Asia Tech Wire (May 10) -- South Korea's Samsung plans to add around $1 billion a year in its investment in Vietnam.

Vietnamese Prime Minister Pham Minh Chinh met with Samsung's Chief Financial Officer Hark-Kyu Park, who is on a working visit to Vietnam, at the government office on Thursday.

During the meeting, Pham called on the South Korean firm to consider Vietnam as a strategic stronghold for its manufacturing and exports.

Park noted that Samsung's investment in Vietnam has totaled $22.4 billion so far.

Samsung plans to add about $1 billion a year to its investment in the Southeast Asian country, he added.

Meanwhile, the latest market news suggested that Samsung's exports from Vietnam could grow by 10% in 2024.

Prior to this, the two sides also met in Hanoi, the Vietnamese capital, at the end of October last year.