Samsung Vietnam exported $65 billion worth of products last year, down 0.8% from 2021.
The company’s exports accounted for nearly 9% of Vietnam’s total trade turnover of $700 billion last year, Deputy Prime Minister Le Minh Khai said during a recent meeting with Park Hark Kyu, president of Samsung Electronics.
Khai also praised the company’s launch of its R&D center in Hanoi last month, which is Samsung’s biggest such facility in Southeast Asia.
Park said he has traveled to Vietnam more than 20 times to look for investment opportunities.
“For the last 10 years, every time I look back, I think that investing in a factory in Thai Nguyen Province was a wise choice,” said Park, referring to the northern locality where Samsung placed its key smartphone manufacturing plant.
To date, Samsung has invested $18.2 billion in Vietnam and plans to increase the figure to $20 billion.
Half of Samsung’s smartphones are produced in Vietnam.
