Deputy PM encourages Samsung Vietnam to continue investment in R&D centers

Deputy Prime Minister Tran Hong Ha proposed Samsung Vietnam to continue investments in research and development (R&D) centers and promoting technology transfer in emerging industry such as semiconductors during a reception for its General Director Choi Joo Ho in Hanoi on August 12, the Government News has reported.

Vietnam will accompany and encourage businesses to promote green transition and reduce carbon emissions with regulations on emission limits, carbon credit market, carbon tax, green finance and incentives for land use fee, the Deputy PM said.

He suggested foreign firms, including Samsung Vietnam, to propose the Government measures to remove bottlenecks while carrying out the Direct Power Purchase Agreement (DPPA) with a view to operate the electricity market in line with the market mechanism.

Mr. Choi spoke highly of the Government’s issuance of the DPPA and said Samsung Vietnam wants to increase of the use of renewable energy in production, contributing to achieving Vietnam’s commitment to net zero emissions by 2050.

Samsung Vietnam currently owns six production facilities and a R&D center with total investment of $22.8 billion. It registered export revenue of $33.5 billion in the first seven months of the year, soaring 5% compared to the same period of 2023.