National Assembly Chairman Tran Thanh Man receives leader of Samsung Vietnam Complex

NA Chairman Tran Thanh Man and General Director of Samsung Vietnam Complex Choi Joo Ho take a photo with delegates.

Bac Ninh leaders attending the meeting were Mr. Nguyen Anh Tuan, Member of the Party Central Committee, Secretary of the Provincial Party Committee and Head of the Provincial Delegation of National Assembly Deputies; Mr. Le Xuan Loi, Vice Chairman of the Provincial People's Committee.

The NA Chairman highly appreciated the efforts, determination and achievements of Samsung Group in doing business in Vietnam in recent years.

Although business results in the first 11 months of 2024 (revenue of over USD 58 billion and exports of about USD 50.8 billion) decreased slightly compared to 2023 due to difficulties in supply sources and fluctuations in the world economy, it has contributed positively to Vietnam's import-export turnover and the overall economic development of the country.

In addition, Samsung Group has accompanied, coordinated and shared information and experiences of other countries in building preferential policies and investment support.

Overview of the meeting.

The NA Chairman remarked that after more than three decades of diplomatic relations, particularly with the upgrade to Comprehensive Strategic Partnership in 2022, Vietnam-Korea relations are at their peak in history. For many years, Korea has maintained its number one position in direct investment in Vietnam (accumulated to November 30, 2024, reaching USD 89.11 billion).

For his part, General Director of Samsung Vietnam Complex Choi Joo Ho, stated that the Samsung Group (Korea) has invested in Vietnam since 2008. Export turnover in 2023 was USD 55.7 billion, accounting for 16% of Vietnam's total export turnover, and is predicted to remain at this level in 2024, despite the challenging global economic environment.

Regarding Samsung Vietnam's production and business activities, General Director of Samsung Vietnam Complex Choi Joo Ho stated that during Prime Minister Pham Minh Chinh's official visit to Samsung Korea in July 2024, the Chairman of Samsung Group reported on the expansion of investment and new project investment in Vietnam. As a result, Samsung has opted to invest in developing the world's largest display screen production facility in Bac Ninh.

Appreciating the National Assembly Standing Committee's comments on the draft Decree on the establishment, management and use of the Investment Support Fund, the General Director of Samsung Vietnam hopes that the Government will soon issue this Decree.

NA Chairman Tran Thanh Man talks with leaders of Bac Ninh province.

In the coming time, the NA Chairman proposed that Samsung Group support Vietnam in improving the capacity of domestic enterprises so that they can participate in the Group's supply chain.

The NA Chairman hoped that the Group would become a strategic investor, making the largest contribution to Vietnam's economy, developing supporting industries, chips and semiconductors, and promoting innovation in Vietnam.

NA Chairman Tran Thanh Man affirmed that the Party, State, National Assembly and Government of Vietnam always support and are ready to create a favorable legal corridor for investment, production and business activities of the domestic and foreign business community, including Korean enterprises and Samsung Group.