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, he stressed.

He suggested foreign firms, including Samsung Vietnam, to propose the Government measures to remove bottlenecks while carrying out the Direct Power Purchase Agreement (DPPA) with a view to operate the electricity market in line with the market mechanism.

He also asked Samsung Vietnam to continue landing investments in research and development (R&D) centres and promoting technology transfer in emerging industry such as semiconductors.

Briefing the host on his company’s business operation over the past time, Choi said Samsung Vietnam, owning six production facilities and one R&D centre with total investment of US$22.8 billion, shipped US$33.5 billion worth of products abroad during January-July, up 5% year-on-year.

He spoke highly of the Vietnamese Government’s DPPA mechanism between renewable energy generators and large customers, and expressed his hope that the Government will create more favourable conditions so that Samsung Vietnam could increase the use of renewable power at rational costs, contributing to the country’s commitment to cut emissions to net zero by 2050.

Source: VOV