PM appeals for RoK investment into Vietnam’s priority areas
VOV.VN - Prime Minister Pham Minh Chinh called on businesses of the Republic of Korea (RoK) to expand investment cooperation in areas where the RoK has strengths and Vietnam has high demand, at a joint business forum in Seoul on July 1.
The priority areas, according to the PM, include high technology, electronics, semiconductors, artificial intelligence, infrastructure construction, energy transition (renewable and new energy), biotechnology, innovation, high-quality human resource training, and culture.
Chinh also called on Korean businesses 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.
He encouraged them to support Vietnamese businesses to participate in the value chain of Korean businesses as well as the global value chain, while actively engaging in social security.
The PM briefed delegates on Vietnam’s major economic development achievements in recent times, saying it has become one of the 40 largest economies in the world, in the top 20 trading countries, and in the top 100 strong national brand values globally. The country has signed 16 Free Trade Agreements (FTA) with bilateral and multilateral partners, including major world powers such as the United States, France, the United Kingdom, China, and the European Union.
In addition, Vietnam – RoK relations are developing strongly, creating more room for the two countries to foster their cooperation. 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.
Vietnam encourages and creates the best possible conditions for the foreign direct investment (FDI) sector to sustain long-term development, cooperate and compete in a healthy and equal manner, said the PM.
He assured them that Vietnam constantly improves the business investment environment so that investors can feel secure in doing business and operating in the long-term in the country.
He proposed that the two sides work closely together to create new values and to build each other’s increasingly powerful and prosperous countries.
In the presence of the Vietnamese Prime Minister, ministries, agencies and localities of the two countries exchanged 23 cooperation documents in fields such as investment, trade, energy transition, big data, biotechnology, industrial park construction, semiconductor technology, pharmacy, aviation, logistics, information technology, mechanical engineering, smart city model, and real estates.
More than 500 leaders of ministries, agencies and localities, as well leading economic corporations of the two countries attended the joint business forum.
