NA Chairman receives leader of Samsung Electronics

Update: 16:05 | 01/03/2023

Vietnam has always paid attention to protecting legitimate interests of foreign investors, including Samsung, National Assembly (NA) Chairman Vuong Dinh Hue told Park Hark Kyu, President and Chief Financial Officer of Samsung Electronics Co., Ltd., of the Republic of Korea (RoK).

During his reception for Park in Hanoi on February 28, the top legislator highly valued the business results of Samsung's subordinate companies in Vietnam, and congratulated its successes in the Southeast Asian nation.

NA Chairman, Samsung Electronics, legitimate interests, foreign investors, Southeast Asian nation, semiconductor technology

National Assembly (NA) Chairman Vuong Dinh Hue (R|) shakes hands with Park Hark Kyu, President and Chief Financial Officer of Samsung Electronics Co., Ltd.

He affirmed that the government and relevant agencies of Vietnam have paid special heed to removing difficulties and obstacles, and considering proposals of Samsung through periods.

The NA Chairman spoke highly of Samsung’s investment and development of supporting industrial partners in its ecosystem in Vietnam; and the establishment of a R&D centre in Hanoi. He suggested the firm continue to invest and develop semiconductor technology in the country.

Hue expressed his hope that Samsung will continue to pour long-term investment in the country, affirming that the Government of Vietnam always focuses on improving the business and investment environment and enhancing competitiveness, and creates the most favourable conditions for investors to do business in Vietnam.

Regarding the global minimum tax rate of the Organisation for Economic Cooperation and Development (OECD), Hue affirmed that relevant agencies of Vietnam have been proactively studying the issue, thus bringing it into the country's law, especially accelerating the revision of the Law on Corporate Income Tax.

He emphasised a number of principles when completing the legal framework and reviewing additional incentives for investors, saying that Vietnam must comply with OECD's global minimum tax commitment to ensure the publicity, transparency and fairness.

For his part, Park said Samsung has overcome all difficulties since 2008, proving that with the active cooperation of Vietnam, Samsung’s investment in the Southeast Asian nation was a sound decision.

The RoK firm’s export turnover reached about 65 billion USD in 2022, and its accumulative investment in Vietnam has amounted to 20 billion USD, he said.

Samsung has inaugurated its Research and Development Centre (R&D) worth 220 million USD in Vietnam, Park said, adding that the firm will make every effort to develop it into a global development centre.

The Vietnamese NA and Government have built a good investment environment, and Samsung can continue to achieve successes through its long-term investment in Vietnam, Park said.

Samsung will do its best to contribute as the largest and long-term investor in Vietnam, he stressed.

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Source: VNA

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