Business

Finance Ministry creates favourable conditions for FDI companies: Minister

Vietnam’s Finance Ministry will continue to create favourable conditions for foreign direct investment (FDI) companies to operate effectively and sustainably in the country, Finance Minister Ho Duc Phoc said on January 10 when meeting Samsung Electronics President and Chief Financial Officer Park Hark-kyu.
Finance Ministry creates favourable conditions for FDI companies: Minister ảnh 1Finance Minister Ho Duc Phoc on January 10 meets Samsung Electronics President and Chief Financial Officer Park Hark-kyu. (Photo: VNA)
Hanoi (VNA) – Vietnam’s Finance Ministry will continue to create favourable conditions for foreign direct investment (FDI) companies to operate effectively and sustainably in the country, Finance Minister Ho Duc Phoc said on January 10 when meeting Samsung Electronics President and Chief Financial Officer Park Hark-kyu.

At the meeting, Phoc said that Samsung Electronics is the biggest investor of the Republic of Korea (RoK) in Vietnam, which has greatly contributed to the country’s export revenue, job creation, and state budget.

The ministry will continue to accompany the company, solve difficulties and create favourable conditions for its projects in Vietnam, the minister affirmed.

Park said that in 2008, Samsung officially invested in Vietnam’s Bac Ninh province, and in 2012, it expanded operations and built a factory in Thai Nguyen province. It also built a household appliance factory in Ho Chi Minh city.

He emphasised that Vietnam is an important partner and the largest production "base" in the world of the Samsung Group. Even during the COVID-19 pandemic, its factories in Vietnam still maintained stable operations, providing jobs for more than 110,000 local workers.

In 2022, despite uncertainties in the world situation, thanks to the support of the Government of Vietnam, the group still met its revenue growth target, Park said, noting that Samsung Group hopes the Vietnamese Government will continue to accompany and help it to further develop.

He said he believes that Samsung's subsidiaries and other global businesses will continue to expand their investments in Vietnam./.
VNA
#Vietnam Plus #Vietnam News Agency #Samsung #FDI #Finance Ministry #Ho Duc Phoc Korea (RoK)
Follow VietnamPlus

Related News

Vietnam attracts 27.72 billion USD in FDI this year

Vietnam attracts 27.72 billion USD in FDI this year

Vietnam attracted a total of 27.72 billion USD in foreign direct investment (FDI) as of December 20, equal to 89% of the figure of the same period last year, according to the Ministry of Planning and Investment.
Real estate absorbs over 4.4 billion USD in FDI

Real estate absorbs over 4.4 billion USD in FDI

Foreign direct investment (FDI) in real estate topped 4.4 billion USD as of December 20, accounting for over 16% of the total FDI capital registered in Vietnam, and up 1.8 billion USD year-on-year.
FDI disbursement highest in past five years

FDI disbursement highest in past five years

Disbursement of foreign direct investment (FDI) in Vietnam in 2022 is estimated at nearly 22.4 billion USD, up 13.5% year-on-year, making it the highest amount in the past five years, the General Statistics Office (GSO) announced on December 29.
High-quality human resources to help Vietnam draw more FDI

High-quality human resources to help Vietnam draw more FDI

To attract more foreign direct investment (FDI), Vietnam needs to pay attention to training high-quality human resources, accelerating administrate reform and developing and upgrading infrastructure, according to the European Chamber of Commerce (EuroCham).

See more

Workers process agricultural products for export. (Photo: VNA)

Vietnam's small business growth soars to a four-year high

The survey findings released in Ho Chi Minh City on March 21 show that the growth momentum is expected to accelerate in 2025, with 92% of small businesses expecting to grow, the highest projection among 11 markets surveyed.

At the meeting between French Minister of Transport Philippe Tabarot and Vietnamese Minister of Construction Tran Hong Minh in Hanoi on March 21. (Photo: VNA)

French businesses show strong interest in Vietnam’s high-speed railway project: Minister

Minh also mentioned Vietnam’s ongoing construction of Long Thanh International Airport, which will have a total capacity of 100 million passengers per year upon completion. The airport is expected to become Vietnam’s largest and serve as an international gateway, offering new opportunities for global aviation businesses, including those from France, to expand their connections in Vietnam and ASEAN, he said.

The ground-breaking ceremony for the Hon La International Port on March 21 (Photo: VNA)

Quang Binh breaks ground on 90-million-USD international port

The port features comprehensive planning with modern warehouses, logistics areas, and technical facilities. Its strategic location in the sheltered Hon La bay, protected by Hon Co and Hon La islands, provides ideal natural depth for large vessels.

SMEs face many difficulties in accessing capital. (Photo: baokiemtoan.vn)

SMEs need support policies: insiders

With nearly one million businesses and around five million business households, the private sector contributes approximately 51% of the country's Gross Domestic Product (GDP) and over 30% to the State budget. However, most small and medium-sized enterprises (SMEs) face significant barriers in scaling up and enhancing their competitiveness.

Quang Ninh plans to develop four new industrial parks (Photo: VNA)

Quang Ninh to develop four new industrial parks

To attract investment for infrastructure development in these zones, the Quang Ninh provincial People's Committee is focusing on reviewing available land and making a list of projects to attract investors for technical infrastructure construction.

A Vietjet executive performs the ribbon-cutting ceremony for the Ho Chi Minh City - Bengaluru route launch. (Photo: baodautu.vn)

Vietnam’s leading airlines to open new routes to India

Vietnam's national flag carrier Vietnam Airlines plans to launch direct flights from Hanoi to Bengaluru and Hyderabad starting in May, while private carrier Vietjet has already commenced services connecting Ho Chi Minh City to these two major Indian hubs on March 18.

Inside a steel factory in northern Vietnam. Despite signs of recovery, the industry remains below 2021 production levels (Photo: VNA)

Steel sector faces challenges

Vietnam’s steel sector is grappling with mounting challenges, including a rising volume of Chinese steel exports, domestic oversupply and global trade barriers, experts warn.