Secretary Nguyen Anh Tuan visits and works with Samsung Group (Korea)

Secretary Nguyen Anh Tuan presents Dong Ho Folk Painting to Mr. Hark Kyu Park.

Mr. Hark Kyu Park, President of Samsung Electronics (Korea) and Mr. Lee Byeongkuk, Director of Global Manufacturing Hub of Samsung Group received and worked with the delegation.

This is the first time the Secretary has been visited the headquarters of Samsung Group. At the same time, Tuan briefed on Bac Ninh province’s socio-economic development with many indicators among the top in the country. Among 39 countries and territories investing in the province, Korea has the largest FDI in Bac Ninh with a total capital of USD 14.5 billion, accounting for nearly 60% of total foreign investment capital in the province, of which the majority is from Samsung and its satellite enterprises.

Bac Ninh provincial delegation takes a photo with Samsung Group.

Tuan highlighted that Bac Ninh province considers Samsung not only as an investor and an enterprise but also a citizen of the province. Samsung Electronics’ first factory with an investment of USD 670 million was built in Yen Phong Industrial Park. Currently, Samsung becomes the No.1 investor in Bac Ninh province, accounting for 65% of the province’s growth scale, thereby, making a significant contribution to the local socio-economic development.

The Secretary hoped that the relationship between Samsung and Bac Ninh province would develop and become better in the upcoming time, especially when two countries upgrade to a “Comprehensive strategic partnership”. At the same time, he wished Samsung Group would continue to sympathize with and share the issues of global minimum tax; consider expanding investment, reshaping production and changing the production environment in Vietnam in general and Bac Ninh in particular towards green transformation and smart production. The Group would also support and direct Samsung Vietnam to cooperate with the Ministry of Trade and Industry and Bac Ninh province to evaluate, consult, and support enterprises, Tuan added.

Overview of the working session.

Welcoming the delegation to visit and work at Samsung, Mr. Hark Kyu Park congratulated Bac Ninh province’s achievements in socio-economic development. He also said that Samsung has now more than 2,100 global partners with 2022 sales of about USD 234 billion, among which, Samsung Electronics solely has 4 business legal entities and 6 research centers.

Samsung Group expected that Vietnamese National Assembly and Government would review, soon have a resolution to the issues of global minimum tax and have incentives for manufactured products in Vietnam as well as supplement corporate tax reduction in Bac Ninh in the coming time.