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VIETNAM SUPPLY CHAIN FORUM 2018
Fri - 17/8/2018
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2018 MANAGEMENT TRAINEE - DHL SUPPLY CHAIN VIETNAM
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SAMSUNG LOOKS TO BOOST LOCAL PARTS SUPPLIERS IN VIETNAM

2017-11-30 17:42:59

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SAMSUNG LOOKS TO BOOST LOCAL PARTS SUPPLIERS IN VIETNAM

 

Tech company to foster country's supporting industries for smartphones

 

A bus with an image of the Galaxy Note 7 takes employees to the Samsung Electronics smartphone factory in Vietnam's Thai Nguyen Province. © Reuters

 

HANOI -- Samsung Electronics intends to roughly double its local suppliers of smartphone parts in Vietnam to around 50 companies by 2020, an executive revealed at an event in Ho Chi Minh City last week.

 

About 30% of the Samsung mobile phones made worldwide are built at its two factory complexes in Vietnam's northern provinces of Bac Ninh and Thai Nguyen. Samsung phones account for one-fifth of total Vietnamese exports.

Hanoi has urged the South Korean company to procure more components locally. But Vietnam has yet to develop support industries around smartphones and other fields, and manufacturers there generally have low rates of local procurement.

Samsung plans to help make Vietnamese companies more competitive through technology tie-ups and other cooperation so that the country's suppliers can produce components that meet the necessary standards.

Samsung sourced 57% of core components locally this year compared with 35% in 2014. Vietnamese Prime Minister Nguyen Xuan Phuc expressed gratitude to Samsung for increasing local procurement when he visited the huge Thai Nguyen factory in July.

The tech company's Vietnamese operations are large enough to sway the country's gross domestic product. Vietnam's growth rate slowed last year after some Samsung smartphones began to catch fire.