Vietnam PM urges Samsung to invest in thriving semiconductor sector
Samsung should maintain its position as the biggest foreign investor in Vietnam, and bolster its investment in supporting industries, semiconductors, innovation, and digitalization, said Prime Minister Pham Minh Chinh.
Chinh made the suggestion at a Wednesday meeting with Choi Joo Ho, the departing CEO of Samsung Vietnam, and his successor, Na Ki Hong. He also asked Samsung to collaborate with Vietnamese ministries and agencies to open training centers, support startups, and expand its research & development (R&D) center.
Samsung Vietnam's departing CEO Choi Joo Ho (left) and Vietnamese Prime Minister Pham Minh Chinh at a meeting in Hanoi on February 12, 2025. Photo courtesy of the government's news portal.
PM Chinh also called on Samsung to accompany Vietnam in the next era of pacey growth, with a target of economic growth at 8% for 2025 and above 10% afterward.
Vietnam will improve its investment environment to facilitate business activities, he added.
The Prime Minister urged Samsung to help Vietnam more by empowering domestic businesses to further participate in the South Korean chaebol’s global chain or become Samsung partners.
For his part, Choi Joo Ho expressed his appreciation for the Vietnamese government in facilitating Samsung’s operations and investments. Choi Joo Ho and Na Ki Hong affirmed that Samsung would expand its investments in Vietnam, in both traditional and new sectors, and proposed that the Vietnamese government continue supporting its activities.
Samsung has invested $23.2 billion in Vietnam, making it the largest foreign investor in the country. In 2024, Samsung Vietnam earned a revenue of $62.5 billion, including an export income of $54.4 billion. The number of Vietnamese vendors in Samsung Vietnam ecosystem has reached 306.
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