Vietnam’s Deputy Prime Minister Tran Hong Ha urged Samsung, the South Korean tech giant, to maintain its leading role in Vietnam’s shift towards a digital and green economy, during a meeting with Choi Joo Ho, the general director of Samsung Vietnam, in Hanoi on Monday.

“Vietnam will accompany and encourage businesses to step up green transition and reduce carbon footprints through developing regulations on emission limits, carbon credit market, carbon tax, green finance and land incentives,” Ha commented.

He encouraged foreign companies, including Samsung Vietnam, to recommend solutions to the Vietnamese government for overcoming obstacles in implementing the Direct Power Purchase Agreement (DPPA) regulations, aiming to ensure the electricity market operates according to market principles, The Investor reports.

Samsung Vietnam was also urged to continue investing in its research and development centre and to advance technology transfer in emerging sectors such as semiconductors.

Subsequently, Choi, praised the Vietnamese government for issuing Decree No. 80, which outlines the Direct Power Purchase Agreement mechanism between renewable energy producers and large customers.

He expressed his company's hope for more favourable conditions to expand the use of renewable energy at reasonable costs, thereby contributing to Vietnam's commitment to achieving net-zero emissions by 2050. 

Updating the host on his company's operations, Choi mentioned that Samsung Vietnam operates six production facilities and one R&D centre, with a total investment of $22.8 billion. 

From January to July, the company exported products worth $33.5 billion, marking a 5% increase compared to the previous year.