New frontiers of cooperation between Vietnam and RoK to be promoted
VOV.VN - Vietnamese Prime Minister Pham Minh Chinh expected that Vietnam and the RoK would explore and promote new frontiers of cooperation during a working breakfast with leaders of the RoK’s major corporations operating in the fields of industry, energy, finance, information technology, and medicine, among others, during a working breakfast in Seoul on July 1.
The working breakfast was attended by leaders of Hyundai Motors, GS Energy, Doosan Enerbility, KB Financial Group, Hana Financial Group, Shinhan Bank, MB Bank, POSCO International, TKG Taekwang, Seegene Medical Foundation, and others.
Speaking at the function, Chinh, who is in Seoul for a working trip to the RoK, highlighted major milestones in Vietnam – RoK relations, saying after more than 30 years of their diplomacy, bilateral relations have never been better than they are today, becoming each other’s most important partners in many fields. The RoK is currently Vietnam’s largest foreign investor, second largest development assistance and tourism partner, and third largest labour and trade partner.
Last year saw their two-way trade turnover hit US$76.1 billion, and the two countries are striving to raise the figure to US$100 billion next year and US$150 billion by 2030. The RoK has so far poured more than US$87 billion into nearly 10,000 projects in Vietnam.
Currently, there are about 100,000 Korean expatriates in Vietnam, while more than 270,000 Vietnamese nationals are residing in the RoK. The two countries also have more than 80,000 Korean-Vietnamese multicultural families.
The PM briefed the Korean CEOs on Vietnam’s economic development, saying despite global complications and fluctuations, Vietnam has maintained its macroeconomic stability, with inflation controlled, major balances guaranteed, and debts within limit.
He expected that Korean businesses would continue to expand investment cooperation in Vietnam to promote new frontiers of cooperation commensurate with the comprehensive strategic partnership between the two countries.
The Korean CEOs highly appreciated Vietnam’s business investment environment, saying they are cooperating and investing effectively in the country. They expressed their desires to continue their investment in fields such as energy transition, aircraft engine manufacturing, shipbuilding, big data, digital transformation, bank services, and health.
They also expected that the government of Vietnam would continue to reform administrative procedures, ensure stable and diverse power sources, and introduce policies to support the development of key industries, and human resources.
The Vietnamese PM for his part thanked the Korean CEOs for their goodwill and proposed that alongside traditional fields, the two sides increase cooperation in emerging fields such as digital economy, green economy, circular economy, sharing economy, knowledge economy, artificial intelligence, and other industries during the fourth industrial revolution.
He asked Korean corporations to continue assisting Vietnam with financial resources, infrastructure construction, and human resource training, while making recommendations regarding improving institutions and policies, as well as management capacity.
The Government of Vietnam always accompanies, supports and creates favourable conditions for foreign firms, including Korean firms, to invest and do business effectively and efficiently in the country, he assured the Korean CEOs.
