Samsung Electronics increased its investment in Vietnam by $1.2 billion in 2023, bringing its total investment capital to $22.4 billion.
The group plans to further invest an additional $1 billion annually in the country. This was disclosed by Choi Joo Ho, the general director of Samsung Vietnam, during a meeting with Deputy Prime Minister Tran Luu Quang on March 4.
Ho highlighted that 2023 presented challenges due to global economic hardships and a shrinking mobile phone market. Despite these obstacles, Samsung Vietnam achieved an export turnover of $55.7 billion.
The Samsung R&D Centre currently employs 2,400 engineers, with Vietnamese engineers playing a crucial role in researching AI features for the new Galaxy S24 phone series, highly valued by Samsung for their expertise.
Expressing gratitude, Ho hoped that the Vietnamese government would continue to enhance the investment environment and facilitate Samsung’s investment activities in Vietnam.
During the meeting, DPM Quang suggested continued cooperation between Samsung and the National Innovation Centre (NIC) to support Vietnam’s goal of training 50,000 semiconductor industry engineers by 2030.
Last year, Samsung Vietnam and the NIC signed an MoU to collaborate on high-tech development initiatives for Vietnam’s youth.
Additionally, Samsung and the National University of Hanoi inked a cooperation agreement to train approximately 40 outstanding students of the university to become future leaders in the semiconductor field within four years.