Samsung continues to increase investment in Vietnam

Samsung Group will add more investment to Vietnam, which is their global handset manufacturing hub, said Samsung Vietnam CEO Choi Ju-ho.

Samsung Vietnam’s total exports reached $34.3 billion in the first half of 2022, up 18% from last year.

The company is constantly increasing its investments in Vietnam. In 2022, Samsung continued to make investments, including about $1.2 billion for the Samsung Electro-Mechanics Vietnam plant in Thai Nguyen Province. By the end of 2021, Samsung’s total investment in Vietnam was $18.2 billion, and the figure is expected to exceed $21.5 billion by the end of 2022.

Samsung also plans to support Vietnamese enterprises to improve their global competitiveness in all processes such as research and manufacturing, with a focus on bringing them into Samsung’s supply chain and other global networks. When our Vietnamese suppliers become stronger, that means Samsung will become more powerful.

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In addition to demonstrating its corporate social responsibility towards the Vietnamese government, Samsung is always striving to make a significant contribution to enhancing Vietnam’s national competitiveness.

As a result of these efforts, the total number of Samsung’s Vietnamese suppliers, both Tier-1 and Tier-2, is about 250 enterprises. Among them are 52 Tier-1 suppliers. Samsung continues to work on constantly increasing the numbers.

Samsung Vietnam is implementing a national project to support the development of smart factories for about 50 domestic enterprises to increase production capacity. They are supported in the expertise and transfer of experience in the development of smart factories, thereby increasing production capacity to global Samsung standards.