Vietnam remains a country with a competitive advantage in attracting foreign investment, according to Chairman of the Vietnam Association of Foreign Invested Enterprises.
Cooperative project with MoIT to help Vietnamese enterprises develop smart plants and train experts in smart factory consulting in the northern region.
Mr. Choi Joo Ho, General Director of Samsung Vietnam, told the Multilateral Forum (MSF) 2022 on improving Vietnam’s position in global value chains, held on October 19, that the country holds many advantages in this regard, such as a dynamic economy and expanding consumer market. To use these advantages, it is necessary to expand participation in global supply chains by promoting supporting industries.
Samsung Electronics will produce the Flip-chip Ball Grid Array at Samsung Electro-Mechanics Viet Nam (SEMV) in northern Thai Nguyen province from July 2023. The announcement was made by Mr. Roh Tae-Moon, CEO of Samsung Electronics, when he met with Prime Minister Pham Minh Chinh on August 5.
The Samsung Electro-Mechanics project in northern Thai Nguyen province has been in operation since 2015, with total investment of $1.35 billion and more than 6,500 workers. The project has been granted an amended investment license, to invest an additional $920 million. It produces an array of semiconductor chips and electronic components and parts for high-tech mobile and telecommunications equipment, among other items.
After ten weeks of consulting with South Korean experts at Samsung, two businesses in northern Bac Ninh province cut their product defect rates by 50 per cent and 20 per cent, respectively. Samsung has consulted with 260 businesses involved in its supply chain, to help them increase productivity, cut defects, or reduce inventory, among other things.