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Samsung Vietnam celebrates 10th anniversary of Samsung Electronics Vietnam

Released at: 13:43, 21/04/2018

Samsung Vietnam celebrates 10th anniversary of Samsung Electronics Vietnam

Photo: Ngoc Lan

Samsung Vietnam celebrates ten-year journey of development and large-scale investment in Vietnam on April 20.

by Ngoc Lan

Samsung Vietnam celebrated the tenth anniversary of the establishment of Samsung Electronics Vietnam (SEV) on April 20, marking its ten-year journey of development and large-scale investment in Vietnam.

Attending the ceremony were Deputy Prime Minister and Minister of Foreign Affairs Pham Binh Minh and senior leaders from ministries, committees, departments, and central and local agencies.

Samsung officially received an investment certificate and began construction of the mobile phone manufacturing factory SEV in Bac Ninh in 2008. This was the first project in Samsung’s major investment plan for mobile phones in Vietnam, which played an important role in creating a solid premise for Samsung’s investment expansion in its journey towards turning Vietnam into its global manufacturing hub.

After ten years, starting with investment of $670 million in SEV, Samsung is currently the largest foreign investor in Vietnam, with total investment jumping almost 26 times to over $17.3 billion.

The full presence of Samsung in Vietnam now includes eight factories and one R&D center, in which SEV and SEVT (Thai Nguyen) are the two largest mobile factories of Samsung in the world, while SEHC (Ho Chi Minh City) is the largest household electronics factory in Southeast Asia, and SVMC is the largest Samsung R&D center in Southeast Asia.

In Samsung’s development strategy, Vietnam is a global base of both production and R&D activities.

As the co-prosperity commitment with Vietnam in the early days laid the foundation for large investment projects in Vietnam, the ten-year journey has proved that the growth of Samsung has always accompanied Vietnam’s development.

2017 was a significant year for Vietnam’s economy as well as for Samsung Vietnam. For the first time, Vietnam’s export turnover exceeded $200 billion, and Samsung Vietnam’s export turnover also made a sharp breakthrough, reaching over $54 billion and contributing more than 25 per cent to Vietnam’s export turnover.

With its achievements and development in Vietnam, within the framework of the 10th Anniversary celebrations, Samsung was honored to receive a Certificate of Merit from the government and an Emulation Flag from the Bac Ninh Provincial People’s Committee. This is major encouragement for Samsung to continue its enduring efforts in Vietnam and creates motivation and determination for Samsung’s subsequent investments and development in the future in Vietnam

Deputy Prime Minister Pham Binh Minh told the anniversary celebrations that the Vietnamese Government will continue accompanying FDI enterprises in general and South Korean enterprises, including the Samsung Group, in particular in the process of doing business in Vietnam. “On the occasion of the 10th anniversary of the establishment of Samsung Electronics Vietnam, on behalf of the Vietnamese Government, I congratulate the Group for your business results in Vietnam,” he said. “I hope that Samsung Electronics Vietnam will continue growing and making positive contributions to socioeconomic development in Bac Ninh province as well as Vietnam.”

At the 10th anniversary celebrations, Mr. Shim Won Hwan, President of Samsung Vietnam, said that in not only focusing on production, after ten years, thanks to good policies in benefiting and taking care of workers, rising from only 500 in 2008, Samsung is now a family of 170,000 employees with long-term careers. “Whatever success and glory Samsung has gained today, we’d like to give all to you, our dear employees, who have been so passionate about the company’s development”, he said.

Mr. Koh Dong Jin, President and CEO of IT & Mobile Communications and Executive Director of Samsung Electronics, believes that Samsung Vietnam will be able to respond to the IoT era with a wide range of high-tech products, including smartphones and leading future manufacturing technologies and can play an important role in the era of Industry 4.0. “Also, to help Samsung play a bigger role in Vietnam, we will continue to invest in advanced equipment and R&D,” he added, while he sincerely appreciates the full support of the Vietnamese Government and the Vietnamese people.

Samsung’s ground-breaking achievements in Vietnam also reveal the vital contribution of 170,000 employees working at its factories.

For Samsung, Vietnam is not only an attractive investment destination but is also the corporation’s second family. The first ten years and its spectacular development have created a stable foundation to allow Samsung to make ground-breaking steps in the future. It re-confirms its strong commitment to investing and thriving together for the long term in Vietnam.

Samsung Vietnam from 2008 to 2017

2008 (SEV only)

2017 (Samsung Vietnam)

Growth rate

Investment

$0.67 billion

$17.3 billion

2,580% (26 times)

Employment

500

170,000

34,000% (340 times)

Exports

$0.35 billion (2009)

$54.3 billion

15,500% (155 times)

Vietnam 1st vendors

4 (2014)

29

725% (7.25 times)

First year basic salary (OP)

$1.44 million (2009)

$5.40 million

375% (3.75 times)

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