Samsung helping local businesses join supply chains
Mr. Choi Joo Ho, General Director of Samsung Vietnam, addressed the opening ceremony of the 4th VIMEXPO 2023 on November 15.
Samsung will create the necessary conditions for Vietnamese businesses to participate in supply chains, Mr. Choi Joo Ho, General Director of Samsung Vietnam, told the opening ceremony of the International Exhibition on Supporting Industries and Processing, Manufacturing Vietnam (VIMEXPO 2023) on November 15
The VIMEXPO exhibition was organized within the framework of the Supporting Industry Development Program, aiming to implement Resolution No. 115/NQ-CP from the government on solutions to promote supporting industries.
“Samsung will create conditions and prioritize opportunities for Vietnamese companies with competitive capabilities and fundamental training to participate in the supply chain,” said Mr. Choi Joo Ho, who represented more than 200 companies at the exhibition.
Since making significant investments in Vietnam, he went on, Samsung has closely cooperated with the Ministry of Industry and Trade and made efforts to develop Vietnam’s supporting industries.
Since 2015, experts from Samsung’s parent company have been sent to Vietnam to advise on improving production and quality for around 400 Vietnamese businesses. At the same time, it has supported the training of 207 Vietnamese consultants. “These consultants travel across Vietnam to advise other companies, and they are achieving excellent results,” he said.
The training program for experts in the field of molds - a key area of national industry - is also being effectively implemented. In addition, the program providing advice on building smart factories to develop high-tech, high value-added industries has been supported by Samsung since 2022.
Speaking about Samsung’s future plans, he said that based on its business philosophy of “Prosperity together”, Samsung will continue to strengthen cooperation with the Vietnamese Government and relevant agencies, continuing with activities to develop Vietnam’s supporting industries.
Samsung has made positive contributions to Vietnam’s supporting industries. Through efforts to find supply chain businesses, the number of its Tier 1 and Tier 2 suppliers, which are Vietnamese businesses in Samsung’s global supply chain, has increased ten-fold, from 25 in 2014 to 257 by the end of 2022. Samsung is currently the largest investor in Vietnam, with total investment increasing nearly 30-fold over 15 years, to around $20 billion as of the end of 2022. It has six factories, one research and development center, and one sales entity in the country.
