Vietnam’s Ministry of Finance confirmed on Thursday that it is collaborating with Samsung on a semiconductor project. “The ministry is coordinating with other ministries and agencies to finalise and submit to the Prime Minister the Memorandum of Understanding between the Government of Vietnam and Samsung Group regarding the group's semiconductor manufacturing project in Vietnam,” the ministry said in a statement.
A second source familiar with Samsung’s operations in Vietnam noted that the company has long indicated its intention to establish semiconductor activities in the country but did not provide specifics on timing or scale.
Samsung is already the largest foreign investor in Vietnam, with total investments exceeding $23 billion, according to the Vietnamese government. The planned semiconductor project underscores the company’s ongoing commitment to expanding its presence in Southeast Asia and supporting the country’s growing role in global tech supply chains.