Deputy Prime Minister Nguyen Van Ninh made the assurance at a reception in Hanoi on September 25 for Kag-gyu Hwang, chief executive of international and new business planning at Lotte Group.

Ninh welcomed Lotte’s decision to increase its investments in Vietnam in recent times, which he said testifies to the group’s efficient operations in the country.

He took the opportunity to asked Lotte Group and other RoK companies to take an active part in social activities, such as poverty reduction, human resource development, and health care in Vietnam.

For his part, Hwang said RoK businesses are keen to explore investment opportunities in Vietnam for its stable investment climate and high prospects for steady economic growth in the region.

Lotte has poured nearly US$1 billion into investment projects in Vietnam, creating some 10,000 jobs for local people, said Hwang, adding that the group is planning to expand its operations in many cities and provinces of Vietnam, mostly in retail, transport, hotel and tourism services.

He briefed his host on the group’s social activities and pledged to get more involved in povety reduction and community development in Vietnam.