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Samsung devises measures boosting Vietnam’s electronics industry

Samsung will research concrete measures to help develop Vietnam’s electronics industry, General Director of Samsung Electronics Vietnam Han Myoung-sup said at a seminar in Hanoi on July 15.
Samsung will research concrete measures to help develop Vietnam’selectronics industry, General Director of Samsung Electronics VietnamHan Myoung-sup said at a seminar in Hanoi on July 15.

He also underlined contributions by Samsung Electronics Vietnam toattract foreign investments in component manufacturing. It also helpedthe Southeast Asian country improve its export indexes and create anumber of jobs.

To develop supporting industries,the country needs to provide capital and policy assistance and ensurethe sale of the sector’s products, the executive said while asking forhigh resolve and long-term vision from businesses.

Deputy Minister of Industry and Trade Tran Tuan Anh admitted that thougha number of favourable mechanisms and policies have been designed, theyhave not been implemented strongly enough to support Vietnamese firmsin making qualified supporting industry products.

His ministry has submitted a decree on supporting industry developmentto the Government for approval. The decree includes feasible andcomprehensive mechanisms and policies in accordance with Vietnam’scurrent regional and international economic integration, he noted.

At the seminar, Samsung Vietnam announced a list of components itwants to source from Vietnamese companies and met face-to-face withlocal firms to to discuss the possibility of becoming Samsung componentproviders.

The function drew representatives frommore than 200 Vietnamese enterprises and from Government agencies suchas the Ministry of Finance and the Ministry of Planning and Investment.

Samsung first invested in Vietnam in 1995 but madeitself known in recent years with its construction of two hi-techcomplexes to produce mobile devices and components in Bac Ninh and ThaiNguyen provinces with a combined investment of 7.5 billion USD.

Thetwo facilities together exported over 26.25 billion USD worth ofproducts last year and created jobs for over 100,000 labourers.

Last May, Samsung began construction on the Samsung ConsumerElectronics Ho Chi Minh City Complex, covering 70 hectares at the Ho ChiMinh City Hi-tech Park with a total investment of 1.4 billion USD.-VNA
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