Vietnam’s Finance Ministry will continue to create favorable conditions for foreign direct investment (FDI) companies to operate effectively and sustainably in the country, Finance Minister Ho Duc Phoc said on January 10 when meeting Samsung Electronics President and Chief Financial Officer Park Hark-kyu.
At the meeting, Phoc said that Samsung Electronics is the biggest investor of the Republic of Korea (RoK) in Vietnam, which has greatly contributed to the country’s export revenue, job creation, and the state budget.
The ministry will continue to accompany the company, solve difficulties and create favorable conditions for its projects in Vietnam, the minister affirmed.
Park said that in 2008, Samsung officially invested in Vietnam’s Bac Ninh province, and in 2012, it expanded operations and built a factory in Thai Nguyen province. It also built a household appliance factory in Ho Chi Minh city.
He emphasised that Vietnam is an important partner and the largest production "base" in the world of the Samsung Group. Even during the COVID-19 pandemic, its factories in Vietnam still maintained stable operations, providing jobs for more than 110,000 local workers.
In 2022, despite uncertainties in the world situation, thanks to the support of the Government of Vietnam, the group still met its revenue growth target, Park said, noting that Samsung Group hopes the Vietnamese Government will continue to accompany and help it to further develop.
He said he believes that Samsung's subsidiaries and other global businesses will continue to expand their investments in Vietnam.