PM backs Samsung group’s expansion in Vietnam
PM Nguyen Xuan Phuc said he supports Samsung’s expansion of investment in Vietnam to other fields besides electronics, suggesting such industries as energy, sea port, health care and infrastructure.
Prime Minister Nguyen Xuan Phuc (R) and Samsung group’s President and CEO Shin Jong Kyun (Photo: VNA)Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc has said he supports Samsung group’s further expansion of investment in Vietnam to other fields besides electronics, suggesting such industries as energy, sea port, health care, infrastructure and science-technology.
During a reception for Samsung group’s President and CEO Shin Jong Kyun in Hanoi on May 4, the PM noted that Samsung is the biggest single foreign investor in Vietnam with six projects valued at 14.86 billion USD. The group’s projects have contributed significantly to Vietnam’s import-export turnover while creating jobs for more than 130,000 local workers.
He said Samsung’s substantial and long-term investments in Vietnam are evidence of the Southeast Asian country’s attractiveness to foreign investors.
“The Vietnamese government will create favourable conditions for Samsung’s investment and business activities so that the group will reap more success,” he said.
PM Phuc took the occasion to ask Samsung group to assist with training and technology transfer to Vietnamese enterprises operating in the support industry, thus giving chances to those enterprises, particularly small- and medium-sized ones to become suppliers of materials and parts for the group’s projects.
Shin Jong Kyun informed his host of the group’s business outcomes in Vietnam, with good pace of capital disbursement of its projects in the northern provinces of Bac Ninh and Thai Nguyen.
Samsung will seriously abide to Vietnam’s laws on investment, business and social security for labourers, he said.-VNA
You should also see
HCM City moves towards Net Zero
Ho Chi Minh City is building a project to restructure its industry towards sustainable development in the 2025-2030 period, with a vision to 2050, prioritising the use of high technology and reducing emissions towards net zero emissions by 2050.
See more
Business
Japan's Takashimaya plans to expand investment in Vietnam
Takashimaya, a Japanese operator of upscale department stores, plans to open a shopping centre in Hanoi in 2026 that will be the company's first new location abroad in eight years, Japanese newspaper Nikkei reported.
Business
Noi Bai, Da Nang named in world’s top 100 airports
Hanoi capital’s Noi Bai International Airport and the Da Nang International Airport in the central city of the same name have been listed among the world’s top 100 airports in 2024 by the UK–based aviation consultancy Skytrax.
Business
Vietnam earns 1.43 billion USD from rice exports in Q1
ietnam in the first quarter of 2024 exported 2.18 million tonnes of rice, earning 1.43 billion USD, an increase of 17.6% in volume and 45.5% in value year on year. Meanwhile, the average export rice price also increased by 23.6% to $653.9 per tonne.
Business
Old loans must endure higher interest rates temporarily: central bank
The average lending interest rate for new loans by commercial banks is reported at around 6.4% per year, a decrease of 0.7 percentage point per year compared to the end of last year. However, borrowers with loans issued before the latest rate adjustment still must pay higher rates, according to the State Bank of Vietnam (SBV).
Business
Vietnam among top domestic infrastructure investors: Ambassador
Vietnam is one of the leading countries in Asia in terms of investment for infrastructure development, allocating 5.7% of its Gross Domestic Product (GDP) to projects in this field, said Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the United Nations (UN).
