start-up and innovation activities.
He also suggested that the company should have more Vietnamese executives and increase the number of local digital technology enterprises in its ecosystem.
Questions & Answers
Q.What is the total amount Samsung has invested in Vietnam to date?
What is the total amount Samsung has invested in Vietnam to date?
Samsung has invested a total of $23.2 billion in Vietnam so far. This substantial investment highlights the company's long-standing presence and economic commitment within the country, spanning various sectors and operations over time.
Q.What new areas does Samsung intend to expand into in Vietnam?
What new areas does Samsung intend to expand into in Vietnam?
Samsung plans to expand into new areas including artificial intelligence (AI), semiconductors, and digital transformation. This strategic move aligns with global technological trends and aims to further integrate advanced tech capabilities into Vietnam's economy.
Q.What specific requests did Prime Minister Pham Minh Chinh make to Samsung?
What specific requests did Prime Minister Pham Minh Chinh make to Samsung?
Prime Minister Chinh urged Samsung to establish training centres at the National Innovation Center, increase its investment, and support start-up and innovation activities. He also suggested more Vietnamese executives and increasing local digital technology enterprises in its ecosystem.
Q.What was the value of products Samsung exported from Vietnam last year?
What was the value of products Samsung exported from Vietnam last year?
Last year, Samsung exported products worth $54.4 billion from Vietnam. This figure demonstrates the significant contribution the company makes to Vietnam's export economy, reinforcing its position as a major foreign investor and producer.
Reader pulse
Samsung's Vietnam expansion:
24,283 votes so far