Samsung should continue pioneering role in Vietnam’s green transition: Deputy PM

South Korean tech giant Samsung should continue its pioneering role in Vietnam’s transition to a digital and green economy, said Deputy Prime Minister Tran Hong Ha while hosting general director of Samsung Vietnam Choi Joo Ho in Hanoi on Monday.

“Vietnam will accompany and encourage businesses to step up green transition and reduce carbon footprints through developing regulations on emission limits, carbon credit market, carbon tax, green finance and land incentives,” Ha noted.

He suggested foreign firms, including Samsung Vietnam, to propose the Vietnamese government measures to remove bottlenecks in the execution of the Direct Power Purchase Agreement (DPPA) rules, with a view to operating the electricity market in line with the market mechanism.

Samsung Vietnam was also asked to continue landing investments in its research and development (R&D) center and promoting technology transfer in emerging industries like semiconductors.

For his part, Choi spoke highly of the Vietnamese government’s issuance of Decree No. 80 featuring the DPPA mechanism between renewable energy generators and large customers.

He said his firm hopes for more favourable conditions to increase the use of renewable power at rational costs, contributing to the country’s commitment to cutting emissions to net zero by 2050.

Briefing the host on his company’s business operation, Choi said Samsung Vietnam owns six production facilities and one R&D center with total investment of $22.8 billion. It shipped $33.5 billion worth of products abroad during January-July, up 5% year-on-year.