Da Nang invites Samsung’s investment

Wednesday, 13/09/2023 14:19
On September 12, Secretary of the Da Nang City Party Committee Nguyen Van Quang received General Director of Samsung Vietnam Complex Cho Joo Ho on a working visit to the city.
Da Nang City Party Secretary Nguyen Van Quang (R) presents a souvenir to General Director of Samsung Vietnam Complex Cho Joo Ho. (Photo: baodanang.vn)

During the meeting, Mr. Quang highly appreciated the investment cooperation between Samsung Group, the Ministry of Industry and Trade, and Da Nang city, through the signing of a Memorandum of Understanding on Cooperation in implementing the Smart Factory Development Project for Vietnamese businesses in Da Nang and the Central region.

The Vietnamese Government and localities highly appreciate Samsung Group's investment in Vietnam, and Da Nang is one of the localities with many favorable conditions in terms of transportation infrastructure and preferential policies for Samsung to invest.

He also shared with General Director Cho Joo Ho that after the COVID-19 pandemic, Da Nang had a very fast recovery, especially in the tourism sector, in which the Korean tourist market accounts for a large proportion.

Da Nang is also a locality that attracts many foreign businesses to learn about investing, including in industry and real estate.

One of the three areas that Da Nang prioritizes calling for investment is high-tech industry. The city has also prioritized support policies for these priority areas.

According to Mr. Quang, Samsung's development orientation in Vietnam has similarities with Da Nang city.

Mr. Choi Joo Hoo noted that Samsung Group currently has 6 factories in Vietnam specializing in the production of electronic products, smart electronic devices, household appliances, research, development and technology transfer, with a total investment capital of about USD20 billion.

So far, Samsung Vietnam has exported products to more than 128 countries and territories with an annual output of 160 million devices, accounting for 50% of total global production. Export turnover in 2022 reached USD65 billion, accounting for 17.4% of Vietnam's export turnover, thus creating jobs for more than 96,000 workers, and contributing more than VND10,000 billion to the State budget annually.

Currently, 51 Vietnamese enterprises have become suppliers of Samsung, including many businesses in the city.

Mr. Choi Joo Hoo shared the successes the city achieved after COVID-19, especially in the field of tourism.

Through supporting industry development activities, Samsung will indirectly accompany the city and businesses of Da Nang to develop in the future./.

Compiled by BTA