Samsung Warns Vietnam’s Proposed Tax Reforms Could Deter Foreign Investment
Samsung Electronics has raised concerns over Vietnam's draft amendments to its high-tech law, which WOULD phase out preferential tax and land-use incentives for foreign manufacturers. The South Korean giant, which produces 60% of its global smartphones in Vietnam, argues these changes could undermine the country's appeal as an investment destination.
The proposed reforms threaten to eliminate critical benefits that have attracted multinational corporations, including duty exemptions and affordable land access. Samsung's operations contribute over 10% of Vietnam's total exports, making its warning a significant challenge to policymakers.
Korean business leaders contend that removing these incentives would dramatically increase operational costs, potentially stifling new projects and factory expansions. The Vietnam National Assembly is expected to vote on the amendments in December.
