Vietnam-Samsung Partnership: A Mutually Beneficial Relationship
Minister Nguyen Van Thang welcomes Mr. Na Ki Hong, the new General Director of Samsung Vietnam
On May 20th, Minister Nguyen Van Thang of the Ministry of Finance met with Mr. Na Ki Hong, the newly appointed General Director of Samsung Vietnam. The meeting aimed to discuss the company’s future plans and strengthen the partnership between Samsung and Vietnam.
Minister Nguyen extended his congratulations to Mr. Na on his new role and expressed his confidence in Samsung’s continued success under his leadership. He highlighted the importance of Samsung’s investment in Vietnam, noting that the company is the largest foreign investor in the country, employing approximately 100,000 Vietnamese workers and contributing significantly to the country’s economic progress.
Samsung’s presence in Vietnam has been instrumental in the country’s economic development.
Korea has always been a crucial partner for Vietnam, and this relationship is reflected in the country’s investment and ODA contributions. During the meeting, Minister Nguyen shared insights into Vietnam’s macroeconomic landscape, highlighting the country’s impressive growth despite challenges. He emphasized the government’s commitment to fostering growth while maintaining macroeconomic stability, controlling inflation, and ensuring economic balance.
Mr. Na expressed his gratitude for the warm reception and acknowledged the supportive business environment fostered by the Vietnamese government. He appreciated the efforts of the Ministry of Finance and other relevant ministries in creating a conducive investment climate for foreign companies like Samsung.
The discussion also covered topics such as additional incentives for Samsung’s projects in Bac Ninh, Thai Nguyen, and Ho Chi Minh City, VAT refund issues, and policies to support businesses in Vietnam. Minister Nguyen assured that the government does not discriminate between domestic and foreign investors and is committed to providing a stable and efficient business environment.
He also highlighted the annual dialogue between the Ministry of Finance and the Korean Embassy, which addresses tax and customs issues faced by Korean businesses in Vietnam. Additionally, the Minister discussed the recently established Investment Support Fund, which aims to support eligible corporations and enterprises.
As Vietnam navigates through economic challenges, the Ministry of Finance is working on two decrees related to tax and land rent payment extensions for 2025. The Ministry remains committed to addressing concerns and creating a favorable environment for investors like Samsung, who have played a pivotal role in the country’s economic journey.
Samsung’s presence in Vietnam continues to be a cornerstone of the country’s economic development, and the partnership between the two strengthens with each passing year.
Samsung’s contribution to Vietnam’s economy has been significant, with the company being the largest foreign investor in the country.
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