At his meeting with Prime Minister Nguyen Xuan Phuc at the Government Office in Hanoi on Tuesday, Han briefed the Government leader on his company’s business performance, the Government news website reports.

Samsung Vietnam expects to fetch total revenue of US$60 billion this year, including more than US$50 billion from exports. Samsung Display Vietnam (SDV), a subsidiary of Samsung Vietnam, is forecast to export about US$10 billion worth of products this year. With an investment of US$6.5 billion, SDV is expanding its production.

According to a report by Samsung Vietnam, its revenue amounted to US$46.3 billion in 2016 though it stopped Samsung Note 7 smartphone production over issues with overheating and fires. Its exports totaled US$39.9 billion, growing 9.9% over 2015 and accounting for 22.7% of Vietnam’s export turnover.

Six Samsung factories in Vietnam are employing 107,000 Vietnamese workers. The company plans to increase employment to meet the high demand for the firm’s newest smartphone models, Samsung Galaxy S8/S8+.

Han said he expected the Vietnamese Government, ministries and agencies would provide continued support for Samsung Vietnam and SDV to perform well in Vietnam.

Prime Minister Phuc said he wanted Samsung to expand investment into power generation, port infrastructure, science and technology and health care.

He also asked Samsung to help develop supporting industries in Vietnam, transfer technology to domestic enterprises in supporting industries, especially small and medium enterprises, and buy input materials for its projects in the country.

The Vietnamese Government will create favorable conditions for foreign investors like Samsung to do business, Phuc said.

Samsung factories in Vietnam specialize in electronics and household appliances. Samsung Vietnam exports its products to 52 countries and territories.

Source: thesaigontimes.vn