Vietnam seeks co-operation with RoK in new strategic areas

The trip came following the Invitation Letter of the Korean Chamber of Commerce and Industry (KCCI) under the plan on the Vietnamese National Energy Development Strategy until 2030, with a view forward to 2045 and the project to develop the Vietnamese semiconductor industry.

During the trip, Minister Nguyen Chi Dung held a host of working sessions with Korean agencies, organisations, and businesses in a bid to boost ties in innovation and technology and to promote greater investment attraction for projects in these fields.

In order to exchange experience and attract greater resources to develop the semiconductor, hydrogen, and LNG industries, Minister Dung paid working visits to a memory chip factory in Icheon city of SK Hynix, the second largest memory chip producer in the world; LNG storage facility which has a capacity of 10.8 million tonnes per year in Boryeong city; the world’s largest liquid hydrogen plant in Incheon city and SK Group’s 412 megawatt (MW) LNG-fueled gas power plant in Wirye city; and Samsung Electronics' Samsung Digital City in Suwon city .

At the working sessions held with senior leaders of SK Group and Samsung, Minister Dung expressed his hope that SK and Samsung groups, both of which have a long history of development and advanced technology, will share their experience and support whilst accompanying the Vietnamese side in developing its own semiconductor industry. This is along with contributing to digital transformation, green energy, the green economy, and the circular economy, while continuing to co-operate with the nation to form value chains and research and development ecosystems to bring strategic products to the international market.

In order to exchange experience and attract more resources for green agriculture development, Minister Dung visited Garak Market, with the site being the RoK's first and largest agricultural wholesale market. Learning and implementing a wholesale market model similar to Garak market in Vietnam will help to build an effective, transparent, and professional distribution model whilst bringing many practical benefits to farmers.

Also during the business trip, Minister Dung had a meeting with key representatives of the Vietnam Innovation Network in Korea (VINK) to connect, promote co-operation, and support resources in the field of innovation and technology.

Although it has only been established for just over two years, the VINK has acted as an introduction for scientists, startups, and inventors of Vietnamese origin to know the Vietnam Innovation Network and participate more widely in this network.

The National Innovation Center (NIC) under the Ministry of Planning and Investment is the sponsoring agency and is also the direct focal point to support and connect both ideas and projects related to the country when partners return.

​At working sessions, Minister Dung always emphasized the Vietnamese Government's commitment to creating favourable conditions for Korean businesses to run long-term business effectively and sustainably in the nation.

The Ministry of Planning and Investment is the focal investment management agency of the Vietnamese Government and pledges to always share and accompany Korean businesses, whilst closely co-ordinating with specialised ministries to quickly resolve problems and difficulties.

In addition, the nation will continue to implement synchronous solutions to further improve the investment and business environment, prepare conditions to attract investment, and develop supply chains, he added.