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Samsung plans to invest US$1 billion annually in Vietnam

By Truc Dao

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HCMC – South Korean conglomerate Samsung has plans to invest an additional US$1 billion annually in Vietnam, according to the Vietnam News Agency.

The plan was announced by Choi Joo Ho, general director of Samsung Vietnam, during his meeting with Deputy Prime Minister Tran Luu Quang on March 4.

In 2023, Samsung invested an additional US$1.2 billion in Vietnam, bringing the total so far to US$22.4 billion. The company aims to sustain this level of investment, pledging to invest an annual US$1 billion into the Vietnamese economy.

Samsung also expressed interest in expanding collaboration with the Vietnam National Innovation Center (NIC) and supporting the country in semiconductor workforce development.

Deputy PM Tran Luu Quang said that Vietnam commits to improving the investment environment to create favorable conditions for foreign businesses to operate in the country.

Samsung Vietnam and NIC have signed a memorandum of understanding to cooperate in high-tech development initiatives in Vietnam. Samsung has also partnered with the Vietnam National University of Hanoi to train students in the semiconductor industry.

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