The risk of a new outbreak of Covid-19 in Europe and the US has been raising concerns that supply chains of raw materials for production will break again. Therefore, foreign direct investment (FDI) enterprises that manufacture end products in Vietnam have been accelerating their capacity to expand domestic supply chains.
In recent years, electronics industry has always been among top ten industries with highest export proportion of tens of billions US dollars annually. However, this ‘piece of cake’ mostly belongs to foreign direct investment (FDI) enterprises.
Samsung Vietnam’s export turnover reached more than US$ 60 billion in 2018, an increase of 12 percent over 2017, employed 160,000 Vietnamese workers, said newly appointed General Director of Samsung Vietnam yesterday.
Prime Minister Nguyen Xuan Phuc received Vice Chairman of Samsung Group Lee Jae-yong in Hanoi on October 30, asking the Republic of Korea-based firm to expand investment and turn Vietnam into its largest production hub.