Vietnam Vietnam Economy Thread

[ruminguyen]

Vietnam economy to grow almost five times by 2035​

Vietnam economy to grow almost five times by 2035 - VnExpress International

Vietnam's economy is expected to grow five times, becoming the 19th largest economy in the world in 2035, a report says.

e.vnexpress.net

Vietnam's economy is expected to grow five times, becoming the 19th largest economy in the world in 2035, a report says.

Steady and consistent growth is set to help it go past major Asian economies like Taiwan and Thailand by 2035, U.K consultancy the Centre for Economics and Business Research (CEBR) said in its annual league table on the growth prospects of 193 economies released last week. The country now is the 37th largest economy.

Its GDP growth is forecast at 7 percent a year over the next five years, and 6.6 percent in the subsequent decade.

The report estimated Vietnam’s nominal GDP by 2035 to be $1.59 trillion from the current $341 billion, a nearly five-fold increase in 15 years.

Despite the Covid-19 pandemic, the Vietnamese economy, unlike most others, was able to escape a contraction in 2020 thanks to competent handling of the crisis, the report said. It grew at 2.91 percent.

The government has set a GDP growth target of 6.5 percent for 2021.

China will overtake the U.S. as the world’s biggest economy in 2035 after outperforming its rival during the global Covid-19 pandemic, according to CEBR.

the results of economic during the pandemic could be contributed by the efforts of both Vietnamese Government and citizens. With good policies from country administrators and the great following of people, economic development of Vietnam is still remained stable and hasn't plumped.
updated news with apkfun

 

[Nilgiri]

the results of economic during the pandemic could be contributed by the efforts of both Vietnamese Government and citizens. With good policies from country administrators and the great following of people, economic development of Vietnam is still remained stable and hasn't plumped.

Yes an exciting economy to follow its growth.

Also welcome to the forum!

 

[Viva_vietnamm]

Exports of many iron and steel products increased in November, especially impressive to the US market
Kieu Linh -

The United States ranks fourth in Vietnam's steel exports with a share of 9.22% in volume and 13.13% in price. However, there is a particularly impressive growth in exports to this market...

(Hoa Kỳ = flower flag = USA)

As reported by VnEconomy, in the first 11 months of 2021, Vietnam recorded an official steel export value of 10 billion USD, the first time steel products reached the export club of over 10 billion USD, and at the same time, a commodity with high export value. the growth rate over the same period was the highest, reaching 129.8%. While the remaining items average 10-20%.

IMPRESSED WITH THE SITUATION OF EXPORTS TO THE US
In more detail, the latest data from the Vietnam Steel Association shows that, in November 2021, many export steel products grew strongly compared to the same period last year.

Specifically, leading the export growth is galvanized steel sheet with production volume of 565.3 thousand tons in November, sales of 485 thousand tons, but exports reaching 326.7 thousand tons, an increase of more than 2 times compared to that of galvanized steel sheet. with the same period last year. The second place in terms of export speed is construction steel, production in November 2021 reached 1.08 million tons, sales reached 872.8 thousand tons, of which 205 thousand tons were exported, export growth reached 155. .8% over the same period last year.

In third place is cold rolled steel, with production of 392 thousand tons, sales of 174,000 tons, but exports increased by 93.2% compared to last year to reach 45 thousand tons. Followed by HRC products with export growth of 81.2%; steel pipe exports increased by 56.8%.

Exports of many iron and steel products increased by the same amount in November, especially impressive to the US market - Photo 1
Accumulated in the first 11 months of 2021, exports of galvanized steel reached 3 million tons, up 2.1 times over the same period in 2020. Construction steel exports reached 2 million tons, up 1.6 times; HRC exports increased 1.84 times; Cold rolled steel exports increased by 1.42 times, steel pipe exports increased by 83%.

In terms of export markets, the top 10 steel exporting countries of Vietnam in October was led by China with the proportion accounting for 27.28% in volume and 18.21% in price. Next is the EU with 11.6% in volume and 16.36% in price. The third is ASEAN with the proportion of 15.6% in volume and 14.99% in price.

The United States ranked fourth with a share of 9.22% in volume and 13.13% in price. However, there is a particularly impressive growth in exports to the US market. Previously, exports to the US market accounted for only 6% in September. At the end of 2020, exports to the US market accounted for only 1.9%.

Accumulated in the first 10 months of 2021, the top 5 steel export markets of Vietnam in 2020 are Asean (42.6%), China (36.53%), EU (2.88%), Taiwan (2.86). %) and the US (1.87%), there will be a change in 2021 as ASEAN is still a traditional market with the proportion of 28.86%, China 22%, EU 12%, US 7% and Taiwan 4 %.

Exports of many iron and steel products increased by the same amount in November, especially impressive to the US market - Photo 2
MANY NEW OPPORTUNITIES FOR BUSINESS STILL FROM US MARKET
Although China has always maintained the number one position, the number two steel export market of Vietnam is only behind ASEAN, however, steel demand for China's construction industry is forecasted to decline in the period of 2022 - 2025, a time when infrastructure projects gradually decrease and risks increase in the country's real estate industry.

According to sources, blast furnace utilization rates in the Hebei cities of Tangshan and Handan, two major steel production hubs in China, were below 65% and 70% respectively, as of mid-May. 11. Meanwhile, concerns about oversupply have emerged amid expectations of a decline in end-user demand in Q1 2022.

Market sources said that while property construction activity is likely to deteriorate in Q1 2022 due to poor home sales and land purchases in 2021, on the contrary, steel production could pick up .

Downstream, China's semi-finished steel imports in October reached 1.362 million tons, down 6.7% month-on-month, after recording a 30% month-on-month increase in September and an increase in July. 4% in August, according to Chinese customs data released on November 22, October imports fell 16% year-on-year.

China's nationwide steel production cuts in September boosted domestic steel prices, which stimulated overseas billet orders for November-December deliveries. may lead to a rebound in imports in November, December due to good orders.

However, as the end of 2021 approaches, buyers have shifted focus to contract discussions while several sources in China say neither traders nor end users are interested in stockpiling. , as the steel market may continue to trend downward in the context of oversupply in Q1/2022.

This implies that exporting steel to the Chinese market is forecasted to be difficult in the coming time for Vietnamese exporters. In fact, exporting steel to

Xuất khẩu nhiều mặt hàng sắt thép tăng bằng lần trong tháng 11, ấn tượng đặc biệt với thị trường Hoa Kỳ

Hoa Kỳ đứng ở vị trí thứ tư xuất khẩu thép Việt Nam với tỷ trọng 9,22% về lượng và 13,13% về giá. Tuy nhiên, có sự tăng trưởng đặc biệt ấn tượng xuất khẩu sang thị trường này...

vneconomy.vn

 

[Viva_vietnamm]

Major General Le Dang Dung, Acting Chairman and General Director of Viettel, affirmed that the group has enough resources to master core technology instead of outsourcing and assembling.

Four major resources

At the recently held National Forum for Digital Technology Enterprise Development - VFTE 2021, Major General Le Dang Dung affirmed four resources to help Viettel achieve its goal of mastering core technology in the future.


In terms of technology, throughout the development process, Viettel always approaches high technology, new technology and researches and masters solutions to serve the process of building and operating telecommunications networks. Thereby, Viettel has accumulated technological background knowledge and built highly qualified human resources with rich experience in research and development.

Major General Le Dang Dung introduces the 5G circuit board developed by Viettel to Prime Minister Pham Minh Chinh at VFTE 2021. Photo: Viettel

So far, this group has filed 379 domestic and 48 international patent applications, and has been granted 51 patents in Vietnam and 9 patents in the US.

In terms of finance, Viettel is the largest telecommunications group in Vietnam with large resources accumulated over many years. Because the State has mechanisms and policies for enterprises to set up and use science and technology development funds, Viettel is completely proactive in finance for scientific research.

The Group has close relationships with many foreign partners, ready to transfer technology.

In terms of infrastructure, Viettel has a network in Vietnam and 10 countries around the world. This is an international market enough to ensure businesses test, evaluate and sell their products in the early stages.

Major General Le Dang Dung presented a speech at the National Forum for Digital Technology Enterprise Development - VFTE 2021 taking place on December 11th. Photo: Viettel

Creating digital infrastructure for the whole society

Currently, Viettel has mastered the entire 4G network telecommunications ecosystem on all three network layers (core network, transmission and access) with virtualization technology platforms, distributed data storage...

In the 5G network infrastructure, Viettel is conducting research on 5G network devices on all three network layers. Up to now, this corporation has mastered and put into trial operation on the network for core network equipment, 8T8R transceiver device.


Talking about achievements when developing 5G, Viettel's leaders said: "Viettel has designed and mastered two chipset lines of 5G transceivers. This is the latest chipset line and a technology trend in the world. can be widely applied to systems of wifi transceiver, communication, radar..."


The Group also develops and deploys platforms in the digital ecosystem for e-Government, healthcare, education, and transportation such as consulting platform, telehealth (Telehealth), online learning platform. online (Viettel study), payment platform (Viettel Money), smart transportation (ePass)...



"In its development process, Viettel always sets new challenges to overcome," Major General Le Dang Dung said.



According to the head of Viettel, since he was a hired unit and made a turning point into the telecommunications field, Viettel's leaders have always determined: to master core technologies. Viettel never stops at the level of processing, assembling and manufacturing under foreign licenses.



Mr. Dung emphasized that in order to achieve the goal of mastering core technology, it must be divided into sub-systems and have a roadmap for mastering and manufacturing in Vietnam. Accordingly, in the first phase, Viettel focuses on software development, which is the core of the product and the strength of Vietnam, gradually moving towards mastering the hardware and finally the chipset.



This unit said that, once the technology is mastered, the products will develop in an open direction so that it can create an ecosystem to help the business community develop applications on the platform provided by Viettel. Viettel also actively registers patents to protect intellectual property and participates in large associations and organizations to update technology as well as international standards, serving the research and development process: ITU , IEEE, TMForum, ORAN, ...



In the future, this group aims to develop semiconductor technology to produce 5G chipsets, 64Tx64R transceiver stations. Currently, the group actively participates in conferences and organizations that are part of the group of businesses that contribute to the world standard of 6G. Viettel also started to research and lay the foundation for the space industry.

'Viettel sẽ không gia công mà làm chủ công nghệ lõi'

Thiếu tướng Lê Đăng Dũng, Quyền chủ tịch kiêm Tổng giám đốc Viettel khẳng định tập đoàn có đủ nguồn lực làm chủ công nghệ lõi thay vì gia công, lắp ráp.

vnexpress.net

 

[ruminguyen]

my Vietnamese friend shared that Viettel is considered as the biggest telecommunication contributor in Vietnam and this technological company also provides high quality services and products.
updated news with apkfun

 

[Viva_vietnamm]

my Vietnamese friend shared that Viettel is considered as the biggest telecommunication contributor in Vietnam and this technological company also provides high quality services and products.

We should avoid the same mistake like CN and Huawei, bowing down to US for money to get richer will never be a smart way to build and develope a nation.

 

[Viva_vietnamm]

Vietnam, Australia announce roadmap for enhanced trade, investment ties
Tuesday, 18:45, 21/12/2021

VOV.VN - Vietnam and Australia on December 21 published their Enhanced Economic Engagement Strategy, setting out a roadmap to boost bilateral trade and investment ties.​

Some Vietnamese fruits such as litchees and durians have been exported to Australia.
Australian Minister for Trade, Tourism and Investment Dan Tehan welcomed the Strategy as the foundation for both countries’ efforts to double investment and become top ten trading partners.
“Australia and Vietnam have complementary economies - we are partners more than competitors. Our supply chains are becoming more closely entwined, meaning together we are exporting to markets around the world,” Dan Tehan said in a media prelease.
According to the minister, the implementation of the Economic Engagement Strategy will unlock mutually beneficial opportunities and boost bilateral trade and investment ties, especially in key areas such as education, resources, agriculture, manufacturing and digital economy.
As the two countries emerge from the pandemic and begin economic recovery, the strategy presents tremendous opportunities for them, he noted.
For his part, Vietnamese Minister of Planning and Investment Nguyen Chi Dung said success in achieving the common objectives of the Strategy will further enhance the economic position of Vietnam and Australia, contributing to the safety, security and shared prosperity of the Asia-Pacific region.
According to official data, over the past 20 years, the Australia-Vietnam trade has grown at an average rate of 8.6% per year, much higher than the average trade growth of 5.8 %/year between Australia and other ASEAN countries. Two-way trade in goods and services was estimated to reach AUD14.6 billion (US$10.4 billion) in 2020.
Meanwhile, Vietnam’s investment in Australia has increased fivefold from AUD155 million (US$110.5 million) in 2008 to AUD785 million (US$559.4 million) in 2020. Vietnamese investment grew the most in the 2010-2014 period, after the ASEAN-Australia-New Zealand Free Trade Agreement took effect.
For its part, as of December 2020, Australian investment in Vietnam hit AUD1.38 billion (US$980 million), ranking 20th among all foreign investors in the country. Australia mainly invests in the manufacturing, processing, food, agriculture, forestry and fishery sectors.

Vietnam, Australia announce roadmap for enhanced trade, investment ties

VOV.VN - Vietnam and Australia on December 21 published their Enhanced Economic Engagement Strategy, setting out a roadmap to boost bilateral trade and investment ties.

english.vov.vn

 

[EastseaQ77]

Vinfast sponsors cars for Cambodian police

 

[Viva_vietnamm]

Vietnam - US investment vibrant despite Covid-19

Recently, not only American businesses have found investment attraction in Vietnam, but Vietnamese businesses have also been more present in the US market.



This information was stated by Ms. Marie Damour, Chargé d'Affaires of the US Embassy in Vietnam at the Vietnam - US trade forum on December 7.



According to Ms. Marie, investment cooperation between Vietnamese and American businesses is diverse in many fields, from healthcare, education to energy, technology... "The two countries' businesses are maintaining strong cooperation development. investment despite the impacts from the Covid-19 epidemic," she said.



The flow of direct investment from the US has made an important contribution to the development of Vietnam with large-scale projects, contributing to building a strong foothold for Vietnam in the global supply chain. Currently, the US ranks 11th among the countries pouring the most investment capital into Vietnam with nearly 10 billion USD.



In contrast, many Vietnamese enterprises also have more presence in the US market. Typically, car company Vinfast announced an investment of more than 200 million USD in California to develop electric vehicles in this market, creating more than 1,000 jobs for local people. Or the first regular direct flight of Vietnam Airlines to the US after 20 years, mentioned by Ms. Marie as evidence of successful cooperation between the two countries.

Ms. Marie Damour, Chargé d'Affaires of the US Embassy in Vietnam. Photo: Hoang Phong



Mr. Do Thang Hai, Deputy Minister of Industry and Trade also agreed when saying that the uncertainties of global trade and the risk of stagnation caused by the Covid-19 epidemic, from a positive perspective, are an unprecedented opportunity for Vietnam. businesses. It is an opportunity to suggest business directions, develop new supply chains, including redundant supply systems located in many different locations to ensure sustainability and continuity.



Over the past 25 years, the two-way trade turnover between Vietnam and the US has increased 168 times, from 450 million USD in 1995 when the two countries established diplomatic relations to 1.5 billion USD in 2001.



According to the General Department of Customs, the trade balance will increase to USD 91 billion in 2020, an increase of nearly 20% compared to 2019. By the end of October, bilateral trade reached USD 89.6 billion, of which Vietnam exported imports to the US 76.7 billion USD and imports nearly 13 billion USD from the US.

Do Thang Hai said that businesses of the two countries need to promote the policy dialogue mechanism of the Vietnam - US Trade and Investment Council (TIFA) to create a favorable legal framework and promote exchange. trade and investment, promptly solve arising difficulties in the field of economy and trade.

"In the new normal state and new context, the two countries need to limit trade remedy cases and resolve outstanding economic and trade issues through negotiations. This is to ensure continuity. continuity in the operation of supply chains, as well as avoiding negative impacts on manufacturing industries already damaged by the pandemic," he emphasized.

Đầu tư Việt - Mỹ sôi động bất chấp Covid-19

Thời gian qua, không riêng các doanh nghiệp Mỹ tìm thấy sức hút đầu tư tại Việt Nam mà doanh nghiệp Việt cũng hiện diện nhiều hơn tại thị trường Mỹ.

vnexpress.net

 

[Viva_vietnamm]

Update: December, 26/2021 - 13:50
|

VinFast delivered its first smart electric cars VF e34 to customers. — Photo courtesy of the firm
HÀ NỘI — Vietnamese automaker VinFast on Saturday delivered its first smart electric cars VF e34 to customers, making Việt Nam one of a few countries worldwide mastering electric vehicle production technology.
Nearly 100 cars will be delivered in December, and about 2,000 in January.
Vinfast said it had received orders for over 25,000 units of the SUV model in the C segment, with respective length, width and height being 4,300mm, 1,768mm and 1,613mm, equipped with an electric motor with a maximum capacity of 110 kW.
The car features a smart virtual voice assistant capable of recognising Vietnamese accents regardless of regions for function control and casual Q&A.
The model uses a 42kWh battery pack, which can travel a distance of 300km after each full charge. In fast charging mode, the car can travel 180km after 15 minutes of charging.

VinFast delivers first smart electric cars to customers

Vietnamese automaker VinFast on Saturday delivered its first smart electric cars VF e34 to customers, making Việt Nam one of a few countries worldwide mastering electric vehicle production technology.

vietnamnews.vn

 

[Viva_vietnamm]

First batch of 25,000 units of model EV34 are delivered.

 

[Lordimperator]

Love the sleek design, may i know how much does it cost? In us$?

 

[Viva_vietnamm]

Love the sleek design, may i know how much does it cost? In us$?

its abt 690,000,000 VND , abt 30k USD, but the price can be reduced when Vinfast wanna bosst the sale ,bro.

 

[Viva_vietnamm]

VF7 (Electric Vehicle)

The rear of the VF 7 with identical cubes and the front of the car. The rear LED strip lights run across the hips, continuing to create a V-shaped highlight. The triangular cavity looks like an air intake, but in fact is placed a functional light cluster behind.

The interior of the VF 7 is also completely different from the VF e34 being sold in Vietnam. The new model uses a large touch screen placed in the middle, slightly tilted towards the driver. The steering wheel is beveled at the bottom and does not have a rear dashboard, supporting information with a HUD glass screen.

 

[Viva_vietnamm]

Vietnam officially surpassed China to become the main production place for Nike shoes.

CNBC news agency quoted the newly released financial report of the sports company Nike as saying that in 2021, Vietnam's shoe production for Nike accounts for 51%, while this rate in China has dropped to 21%. In 2006, China produced shoes for Nike at 35%.

The report also said that Indonesia also surpassed China in the production rate of Nike shoes with a figure of 35%.

In fact, Nike is not the only representative to move factories from China to Vietnam. Even their biggest rival, Adidas, is moving in a similar direction, with 40% of its footwear production being made in Vietnam.

Why has Vietnam surpassed China to become the largest Nike shoe producer?

The Nike Air Max

According to a representative of the Vietnam Leather, Footwear and Handbag Association, Nike branded products are supplied by 191 manufacturing factories located in 14 countries around the globe. In particular, most of Nike's footwear products are manufactured outside the US through more than 15 independent contract manufacturers. Before 2010, China was the largest manufacturer of Nike footwear, but has since been replaced by Vietnam.

Talking to Lao Dong, Ms. Phan Thi Thanh Xuan - Vice President and General Secretary of the Vietnam Leather - Footwear - Handbag Association, the reason why Vietnam has become the largest Nike shoe producer in the world is because Vietnam has human resources are abundant. "The potential from the abundant labor force is the factor that attracts Nike to choose Vietnam," said Ms. Xuan.

Besides, according to Ms. Xuan, the processing quality of Vietnamese footwear products is quite good, meeting strict requirements from partners.

"In recent years, a number of enterprises in the footwear industry have invested in modern machinery and equipment, automating some production stages, thereby improving labor productivity and product quality." Ms. Xuan said.

In fact, the 4th wave of disease in Vietnam has affected Nike's production quite a lot. There was a time when major Nike shoe suppliers in Vietnam had to temporarily close to prevent the COVID-19 epidemic from causing disruption. Factories in Vietnam then reopened in mid-September 2021.

With a strategy of living safely against the epidemic and high vaccine coverage in Vietnam, Nike's leadership still believes and is optimistic about the uninterrupted supply chain. Currently, Nike factories in Vietnam have returned to normal operations and fulfilled orders in 2022.

Vì sao Việt Nam vượt Trung Quốc trở thành nơi sản xuất giày Nike lớn nhất?

<p>Việt Nam chính thức vượt Trung Quốc để trở thành nơi sản xuất chính cho giày Nike.</p>

vietnamnet.vn

 

[Indos]

Vietnam officially surpassed China to become the main production place for Nike shoes.

CNBC news agency quoted the newly released financial report of the sports company Nike as saying that in 2021, Vietnam's shoe production for Nike accounts for 51%, while this rate in China has dropped to 21%. In 2006, China produced shoes for Nike at 35%.

The report also said that Indonesia also surpassed China in the production rate of Nike shoes with a figure of 35%.

In fact, Nike is not the only representative to move factories from China to Vietnam. Even their biggest rival, Adidas, is moving in a similar direction, with 40% of its footwear production being made in Vietnam.

Why has Vietnam surpassed China to become the largest Nike shoe producer?

The Nike Air Max

According to a representative of the Vietnam Leather, Footwear and Handbag Association, Nike branded products are supplied by 191 manufacturing factories located in 14 countries around the globe. In particular, most of Nike's footwear products are manufactured outside the US through more than 15 independent contract manufacturers. Before 2010, China was the largest manufacturer of Nike footwear, but has since been replaced by Vietnam.

Talking to Lao Dong, Ms. Phan Thi Thanh Xuan - Vice President and General Secretary of the Vietnam Leather - Footwear - Handbag Association, the reason why Vietnam has become the largest Nike shoe producer in the world is because Vietnam has human resources are abundant. "The potential from the abundant labor force is the factor that attracts Nike to choose Vietnam," said Ms. Xuan.

Besides, according to Ms. Xuan, the processing quality of Vietnamese footwear products is quite good, meeting strict requirements from partners.

"In recent years, a number of enterprises in the footwear industry have invested in modern machinery and equipment, automating some production stages, thereby improving labor productivity and product quality." Ms. Xuan said.

In fact, the 4th wave of disease in Vietnam has affected Nike's production quite a lot. There was a time when major Nike shoe suppliers in Vietnam had to temporarily close to prevent the COVID-19 epidemic from causing disruption. Factories in Vietnam then reopened in mid-September 2021.

With a strategy of living safely against the epidemic and high vaccine coverage in Vietnam, Nike's leadership still believes and is optimistic about the uninterrupted supply chain. Currently, Nike factories in Vietnam have returned to normal operations and fulfilled orders in 2022.

Vì sao Việt Nam vượt Trung Quốc trở thành nơi sản xuất giày Nike lớn nhất?

<p>Việt Nam chính thức vượt Trung Quốc để trở thành nơi sản xuất chính cho giày Nike.</p>

vietnamnet.vn

Please contribute in my new thread in PDF for Seagames Vietnam 2022

 

[Viva_vietnamm]

Please contribute in my new thread in PDF for Seagames Vietnam 2022

We don't have much new abt Seagames Vietnam 2022 yet

 

[Viva_vietnamm]

TURNING VIETNAM INTO A R&D HUB OF SAMSUNG​

- What are Samsung Vietnam’s goals in the near future?

Mr. Choi Joo Ho: We aim to create the most advanced products. Samsung will strive to overcome difficulties and adapt to changes in the market to retain our current number 1 position.

In Vietnam, to return the love afforded us by the Government and the people, Samsung is planning its next breakthrough: constructing an R&D center in the Western West Lake residence, contributing to Vietnam’s sustainable development. Other than the investments in the electronics manufacturing industry, Samsung is also enhancing cooperation with Vietnam’s core enterprises, such as Samsung SDS acquiring CMC shares…

- Please share with us more about this R&D center?

Mr. Choi Joo Ho: In 2008, Samsung began the construction of our factory in Vietnam. Over the past 10 years, we’ve only focused on the manufacturing field, as these factories have become the corporation’s global manufacturing hubs.

Trung tâm R&D mới của Samsung dự kiến sẽ được khởi công vào năm 2020
In the next 10 years, along with manufacturing, we will also focus on the R&D field. Construction of the R&D hub in Western West Lake is expected to start in early 2020 and be completed by 2022. The number of employees working at this R&D center will increase from the current 2,200 to 3,000.

We will develop the necessary high-quality human resources to develop new technologies such as 5G, AI and Big Data, as well as investing in infrastructure. We expect this center to contribute to the general development of Vietnam’s IT sector and the economy.

- To become a “hub”, human resources are a key factor. How do you think about the Vietnamese engineers working at SVMC?

Mr. Choi Joo Ho: I can affirm that the level of Vietnamese engineers is on par with other Samsung R&D centers across the world, such as South Korea and India.

For example, every single engineer at Samsung must possess a certificate at a certain level, and all the Vietnamese engineers have achieved that high level.

Despite only opening 7 years ago, SVMC has garnered attention from the parent company and has been assigned core projects, including the smartphone J series and A series. There are times that SVMC engineers fully manage and direct cooperation between other R&D centers around the world.

- What will Samsung Vietnam do to attract talented people in this field?

Mr. Choi Joo Ho: You have asked a very important question. It takes quality human resources to fully develop a R&D center.

Currently, Samsung Vietnam is executing the Samsung Talent program, in cooperation with 9 Vietnamese universities. Every year, we would give scholarships to 120 excellent students (including an internship opportunity). We will also organize algorithm courses for students.

Following their graduation, these students can come to work at Samsung Vietnam’s R&D center with attractive renumeration and working environment, fostering capacity and development potential. This is Samsung Vietnam’s core development motivation. Other than that, the Global Mobility program is also being conducted, as Vietnam’s elite R&D personnel will be assigned to work at Samsung’s R&D center in Korea for 6 months to 1 year to garner global experience and enhance their own development.

Other than that, we are also conducting a demo program at the R&D center called “Job market”, so our employees can select the most suitable positions for their passions and skills.

- Other than R&D, will Samsung continue to develop new factories in Vietnam?

Mr. Choi Joo Ho: For the past 10 years, Samsung has focused on developing complete products such as mobile phones, home appliances and producing core components such as cameras, displays and batteries.

We have successfully disbursed 94% of the total 17.3 billion USD of registered capital to the Vietnamese government. Therefore, in the near future, we will continue to stabilize the established system, enhancing our global competitiveness through productivity and quality.

However, we also need to upgrade our technologies and machinery to adapt to new procedures. Therefore, despite not constructing a giant factory, we will continue to invest in new production lines. For example, we have constructed a 5G network production line at the Bac Ninh factory and registered an extra 120 million USD in investment capital to manufacture lenses – an important component for mobile phones at Samsung Electro-Mechanics Vietnam, and this production line is expected to come into operation in November.



- Thank you very much!

As we concluded our interview, the clock stroke 12. Mr. Choi Joo Ho politely invited us to stay for lunch. And, what surprised me the most was the captain himself also queued in line with other employees at the canteen, patiently waiting for his turn to get his food, and casually joined his employees at the dining table…

Powered by VietnamPlus.

“Captain” Choi Joo Ho: “Vietnam will be Samsung’s R&D center” | EMagazine | Vietnam+ (VietnamPlus)

In contrast to the common stereotype of a strict CEO, who has hundreds of thousands of employees at his disposal (note below: Samsung does not call their employees workers, but rather employees, including production and office workers).

www.vietnamplus.vn

 

[Viva_vietnamm]

TURNING VIETNAM INTO A R&D HUB OF SAMSUNG​

- What are Samsung Vietnam’s goals in the near future?

Mr. Choi Joo Ho: We aim to create the most advanced products. Samsung will strive to overcome difficulties and adapt to changes in the market to retain our current number 1 position.

In Vietnam, to return the love afforded us by the Government and the people, Samsung is planning its next breakthrough: constructing an R&D center in the Western West Lake residence, contributing to Vietnam’s sustainable development. Other than the investments in the electronics manufacturing industry, Samsung is also enhancing cooperation with Vietnam’s core enterprises, such as Samsung SDS acquiring CMC shares…

- Please share with us more about this R&D center?

Mr. Choi Joo Ho: In 2008, Samsung began the construction of our factory in Vietnam. Over the past 10 years, we’ve only focused on the manufacturing field, as these factories have become the corporation’s global manufacturing hubs.

Trung tâm R&D mới của Samsung dự kiến sẽ được khởi công vào năm 2020
In the next 10 years, along with manufacturing, we will also focus on the R&D field. Construction of the R&D hub in Western West Lake is expected to start in early 2020 and be completed by 2022. The number of employees working at this R&D center will increase from the current 2,200 to 3,000.

We will develop the necessary high-quality human resources to develop new technologies such as 5G, AI and Big Data, as well as investing in infrastructure. We expect this center to contribute to the general development of Vietnam’s IT sector and the economy.

- To become a “hub”, human resources are a key factor. How do you think about the Vietnamese engineers working at SVMC?

Mr. Choi Joo Ho: I can affirm that the level of Vietnamese engineers is on par with other Samsung R&D centers across the world, such as South Korea and India.

For example, every single engineer at Samsung must possess a certificate at a certain level, and all the Vietnamese engineers have achieved that high level.

Despite only opening 7 years ago, SVMC has garnered attention from the parent company and has been assigned core projects, including the smartphone J series and A series. There are times that SVMC engineers fully manage and direct cooperation between other R&D centers around the world.

- What will Samsung Vietnam do to attract talented people in this field?

Mr. Choi Joo Ho: You have asked a very important question. It takes quality human resources to fully develop a R&D center.

Currently, Samsung Vietnam is executing the Samsung Talent program, in cooperation with 9 Vietnamese universities. Every year, we would give scholarships to 120 excellent students (including an internship opportunity). We will also organize algorithm courses for students.

Following their graduation, these students can come to work at Samsung Vietnam’s R&D center with attractive renumeration and working environment, fostering capacity and development potential. This is Samsung Vietnam’s core development motivation. Other than that, the Global Mobility program is also being conducted, as Vietnam’s elite R&D personnel will be assigned to work at Samsung’s R&D center in Korea for 6 months to 1 year to garner global experience and enhance their own development.

Other than that, we are also conducting a demo program at the R&D center called “Job market”, so our employees can select the most suitable positions for their passions and skills.

- Other than R&D, will Samsung continue to develop new factories in Vietnam?

Mr. Choi Joo Ho: For the past 10 years, Samsung has focused on developing complete products such as mobile phones, home appliances and producing core components such as cameras, displays and batteries.

We have successfully disbursed 94% of the total 17.3 billion USD of registered capital to the Vietnamese government. Therefore, in the near future, we will continue to stabilize the established system, enhancing our global competitiveness through productivity and quality.

However, we also need to upgrade our technologies and machinery to adapt to new procedures. Therefore, despite not constructing a giant factory, we will continue to invest in new production lines. For example, we have constructed a 5G network production line at the Bac Ninh factory and registered an extra 120 million USD in investment capital to manufacture lenses – an important component for mobile phones at Samsung Electro-Mechanics Vietnam, and this production line is expected to come into operation in November.



- Thank you very much!

As we concluded our interview, the clock stroke 12. Mr. Choi Joo Ho politely invited us to stay for lunch. And, what surprised me the most was the captain himself also queued in line with other employees at the canteen, patiently waiting for his turn to get his food, and casually joined his employees at the dining table…

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“Captain” Choi Joo Ho: “Vietnam will be Samsung’s R&D center” | EMagazine | Vietnam+ (VietnamPlus)

In contrast to the common stereotype of a strict CEO, who has hundreds of thousands of employees at his disposal (note below: Samsung does not call their employees workers, but rather employees, including production and office workers).

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[Viva_vietnamm]

• Vietnam’s first quarter exports reached US$88.58 billion, up by 12.9 per cent from the previous year
• Chinese state media compared the exports in the first three months of the year to China’s main export hub of Shenzhen

Vietnam’s first quarter exports reached US$88.58 billion, up by 12.9 per cent from the previous year, according to Vietnam’s Ministry of Industry and Trade. Photo: Reuters

Worries that Vietnam could replace China to become the new manufacturing powerhouse are overstated, according to analysts, despite lockdowns and stringent coronavirus restrictions shifting orders to Southeast Asia.
Headlines have been stirring up controversy in the world’s second largest economy since Vietnam’s first quarter exports reached US$88.58 billion, up by 12.9 per cent from the previous year, according to Vietnam’s Ministry of Industry and Trade.

Chinese state media reports converted the value of Vietnam’s first quarter exports to 564.8 billion yuan at the time, exceeding the 407.6 billion yuan shipped from China’s main export hub of Shenzhen in the first three months of the year.

China is worried about losing its title of "world factory" amid increasing external pressures, including the US-China trade war and the war in Ukraine.

These geopolitical conflicts are forcing countries to re-evaluate the risks arising from production chains being too dependent or concentrated in certain locations.

Recognizing the inevitability of industries flocking to Southeast Asia to take advantage of low costs, many Chinese experts assert that their country should consider upgrading its industrial chain essential.


Tang Jie, an economics professor and former deputy mayor of Shenzhen, said industries would shift to Southeast Asia as the economic development gap between China and its neighbors widens.

In addition to Vietnam, Indonesia and India will also be popular destinations due to the availability of cheap labor.

"Vietnam's export industry is closely linked to the Pearl River Delta as well as to our domestic industrial and production chain, so our exports also benefit," said Mr. Peng Peng, director. executive director of the Guangdong Reform Association (an advisory organization affiliated with the provincial government), thinks that if Vietnam's exports contribute to China's industries, it is also a way to avoid trade disputes. commercial.

In addition, Mr. Peng said that comparing Vietnam with Shenzhen is somewhat lame. The population of Vietnam is about 78% of Guangdong province, much larger than Shenzhen.

Meanwhile, economist Yao Yang of Peking University said that Vietnam's increased production capacity has not yet affected China's title of "world factory", at least within 30 years. next year.

https://www.scmp.com/economy/economic-indicators/article/3182828/chinas-worlds-factory-tag-threatened-vietnam-theres

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