Digiworld, B2X form new joint venture

Officials and representatives of local companies participating in the “Samsung Sourcing Fair 2017” in Bac Ninh Province. (Photo: Samsung) Bac Ninh (VNS/VNA) - Samsung Vietnam has achieved a significant breakthrough in increasing the localisation rate of its products from 35 percent in 2014 to 57 percent at present. Participants of the “Samsung Sourcing Fair 2017” also heard that the number of Vietnamese enterprises joining Samsung’s supply chain has increased dramatically. A total of 215 enterprises, including 25 tier-1 vendors and 190 tier-2 vendors, are currently participating in the supply chain for Samsung’s factories in Vietnam, which include Samsung Electronics Vietnam (SEV), Samsung Electronics Vietnam Thai Nguyen (SEVT), SEHC Complex (HCM City), Samsung Display Vietnam (Bac Ninh), Samsung SDI Vietnam (Bac Ninh) and Samsung Electro-Mechanics Vietnam (Thai Nguyen). The company expects its tier-1 vendors to increase to 29 in 2017. The annual workshop and exhibition, which has been held in Vietnam since 2014, aims to discover and connect domestic component suppliers with Samsung. It seeks ways to enhance the competitiveness of hi-tech suppliers in particular and boost development of Vietnam’s parts manufacturing industry in general. This year’s event, organised in the northern province of Bac Ninh on July 26, drew the participation of 26 enterprises that are expected to act as core agents for support industry development in Vietnam. Company officials noted that there were 15 totally new firms nominated by the ministries and enterprises associations. Speaking at the event, Shim Won Hwan, chairman…... [read more]

Participants of the “Samsung Sourcing Fair 2017” also heard that the number of Vietnamese enterprises joining Samsung’s supply chain has increased dramatically. A total of 215 enterprises, including 25 tier-1 vendors and 190 tier-2 vendors, are currently participating in the supply chain for Samsung’s factories in Vietnam, which include Samsung Electronics Vietnam (SEV), Samsung Electronics Vietnam Thai Nguyen (SEVT), SEHC Complex (HCM City), Samsung Display Vietnam (Bac Ninh), Samsung SDI Vietnam (Bac Ninh) and Samsung Electro-Mechanics Vietnam (Thai Nguyen). The company expects its tier-1 vendors to increase to 29 in 2017. The annual workshop and exhibition, which has been held in Vietnam since 2014, aims to discover and connect domestic component suppliers with Samsung.  It seeks ways to enhance the competitiveness of hi-tech suppliers in particular and boost development of Vietnam’s parts manufacturing industry in general. This year’s event, organised in the northern province of Bac Ninh, drew the participation of 26 enterprises that are expected to act as core agents for support industry development in Vietnam. Company officials noted that there were 15 totally new firms nominated by the ministries and enterprises associations. Speaking at the event, Shim Won Hwan, chairman of Samsung Vietnam Complex, said the exhibition on supporting industry has been considered the first official connection between Samsung and Vietnamese enterprises, in a series of activities to assist parts suppliers. “Enthusiastic participation along with great determination of potential businesses in this 4th event gave us impetus to continue implementing…... [read more]

The report released by the Foreign Investment Agency (FIA), of the Ministry of Planning and Investment, showed that the RoK had 583 new projects with total registered capital of US$2.3 billion, and 257 expanded projects in the 10-month period with total registered capital of US$3.9 billion. Most of these projects were foreign direct investment (FDI) projects, the report revealed. Malaysia was the second largest investor with total investment of US$2.5 billion, followed by Japan and the United Kingdom, with total investments of US$1.48 billion and US$1.27 billion, respectively. The Republic of Koreans invested in 16 sectors, mainly in processing and manufacturing industries, with total investment of US$5.63 billion, or 90.3 % of their registered capital, during the period. Electrical production and supply industry was the second largest field, with US$200 million total investment, accounting for 3.2 % of the RoK capital. As for the locations, they invested in 41 provinces in Vietnam during the first 10 months. The northern province of Bac Ninh attracted most of the RoK investment in the reviewed time, with US$3.33 billion, followed by southern Dong Nai province with US$401.9 million and northern Hai Phong province, with US$305.7 million. In the first 10 months, Vietnam attracted US$19.29 billion of FDI projects, a year–on–year increase of 40.8 %. Meanwhile, FDI disbursement posted a 16.3 % increase to US$11.8 billion, reported the FIA. Finance ministry The finance ministry has refused the proposal of Samsung Electronics Vietnam Company requesting preferential corporate income tax treatment for some of its projects.…... [read more]

Funding for the project will be sourced from the RoK Government’s development aid channelled through the Korea International Cooperation Agency (KOICA). Kun Yang, the Chairman of the RoK board, made the recommendation during a working session in Hanoi on November 24 with his Vietnamese counterpart Huynh Phong Tranh. He highlighted major developments of cooperative relations between the RoK and Vietnam since the two countries established diplomatic ties 20 years ago. He expressed his belief that bilateral cooperation will be further strengthened in other areas of culture and sports alongside economics. Chief General Inspector Tranh appreciated his guest’s proposal and hoped the project would enhance Vietnamese inspectors’ skills, especially information technology application in settling people’s petitions. Both host and guest shared experience in inspection, aiming to increase the efficiency of State management in their respective countries. Kun is scheduled to pay a courtesy visit to Prime Minister Nguyen Tan Dung, and work with the State Audit of Vietnam. He will also hold working sessions with the provincial inspection agencies in Quang Ninh and Bac Ninh, and make a fact-finding tour of Samsung Electronics Vietnam Co. Ltd. in Bac Ninh.... [read more]

In Bac Ninh, SE will coordinate with Global Civic Sharing and local authorities to organise information technology (IT) training courses for secondary students and teachers. SE staff in coordination with the Korea International Cooperation Agency (KOICA) and the National Economics and Technique College will organise a series of activities for local students, such as providing IT training courses, building a Samsung-KOICA online study centre equipped with modern facilities and launching cultural and cuisine festivals Shim Wonhwan, Samsung Complex Director General said that since Samsung Electronics Vietnam first began operations on 2009, its activities has been focused not only on business and production but on education and environmental protection.... [read more]

Samsung to back 12 local suppliers this year Thuy Dung HANOI – Samsung will single out 12 local firms this year to give technical assistance so that they can become suppliers of South Korea’s electronics giant. To date, 14 local firms have received technical support from Samsung since the program was launched in September 2015. Under the program, Samsung has dispatched its professionals to 14 Vietnamese enterprises supplying parts and components for the corporation in order to offer its intensive expertise since September 2015. In particular, domestic firms which are part of Samsung’s global supply chain will be selected to participate in its training and supporting program aimed at enhancing the capacity, reducing the inventory and improve the production processes in three months. Five local enterprises were picked in the latest training program, including two in the north and three in the south. Dang Quang Khoi, general director of An Lap Plastic Co Ltd. as Samsung’s second-tier supplier producing plastic products, said the company’s error rate had been dropped significantly, its mechanical systems had been improved properly, and its inventory costs had been reduced by 31% after three months. Hoang Anh Tuan, chairman of Viet Hung Plastic Co Ltd specializing in printing and packaging products, said his firm’s product error rate had been reduced to the minimum from 1.7% to 0.6%. The quality of plastics had been enhanced thoroughly, and the labor productivity had been increased by 73%. Samsung has plans to support 12 Vietnamese suppliers this year. The Korean…... [read more]

Deputy Minister of Finance Do Hoang Anh Tuan said that the conference, organised annually, aimed to tighten the connection between the Government's tax and customs department and Korean firms in Vietnam. Tuan said the Korean business community was the largest FDI business community in Vietnam with considerable contribution to the country's socio-economic development. He pledged that the Government of Vietnam would strive to create favourable conditions for the business community in general and for Korean firms in particular. According to Jun Dae Joo, Ambassador of the Republic of Korea to Vietnam, quoted by the Ministry of Finance's e-portal, the government listening to difficulties encountered by firms was of great importance as the business climate was one among the major factors to be considered when businesses chose destinations for their investments. Joo believed that the two-way trade between Korea and Vietnam would hit USUS$70 billion by 2020. Last year, the bilateral trade reached a record value of US$30 billion. At the conference, the General Department of Customs answered queries of Korean firms about corporation income tax, individual income tax, and value added tax, apart from tax refunds and tax reductions. Vietnam strove to cut tax filing times by 410 hours, with online-tax fillings applied in all 63 provinces, to date. Rumours denied The rumour that Samsung is redirecting its investments to Thai Nguyen Province to evade tax in Bac Ninh Province is totally untrue, said Samsung Electronics Vietnam (SEV). In a document sent to Vietnam News from SEV yesterday, the company…... [read more]

A land lease was signed on February 6 by Samsung and its Vietnamese partner to carry out the Samsung Hi-tech Consortium project in Yen Binh Industrial Zone. Provincial leaders appreciated the company’s decision to invest in the region and asked local departments, agencies and authorities to create favourable conditions for the company to implement the project. This is Samsung Electronics Vietnam’s second plant in Vietnam. Its first plant was built in 2009 in Yen Phong Industrial Zone, northern Bac Ninh province, manufacturing 11 million products per month and employing 24,000 workers. When its second plant in Thai Nguyen enters operation, Vietnam will become Samsung’s world biggest hand device producer for exports.... [read more]

Of the total, US$4.9 billion came from 341 newly-registered projects, and the remainder was from 121 operational projects that registered to increase their capital, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment. FDI projects disbursed US$3.75 billion during the reviewed period, a year-on-year increase of 3.9 percent. Foreign businesses focused most of their investment in 18 fields. The processing and manufacturing industries took the lead, attracting a total of US$7.4 billion. They were followed by real estate, retail and wholesale, and maintenance. The reviewed period’s major projects include the Nghi Son oil refinery project with US$2.8 billion in additional capital, Singapore’s Samsung Electronics Vietnam assembly and manufacturing project in Thai Nguyen province (US$2 billion), and Russia’s Bus Industrial Centre manufacturing and assembly project in Binh Dinh province (US$1 billion). The FIA said Japan ranked first among 37 foreign investors in Vietnam, pouring US$3.6 billion into the country. Singapore came in second with US$2.3 billion, and Russia was placed third with US$1.1 billion.... [read more]

The article said Samsung Electronics Vietnam Co. Ltd (SEV) controls 20 percent of the world’s market share and plans to produce 240 million smart phones in 2013. These grand ambitions reveal Vietnam is hoping to usurp China as the world’s largest smart phone producer as soon as possible. The SEV’s plan has not only gifted Vietnam’s electronics industry trickledown benefits, but also generated thousands of jobs and helped infrastructure development. SEV’s factories are all located in the northern region, facilitating the import and export of components and goods to and from important markets like Japan, China, and Taiwan. According to the US-based International Data Corporation, international vendors are expected to ship 918.6 million smartphones in 2013. , China currently remains the world leader, producing around 50 percent of the world’s smartphones. Samsung’s plan to boost its Vietnamese production activities in indicates the country could take over China’s position in the future.... [read more]




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