Samsung Outlooks Vietnam as Global Manufacturing Hub

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Samsung Electronics – sees Vietnam as a global manufacturing hub and intends to house its Research and Development (R & D) center in the country.

On April 13, 2023, in a conference with the prime minister of Vietnam, Pham Minh Chinh, on April 13, 2023, in Hanoi, Mr. Park Hark Kyu, head of the corporate management office at Samsung Electronics’ DX division, stated that the company would make it feasible for Vietnamese nationals to work at Samsung Vietnam. The R&D center employs approximately 2,000 Vietnamese engineers.

Samsung constructed a $ 220 million research and development (R & D) center in Hanoi last year, and the business achieved excellent results, with profits reaching $4.6 billion.

According to VnEconomy, last year, the electronics giant made an investment of $18 billion in Vietnam and plans to increase it to $20 billion.

As evidence of its efficient operation since 2008, the South Korean conglomerate’s aforementioned research and development facility in Vietnam is the largest one in Southeast Asia.

Foreign investors contributed to the expansion of Vietnam’s economy. The Prime Minister stated that he will continue to assist international investors in identifying suitable approaches to their difficulties.

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