The Prime Minister congratulated Samsung for fulfilling its 2022 business goals, completing the construction and putting into operation the Research and Development (R&D) Center in Hanoi as committed. Vietnam and Korea have agreed to elevate the Comprehensive Strategic Partnership on 05/12/2022, opening up new opportunities in Vietnam-Korea cooperation in general as well as between businesses of the two countries in particular.

The Prime Minister believed and hoped that, on the basis of the good relations between the two countries, the achieved cooperation results and the trust and sincerity, Samsung would continue to be one of the leading flags to promote economic cooperation between the two countries with more new strategic projects, continue to promote business results and expand investment activities, aiming for new higher goals in 2023 and the following years.

The Prime Minister affirmed that the Vietnamese Government is committed to continuing to accompany, listen, dialogue, promptly remove difficulties and obstacles, have solutions suitable to the situation, create favorable conditions for foreign investors, including Samsung, to invest effectively and sustainably develop in Vietnam with the view of "harmonious benefits, shared risk".

At the meeting, Mr. Park Hark Kyu thanked the attention, companionship and support of the Government and localities, highly appreciated the investment and business environment of Vietnam; affirmed Samsung's commitment to continue accompanying and contributing positively to the socio-economic development process of Vietnam. Samsung identifies Vietnam not only as a global production base but also aims to make Vietnam the "center of the Group's global research and development centers".

He also said that the Group has achieved many results and will continue to make efforts to implement the Prime Minister's direction when attending the inauguration ceremony of Samsung's R&D center in Hanoi on human resource training solutions to have more Vietnamese join Samsung Vietnam's leadership team, improve the localization rate, domestic production value and promote cooperation with the National Innovation Center of Vietnam. Up to now, there are more than 2,000 engineers working at Samsung's R&D center in Hanoi; The number of Vietnamese Tier 1 and Tier 2 suppliers in Samsung's global supply chain increased 10-fold, from 25 enterprises in 2014 to 257 enterprises by the end of 2022.

In addition, Mr. Park Hark Kyu also proposed to the Prime Minister some contents on encouraging the use of "made in Vietnam" products.

At the meeting, General Director Park Hark Kyu and Prime Minister Pham Minh Chinh discussed issues such as global minimum tax, forecast of economic recession, etc.

Thanking and acknowledging Samsung's proposals, the Prime Minister said that the global minimum tax rate is an externally arising policy that influences and impacts Vietnam as a country that attracts and receives investment. The Prime Minister has established a working group headed by Deputy Prime Minister Le Minh Concept to study, analyze and evaluate fully and thoroughly the impacts, continue to listen to the opinions of the parties, refer to experiences of relevant countries, have the most optimal solutions, suitable to the situation, in accordance with international commitments and international practices, ensuring transparency, minimizing adverse impacts on the investment environment, "harmonized benefits and shared risks" between the parties.

Samsung is the largest foreign direct investor in Vietnam. The Group's major projects are concentrated in Bac Ninh, Thai Nguyen and Ho Chi Minh City, with a total registered investment of about US$20 billion. In 2022, revenue and exports reached $73.7 billion and $65 billion, respectively. Samsung's phone production in Vietnam accounts for about 50% of Samsung's total phone production globally. As of November 11, the total number of employees of the Samsung Complex of Companies in Vietnam is nearly 2022,100 people.