SK Group highly regarded for contributions to Vietnam’s economic development

VOV.VN - Prime Minister Nguyen Xuan Phuc has appreciated the Republic of Korea (RoK)’s reputable SK Group for its investments in an effort to help Vietnam spur economic development, thereby contributing to the strategic partnership between the two nations.

sk group highly regarded for contributions to vietnam’s economic development hinh 0
 Prime Minister Nguyen Xuan Phuc welcomes Chairman of the Republic of Korea (RoK)'s SK Group Chey Tae-won (L).
At a reception in Hanoi on November 8 for Chairman of the SK Group Chey Tae-won, PM Phuc asked the SK Group, a multi-sectoral corporation operating in the areas of energy, telecommunications, information technology, to continue supporting the Vietnamese government’s economic development orientations, especially in the face of the fourth industrial revolution and the development of an e-government in Vietnam.

Chey Tae-won, said his group has carried out a number of new projects in Vietnam, including its investment in Masan Vietnam, and desires to invest in other private groups in the country.

SK Group also pays attention to Vietnam’s equitized State-owned enterprises, including those planning for equitisation, environmental protection and social activities in the country, he noted. 

The SK Group Chairman pledged his group’s best efforts in its business fields in Vietnam as a contribution to boosting the country’s socio-economic development as well as bilateral ties. 

He said the group wishes to put forward ideas for the development of more Vietnamese SMEs towards reaching 1 million businesses by 2020, and propose measures for environmental protection by promoting environmental treatment technologies in Vietnam.

Appreciating the Group's recent activities in Vietnam and the ideas proposed by Chey Tae-won, the PM said he wants the Group to realize these ideas.

The Vietnamese Government has assigned the Ministry of Planning and Investment to study a national strategy amid revolution 4.0, Phuc said, while asking the SK Group to work together with Vietnamese relevant agencies on the strategy. The PM hailed the group’s support for the construction of a national innovation centre, an important part in Vietnam’s industrial revolution strategy 4.0. 

The cabinet leader told his guest that the Vietnamese government is expediting equitization and divestment in major and effective enterprises, which hold a large market share in Vietnam, primarily in the fields of telecommunications, chemicals, processing industry, beverages, aviation and energy.

During the equitization process, the Vietnamese Government always incentivizes foreign investors, including the SK Group with strong capability in terms of finance, technology, brand and market, to engage in the process as strategic investors, he said. 

Prime Minister stated that SK Group has a tremendous capacity for finance and creative innovation. As Vietnam is home to nearly 700,000 enterprises, he urged SK Group connect Vietnamese small and medium-sized enterprises via the global market and value chains, at the same time promoting investment in fields of its strength such as semi-conductors, smart urban development, petrochemicals, oil and gas, renewable energy, energy saving and information technology. 

The Vietnamese Government is sparing no effort to improve the business environment, thus offering favourable conditions for investors, including those from the RoK. 

The PM also applauded Korean investors for having retained their place as the biggest foreign investor in Vietnam for years, and wished them along with SK Group to continue expanding their business operations in Vietnam.