Prime Minister suggests Samsung Vietnam have Vietnamese people in its leadership

Prime Minister Pham Minh Chinh has suggested Samsung support Vietnam in building a technology ecosystem, especially in the field of chip and electronics manufacturing, and include Vietnamese people in the leadership of Samsung Vietnam.

Chinh made the statement at a meeting with Roh Tae Moon, acting head of Samsung Electronics's consumer and smartphone business, at the government headquarters on Tuesday.

The cabinet leader also asked Samsung to support Vietnam in digital transformation, IT infrastructure development, and training high-quality human resources, and increase the localization rates and technology transfer to Vietnam.

The Prime Minister suggested the Korean chaebol to become a reliable partner of Vietnam in the journey of technological and economic development towards the goal of mutual development and prosperity, and continue to expand investment in the country, especially in the fields of high technology and R&D.

In response, Roh Tae Moon said Samsung Vietnam is committed to always accompanying the Vietnamese Government and making continuous efforts to contribute to the national socio-economic development.

The executive said that since 2015, Samsung has implemented many programs to develop Vietnam's supporting industry. In particular, since the beginning of this year, Samsung Vietnam has cooperated with Samsung Group to establish a rapid response team to build a systematic sourcing process, expanding sourcing activities.

After finding potential suppliers, Samsung will focus on providing them smart factory consultancy to not only improve their competitiveness but also train their manufacturing experts.

Samsung had invested a total of $23.2 billion in Vietnam and employed 90,000 Vietnamese people as of end-2024, according to Roh Tae Moon.

By end-June 2025, Samsung's mobile phone factories in Bac Ninh and Thai Nguyen provinces had reached the milestone of producing 2 billion mobile phones, after 16 years of production.

The giant's Vietnam revenue in H1/2025 hit $31.8 billion and export $28 billion, accounting for 12.7% of Vietnam's export turnover in the period. This ratio decreased compared to the 13.4% recorded at end-2024.

In addition to Samsung Electronics, other Samsung entities such as Samsung Display and Samsung Electromechanics have expanded their investment in Vietnam or will do so, said Roh Tae Moon.

Four major factories of Samsung Electronics in Vietnam posted a total profit of KRW1.71 trillion ($1.24 billion) in the second quarter of 2025, up 25.8% year-on-year.

This is a significant turnaround from the 39% decrease to KRW966 billion ($689.4 million) in Q1 profit, according to the South Korean conglomerate’s Q2 consolidated earnings statements.

Total revenue from the four factories ticked up 2.6% year-on-year to KRW20.55 trillion ($14.88 billion) in April-June and rose 3.2% to KRW43.37 trillion ($31.4 billion) in the first half of 2025.