An assemly line of Samsung Electronics Vietnam in northern Bac Ninh Province (Photo:VNA) Hanoi (VNA) - Samsung Vietnam’s turnoverin 2016 touched 46.3 billion USD, while its exports reached 39.9 billion USD,rising 9.9 percent compared to 2015, despite the Galaxy Note 7 recall.
Hyun WooBang, deputy general director of Samsung Vietnam, said the company had overcomeits difficulties because of the Note 7 washout, thanks to support from theVietnamese government and concerned agencies.
Vietnam’stotal export turnover in 2016 is estimated at 175.9 billion USD, posting an 8.6percent year-on-year increase, according to data from the General StatisticsOffice. Samsung accounted for 22.7 percent of the country’s total exportturnover last year; in 2015, it was 20 percent.
Thecombined export turnover of Samsung Electronics Vietnam (SEV) in Bac Ninh Provinceand Samsung Electronics Vietnam-Thai Nguyen (SEVT) in Thai Nguyen Province was 36.2billion USD. The Note 7 disaster’s impact was insignificant and short-term onSamsung Vietnam’s business and export turnover in 2016, Hyun said.
Thelocalisation rate of spare parts in 2016 touched 51 percent from 2015’s 35 percent,Hyun said. Samsung used 18,000 robots at its factories to produce spare parts.The 3D display screen and key spare parts are produced in Vietnam and exportedto the Republic of Korea and the rest of the world.
Hyun saidSamsung committed to invest 14.8 billion USD in Vietnam, and so far it hadinvested 10.1 billion USD. It employed 140,000 labourers in its factories inVietnam, of whom only 190 are specialists from the Republic of Korea.
The deputygeneral director proposed that the Vietnamese government implement policies tohelp FDI companies improve their competitiveness worldwide, and asked forbetter taxation and non-tax transactions.
Thecompany also asked for a mechanism to allow their employees to work extra hoursand limit rapid salary increases to ensure competitiveness of FDI firms as wellas attractiveness of Vietnam’s labour market.
Earlier,Samsung Electronics announced a 50 percent surge in turnover to 7.8 billion USDin the last quarter of 2016, courtesy the high sales of semi-conductors andscreens.-VNA
