Samsung has become the largest investor in Vietnam by setting
up factory to produce electronics products in Vietnam and then export to more
than 50 countries in the world.
According to Mr Hyun Woo Bang – Deputy General
Director of Samsung Vietnam, the cheap and abundant labor source is not the
main reason leading to the decision to expand Samsung’s investment in Vietnam.
In a recent meeting with the Ministry of
Information and Communications, a leader of Samsung has revealed that each 100
employees in the mobile segment of Samsung, there are 80 Vietnamese. Currently,
the corporation is employing around 130,000 employees in Vietnam.
In 1995, Samsung started to invest in Vietnam,
so far has been 21 years. Since 2008, Samsung has formally invested in mobile
phone manufacturing factory. Currently, Samsung has about 130,000 Vietnamese
workers. There were so many people questioning if Samsung invested in Vietnam
because of cheap labor. However, labor is not the most important factor. In
terms of labor resources, Vietnam is not the richest country in comparison with
India. Regarding labor costs, there are many other countries in the region also
having cheaper labor costs than Vietnam. The quality of Vietnam’s labor is also
not the best in comparison with surrounding countries.
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Samsung invests in Vietnam is a strategic
decision of the corporation based on the economic developments, tax policy,
stable political factor, labor sources, the ability to import raw materials…
So far Samsung has invested nearly 15 billion
USD in Vietnam. The two largest projects of Samsung in Vietnam are Samsung
Electronics Vietnam (SEV) with an area of 110 ha in Yen Phong, Bac Ninh and
Samsung Electronics Vietnam Thai Nguyen (SEVT) on an area of 170 ha in Pho Yen,
Thai Nguyen. These two factories are producing and assembling mobile phone,
tablet and phone components. Products from these factories will be exported to more
than 50 countries and territories worldwide.
In addition, Samsung has recently invested
more than 3 billion USD in Samsung Display (Bac Ninh); 300 million USD in
R&D center specialized in researching and innovating new products.
In 2015, Samsung exported about 32.5 billion
USD and two factories in Bac Ninh has provided 200 million mobile phones
globally. In 2016, the factory in Ho Chi Minh City and Samsung Display will
continue to go in operation with great outputs providing to the global market.
Vietnam has become the largest smart phone
manufacturing headquarter in the world. Samsung has 9 factories and investing
in many countries, but their investment in Vietnam is the largest.
In many countries around the world, thebusinessenvironment
of Vietnam is very stable. Perhaps because of large
investments, Samsung always get the support from the Government and local
authorities. Currently, there is a shift of capital flows of multinational
corporations from one country to another. Therefore, Vietnam should base on the
new context to offer attractive strategy accordingly.
ANT Consulting is here
to assist you from the outset; providing corporate intelligence, risk advisory,
management consulting services that assist market entrance, and ensure
efficient business start-up operation. Our services are as following:
We strive to save your
cost by guiding you towards economical solutions that comply with local
legislation and procedures. We support you through early logistic solutions and
carry you through as your business grows. We aim to bridge the gap between
international best practices and local cultures and assist foreign companies
and organizations entering Vietnam market to overcome commercial and regulatory
issues.
We could be reached at
email: ant@antconsult.vn or
tel: +848 3520 2779 . To learn more about us, please visit www.antconsult.vn
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