Samsung is committed to raise investment in Vietnam

Samsung reiterated its commitment to raising investment in Vietnam. The company’s Chief Financial Officer recently met the Prime Minister of the country, ensuring him towards investment plans.

According to reports, Samsung pledged to boost its annual investment in Vietnam by $1 billion. This announcement showcases the company further strengthening ties with Vietnam responsible for half of its smartphone output.

Since Vietnam plays a pivotal role in the operations of Samsung, the official expressed hopes that the country’s business environment would continue to improve. Chinh also requested Park to help local firms enter Samsung’s supply chain.

In return, the Vietnamese PM confirmed to help Samsung do business in the country. The country is reportedly considering reforms to its business environment, administrative process, and regulations important.

Park said during the meeting that Samsung Electronics has already invested $22.4 billion in Vietnam so far and incorporated a total of 309 Vietnamese companies into its supply chain, a more than 12-fold increase from 2014.

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