At a recent working session between Samsung Vietnam and northern Bac Ninh province, it was revealed that Samsung Vietnam's 2024 total revenue had reached $31.4 billion, a 10% decrease compared to 2023.

However, projections for 2025 are optimistic, with expected revenue estimated at $34.7 billion, a 10% increase from 2024.

The projected growth for 2025 hinges on Samsung Vietnam's production expansion project, which has a total investment of $1.8 billion. The first phase, involving an investment of $1.2 billion, received its Investment Certificate from Bac Ninh province in early 2025.

During the meeting, Mr. Choi Joo Ho, General Director of Samsung Vietnam, expressed his gratitude for Bac Ninh province's support. He highlighted the province's efforts in addressing challenges related to the global minimum tax issue and Samsung Vietnam's 3-year preferential treatment.

Mr. Nguyen Anh Tuan, the provincial Party Committee Secretary, noted that Bac Ninh had achieved or exceeded all 19 socio-economic development targets for 2024, with economic growth reaching 6.03%.

He credited these significant achievements to the combined efforts of the political system and the business community, with South Korea remaining the largest contributor to Bac Ninh's total FDI.

Earlier this year, Bac Ninh held a ceremony to grant Investment Certificates and approvals to domestic and foreign businesses, totaling more than $1.9 billion, including Samsung Vietnam's project.