Thai Nguyen (VNA) –𒈔 The Samsung Group’seffective operations have made important contributions to Vietnam’s electronicindustry and trade relations, Deputy Prime Minister Le Minh Khai said at aceremony on April 20 marking the 10th founding anniversary of the Samsung Electronics VietnamThai Nguyen Co. Ltd. and receiving a third-class Labour Order.

Khai hailed Samsung asthe biggest Korean investor and the biggest foreign investor in Vietnam with total registered capital of nearly 20 billion USD. So far, its capital inprojects in Thai Nguyen province has neared 7.5 billion USD, or about 73% of the totalforeign direct investment in the province, he said. Throughoutits 10-year journey of operating in Vietnam, Samsung Vietnam Thai Nguyen has always been a leading manufacturer of mobile devicesunder the brand Samsung "made in Vietnam". It is also a unit with thelargest revenue and contribution to the export turnover of the Samsung Group inVietnam. Last year, the company raked in 28.3 billion USD in revenue and 27.3billion USD in export earnings, equivalent to 38.3% and 42.1% of the Samsung Group's total, respectively. TheVietnamese Party, State and Government always create favourable conditions toattract domestic and foreign investors in the principle of “harmonisinginterests and sharing risks", accompany and ensure the legitimate rightsand interests of investors, businesses and relevant partners, Khai said.

Hesuggested that the Samsung Group should continue expanding operations and considerVietnam an important strategic global location for its overall growth,not only in terms of production but also in research and development of keyproducts for export to the world, with the aim of becoming a talent nurturing centre in Vietnam, inventing and adopting the world's most advanced technologies.

ꦏ The leader urged preparing necessary conditions for early trial production of semiconductor chip grid products,toward mass production from July 2023 at the Samsung plant in Thai Nguyen.It will be a good start for its closed-looped "production chain" inthe electrical and electronic industries in Vietnam, he said.

On the occasion, the Deputy PM also asked the company to makeit easier for domestic firms to join in its supply chain more deeply. Taking note of the Samsung Group’ssuggestions regarding the global minimum corporate income tax starting from 2024,Khai said theVietnamese Government vows to continue accompanying and promptly tacklingobstacles faced by foreign investors, including Samsung, to do businesseffectively and grow sustainably in Vietnam.

General Director ofSamsung Vietnam Choi Joo Ho said that thanks to comprehensive support of the Vietnamese Governmentand the provincial authorities, the unity of staff and suppliers, Samsung hasovercome all obstacles and built the factory like today.

💜 Reiterating many Vietnameseleaders’ statement that "Samsung's success is Vietnam's own", Choisaid Samsung will make every effort to become a business that goes hand in handwith Vietnam and a national enterprise that receives sentiments of the Vietnamesepeople.

He also expressed his hope for joint efforts to overcome allchallenges on the path of the next decade and the future ahead./.