Samsung confirms that information about moving smartphone production lines from Vietnam to India is incorrect

According to information from the Tay Nguyen Provincial People’s Committee, on the afternoon of March 17, Mr. Choi Joo Ho, General Manager of Samsung Vietnam Group, held a meeting with the provincial leaders. Comrades receiving and working with the Samsung delegation included: Nguyen Than Hai, member of the Party Central Committee, Secretary of the Provincial Party Committee, head of the delegation of the National Provincial Council; Trinh Viet Hung; alternate member of the Party Central Committee, deputy secretary of the Provincial Party Committee, chairman of the Provincial People’s Committee; Mr. Pham Hwang Soon, Permanent Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People’s Assembly; Leaders of the Provincial People’s Committee and heads of a number of provincial departments, departments and branches.

At the meeting, Mr. Choi Joo Ho, General Manager of Samsung Vietnam Complex emphasized: In the nearly 10 years of operation in the province, Samsung has always received the company’s attention, creation and companionship. All levels, branches and people Thai Nguyen Province.

From an initial project, Samsung Electronics Vietnam – Thai Nguyen Company (SEVT), which started in March 2013, with a capital of 2 billion US dollars, after only one year, the project has increased by 3 billion US dollars.

After that, Samsung kept its promise to raise investment capital and expand production. Recently, Samsung increased its capital by US$1.187 billion in its Samsung Electro-Mechanics Vietnam plant (in Thai Nguyen Province), bringing the group’s total investment in Thai Nguyen to more than US$7.5 billion.

Samsung has confirmed that information about moving smartphone production lines from Vietnam to India is incorrect - Photo 1.

Mr. Choi Joo Ho, General Manager of Samsung Vietnam Complex and Ms. Nguyen Thanh Hai, Secretary of Thai Nguyen District Party Committee at the meeting. Photo: Thai Nguyen Provincial People’s Committee

Samsung Group unit leaders in Thai Nguyen Province also pledged to maintain stable production or higher growth compared to 2022 and continue research and investment in the production of transistor network products. It was tested in May 2023 and officially put into production from November 2023. In 2023, Samsung sets a growth target of 5% in Thai Nguyen.

Mr. Choi Ju Ho emphasized, “The recent information about Samsung moving its smartphone production line from Vietnam to India is not true. Products produced in India are mainly intended for the domestic market and a small part is exported to African countries, while in Vietnam they are exported to 128 countries around the world.” Thus, the production of the Samsung plant in Vietnam is not affected by the production in India.”

In the meeting, the two sides also discussed the global minimum tax issue, according to which, in order to avoid affecting Samsung Vietnam’s competitiveness, Samsung Group wants the Vietnamese government to quickly consider and find a solution for this.

Thai Nguyen County Leader also said that Samsung’s presence has made great contributions, and has had a strong impact on the county’s direction of industry development towards modernization, as well as a positive impact on the industry’s transformation. Thus, the governorate contributes to the indicators of the value of industrial production, and the value of the governorate’s exports is always at the forefront of the state, indicators of economic growth, and budget revenues… It has also achieved very impressive results in recent years.

Regarding the recommendations of Samsung Vietnam at the meeting, the leaders of Thai Nguyen Province pledged to always support and accompany the proposal and recommend to the National Assembly and the Government of Vietnam to consider building adaptation to the global minimum tax, which will soon remove Samsung’s difficulties in Thai Nguyen Province in particular and Vietnam in general and thus continue to maintain and enhance its role Samsung Group’s “global production base” in Vietnamcontinue to make great contributions to the social and economic development of Tay Nguyen Province as well as the whole country.

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