Samsung Vietnam plans $32 billion export value in 2015

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VietNamNet Bridge – Samsung’s plan for $32 billion in export value was submitted to Prime Minister Nguyen Tan Dung by the Minister of Planning and Investment Bui Quang Vinh on Monday. Vinh said the Ministry of Planning and Investment had examined Samsung Vietnam’s exports in 2014 and confirmed the figure of $26.3 billion. For the 2015 plan, Minister Vinh said that Samsung Vietnam has had two new factories in Bac Ninh and Thai Nguyen, but its turnover has dropped because of Apple’s competition. Currently, it has passed Apple and Huawei (China) thanks to the new product - a steel-covered Galaxy. "Samsung has announced its export plan of $30 billion this year. We have checked the two factories in Thai Nguyen and Bac Ninh and saw that the Thai Nguyen factory can yield at least $16-18 billion and $18 billion for the Bac Ninh factory, so it is almost certain that Samsung Vietnam can reach $32 billion or more," Vinh said. In addition, the Minister said that … [Read more...]

Fatherland Front leader receives Samsung Vietnam directors

A mobile phone production line of Samsung Electronics company in northern Thai Nguyen province (Photo: VNA) Nguyen Thien Nhan, President of the Vietnam Fatherland Front Central Committee, received outgoing Samsung Vietnam General Director Shim Won Hwan and his successor Han Myong-sup on March 11. At the reception, Nhan highlighted Samsung’s significant contributions to Vietnam through its medium- and long-term investments and scientific research studies, particularly the recent research collaboration with three major universities in Hanoi. He asked the company to consider providing additional living space for Vietnamese workers and said the front is willing to support Samsung’s operations in the country. According to the incoming General Director Han Myong-sup, the Samsung Vietnam complex in northern Thai Nguyen province currently employs 42,000 labours. In March 2015, it plans to construct nine additional dormitories to accommodate workers, he said.-VNA … [Read more...]

Vietnam draws attention from FDI firms

Workers at Samsung Viet Nam in the northern province of Bac Ninh's Yen Phong District on an assembly line.

Several foreign direct investment (FDI) enterprises are planning to develop big projects in Viet Nam this year in view of an improved investment environment. Katsuyoshi Soma, general director of Canon Vietnam told Hai quan (Customs) newspaper that the company had achieved significant success in 2014 in Vietnam despite a slow recovery in the world market. This year, the company plans to maintain stable production and focus on renewing quality, technique and automation. It will also actively seek local suppliers in the support industry for boosting localisation and reducing inventory as well as prices. Samsung Vietnam has designed a big plan for investing in the energy, shipbuilding and airport sectors in the country this year with an expected total investment of US$20 billion. In the field of infrastructure, Samsung C&T has signed a memorandum of understanding to develop the Vung Ang 3 Thermopower Plant in the central Ha Tinh Province under a build-operation-transfer (BOT), … [Read more...]

Vietnam seeks qualified workers for manufacturing sector

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VietNamNet Bridge – The growing tendency of multi-nationals to relocate their factories from neighboring countries to Vietnam has led to increased demand for medium- and high-ranking personnel. Manufacturing companies have replaced trade businesses to become the biggest clients of Navigos Search, a human resource service provider, in 2014. The number of orders for medium- and high-ranking personnel placed by manufacturing companies has increased sharply recently. In the fourth quarter of 2014, the orders for workers from the manufacturing sector accounted for 27 percent of the total number of orders, a sharp increase from the 17 percent in the second and third quarters of the same year. In fact, the increase in the demand for qualified workers is expected as many multinationals have decided to set up production bases in Vietnam. After taking over Nokia’s mobile phone manufacturing division, Microsoft plans to relocate factories in China, Mexico and Hungary to … [Read more...]

VCCI Suggest Cooperation with Samsung in Skilled Manpower Training and Supporting Industries Development

Dr. Vu Tien Loc, President of the Vietnam Chamber of Commerce and Industry (VCCI), recently received newly-appointed Samsung Vietnam General Director Han Myoung Sup at VCCI headquarters in Hanoi.

At the meeting, Loc appreciated Samsung’s contributions [to Vietnam] and reaffirmed VCCI’s companion and support for Samsung in promoting investment in Vietnam. He also hoped that Samsung will expand research and development (R&D) in Vietnam and cooperate with Vietnamese businesses to enable them to join more deeply into global production chains. He also suggested Samsung coordinate with VCCI to deploy three major strategic programmes. Firstly, Samsung cooperates with VCCI to carry out business executive and high-level human resources training programmes. Secondly, Samsung and VCCI jointly launch a programme on promotion of supporting industries. Thirdly, VCCI and Samsung will work together with Vietnam Television (VTV) to produce a documentary film about Vietnam - Korea friendship history. Thu Ha … [Read more...]

HCM City funds infrastructure for Samsung project

HCMC chairman Le Hoang Quan (R) talks to Han Myoung Sup at a meeting in the city on January 22.

The government of HCMC is spending around VND1 trillion developing infrastructure and building facilities to support the implementation of Samsung’s US$1.4-billion electronics project at the Saigon Hi-Tech Park (SHTP). HCMC chairman Le Hoang Quan unveiled the huge spending at a meeting with Han Myoung Sup, general director of Samsung Vietnam, and some senior representatives of Samsung in Vietnam in the city on January 21. Han has been appointed to head all projects of Samsung in Vietnam, including the Samsung CE Complex (SECC) at SHTP, which was licensed last October. According to Quan, the city government is urgently developing facilities on 70 hectares of land at SHTP planned for SECC, leveling the site and building roads so that Samsung can have cleared land on schedule. The budget for all these works is VND1 trillion, he said. Han said at the meeting that Samsung has implemented many projects in Southeast Asia but the project in HCMC is important. Samsung is trying to … [Read more...]

City funds infrastructure for Samsung project

HCMC chairman Le Hoang Quan (R) talks to Han Myoung Sup at a meeting in the city on January 22 - PHOTO: LE HOANG

Le Hoang HCMC chairman Le Hoang Quan unveiled the huge spending at a meeting with Han Myoung Sup, general director of Samsung Vietnam, and some senior representatives of Samsung in Vietnam in the city on January 21. Han has been appointed to head all projects of Samsung in Vietnam, including the Samsung CE Complex (SECC) at SHTP, which was licensed last October. According to Quan, the city government is urgently developing facilities on 70 hectares of land at SHTP planned for SECC, leveling the site and building roads so that Samsung can have cleared land on schedule. The budget for all these works is VND1 trillion, he said. Han said at the meeting that Samsung has implemented many projects in Southeast Asia but the project in HCMC is important. Samsung is trying to put it into operation around this time next year. The latest smart TVs will be turned out in the first phase of the project before the production of household electronic appliances. Earlier, the authority of … [Read more...]

Ho Chi Minh City welcomes Samsung project with over $46mn in infrastructure upgrades

The southern megacity is expected to spend as much as VND1 trillion ($46.6 million) to develop infrastructure to serve the Samsung project,

Ho Chi Minh City is spending over US$46 million on infrastructure upgrades to speed up the implementation of a multibillion-dollar project by Samsung, the city’s chairman told executives of the South Korean electronics titan on Wednesday. The Saigon Times Online quoted chairman Le Hoang Quan as saying at a meeting with Han Myoung Sup, executive presidents of Samsung Electronics, and other high-ranking officials from the company. Han has just been appointed general director of Samsung Vietnam and assigned to oversee all of Samsung’s investments in the Southeast Asian country, including the $1.4 billion plant at the Saigon Hi-Tech Park, Ho Chi Minh City’s tech hub, according to the newswire. The city money is being spent on site clearance and bridge and road construction so that Samsung can soon begin implementing its project, according to the city’s chairman. Quan added that the megaproject is expected to help boost the city’s socio-economic … [Read more...]

Employment demand for execs jumps

Thai Ngoc Nguyen Thi Van Anh, managing director of Navigos Search, told the Daily on January 12 that the middle-ranking and senior personnel needed by the sector accounted for 17% of the total demand for employees in the third quarter last year but climbed to 27% in the final quarter of last year. Employment needs at consumer goods enterprises rose from 9% in the third quarter to 17% in the fourth quarter and from 3% to 9% at the banking-insurance companies. However, the information technology sector saw a quarter-on-quarter fall from 15% to 13% in demand for senior staff. Last year, Navigos Search was unable to find enough skilled engineers as requested by Microsoft Vietnam and Samsung Vietnam, Anh said. Anh said the highest monthly salary of VND202 million (US$9,463) in the fourth quarter was offered by a company in HCMC for the post of e-commerce director, followed by VND148 million for the head of sales and administrative office in the education sector, and VND110 million … [Read more...]

Samsung asks PM for tax exemption

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Samsung Electronics CE Complex JSC has submitted a proposal to the Prime Minister, relevant ministries and departments, seeking preferential treatment for its Samsung CE Complex project. As Dat Viet news website reports, the South Korean business giant's member company has sought to be exempted from paying taxes on imported construction material. It also requested for tax exemption for imported materials, components in five years since it started manufacturing products or since taxes were erased in Viet Nam following the signing of the ASEAN Trade in Good Agreement (ATIGA). In addition, it has also asked to be given preference during the customs procedure. The Sai Gon Hi-tech Park-based project was granted an investment certificate on October 1, 2014, and has a total area of 70 ha. It will break ground in January 2015 and is expected to become operational during the second quarter of 2016. Samsung CE Complex will manufacture high-technology home appliances, such as TVs, printing … [Read more...]

Samsung and its $20 billion plan in VN

A Samsung factory in Vietnam.

VietNamNet Bridge - Besides electronics, Samsung Group also invests in industry, infrastructure, transportation, shipping, and real estate in Vietnam, reports the Ministry of Planning and Investment. relate news Vietnamese companies want to make parts and accessories for SamsungThe power of SamsungElectronic giants invest billions into VietnamSamsung gets special treatment for its Display project in Bac Ninh According to the Ministry’s report, this year Samsung invested $5.4 billion in electronic projects in Vietnam, including $1 billion in a factory in Yen Phong, Bac Ninh province, manufacturing screens. This factory will be able to produce 50 million products a year, with production value of $6 billion. In HCM City, Samsung has invested $1.4 billion in Samsung CE Complex (SECC) in the HCMC High-tech Park. In Thai Nguyen province, the Korean group is implementing the second phase of the Samsung Thai Nguyen hi-tech complex project with $3 billion. In the field of … [Read more...]

Local firms to make 144 Samsung components

The Ministry of Industry and Trade (MoIT) has announced a list of 144 parts, which will be produced by local suppliers in partnership with Samsung Electronics Vietnam. Information revealed on the ministry's website showed that 91 of the total number of agreed parts would be used for the smartphone Galaxy S4 production, while the remaining 53 parts would be for the 7-inch tablet. The parts range from simple to complex mechanics, such as battery, earphone, USB data storage devices and insulation tape. Parts used for cable data transmission are included as well. The ministry said it would cooperate with Samsung to connect Vietnamese parts suppliers with the company. This is the first time MoIT published a detailed list of the parts on its website. This decision to publicise the list is aimed to encourage the participation of partners from both Vietnamese and foreign direct invested enterprises, which could meet Samsung's requirements. Parts suppliers could directly contact the … [Read more...]

KF Samsung scholarships for students from low-income families

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(VOV) -The Ministry of Education and Training and the Embassy of the Republic of Korea in Vietnam on December 5 held a ceremony to grant 370 KF-Samsung Scholarship to students who come from low-income families but get excellent academic records. This year, the scholarships went to 220 tertiary students with US$200 for each, and 150 high school students with US$100 for each. The scholarships, supported by the Korean International Exchange Foundation and Samsung Vietnam, aim to strengthen academic exchanges among students of the two countries. … [Read more...]

Government News 10/11

TPP Agreement unlikely to be reached by the end of 2014 The 12 ministers negotiating the Trans-Pacific Partnership (TPP) failed to identify a clear course of action to conclude talks by the end of this year at a meeting on the sidelines of the Asia-Pacific Economic Cooperation (APEC) forum in Beijing, but agreed to accelerate the negotiation progress as much as possible. Japan's minister in charge of the Trans-Pacific Partnership talks, Akira Amari, informed the press after the 12 TPP trade chiefs met in the Chinese capital on November 8. … [Read more...]

Party leader hails national solidarity

THAI NGUYEN (VNS) - Party General Secretary Nguyen Phu Trong yesterday joined residents of Thanh Xuyen 4 Hamlet in this northern province's Pho Yen District to celebrate the annual National Great Solidarity Festival. Speaking to residents, the Party leader said the festival, which aimed to mark the founding anniversary of the Viet Nam Fatherland Front (VFF) on November 18, was an opportunity for people throughout the country to review all campaigns and activities that the VFF launched, as well as honour organisations, families and individuals who were exemplary in movements of patriotic emulation and great solidarity. … [Read more...]

Party leader works with Thai Nguyen provincial authorities

Trong expressed his delight at the achievements made by the local party organization, government and people, including a 20% annual growth rate, 55 million dong of income per capita, a poor household rate of 7% and robust Party building work. (VOV) -Party leader Nguyen Phu Trong paid a working visit to Pho Yen district, Thai Nguyen province on November 9. The Party leader urged the local district and Thai Nguyen province to strengthen management of industrial zone, residential areas and vocational training for sustainable development. … [Read more...]

Party leader tours Thai Nguyen province

Trong expressed his delight at the achievements made by the local party organization, government and people, including a 20% annual growth rate, 55 million dong of income per capita, a poor household rate of 7% and robust Party building work. (VOV) -Party leader Nguyen Phu Trong paid a working visit to Pho Yen district, Thai Nguyen province on November 9. The Party leader urged the local district and Thai Nguyen province to strengthen management of industrial zone, residential areas and vocational training for sustainable development. … [Read more...]

Party leader Nguyen Phu Trong works in Pho Yen District, Thai Nguyen province

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(VOVworld) - Party leader Nguyen Phu Trong paid a working visit to Pho Yen District, Thai Nguyen province on Sunday. He was pleased with achievements made by the party organization, government and people, including a 20% annual growth rate, 55 million dong of income per capita, a poor household rate of 7% and robust Party building work. The Party leader urged the local district and Thai Nguyen province to strengthen management of industrial zone, residential areas and vocational training for sustainable development. He called for better preparation for Party congresses at all levels and visited the Samsung Vietnam Electronics in Yen Binh industrial zone. … [Read more...]