SEOUL, KOREA - Samsung Electronics joined hands with the Vietnamese government to foster the local parts industry.This is the first time among overseas companies in Vietnam to take initiatives in cultivating local parts industry.
According to industry sources on September 11, Samsung Electronics reviewed the potential to cooperate with about 50 local electronics companies, guided by Vietnam’s Ministry of Planning and Investment.
The Korean company plans to promote the localization of about 90 electronic items and ask the local companies to actively participate in its efforts.
Samsung Electronics plans to speed up the transfer of technologies to local companies, with the number of local companies participating as Samsung’s partners likely to increase sharply in the future.As of August 2014, Samsung’s parts localization ratio is estimated at around 39 percent.