Speaker Lim recalled the Vietnamese Party General Secretary Nong Duc Manh’s visit to the RoK last year during which many cooperation agreements were signed, and said that the two legislative bodies play an important role in realising these agreements. 

“The relationship between the two governments and two legislative bodies have developed well and they should increase the exchange of visits to share experiences,” said Mr Lim.

Mr Trong spoke of the traditional cooperation and cultural similarities between Vietnam and the RoK and affirmed Vietnam’s determination to develop the friendship and multifaceted cooperation with the RoK.

He briefed his host on Vietnam’s socio-economic development, the Vietnam National Assembly’s operation and said that the country has achieved important achievements during the Doi Moi (Renewal) process, which have been acknowledged by the international community.

He praised the two countries’ efforts in implementing a signed agreement to build a comprehensive partnership between Vietnam and the RoK in the 21^st century and affirmed that the RoK is an important economic and trade partner of Vietnam.

The Vietnamese legislative leader noted that currently the North-East Asian country is a leading foreign investor in Vietnam, with 1,600 projects operating in the country. It is also one of the biggest providers of official development assistance to Vietnam. About 45,000 Vietnamese guest workers are working in the RoK, while 40,000 RoK nationals are working and studying in Vietnam. Two-way trade hit more than US$7 billion last year and about 500,000 RoK tourists visited Vietnam.

“These figures are testimony to the effective cooperation between the two countries,” said the two leaders.

They agreed to increase the exchange of visits at all levels to promote friendship and mutual understanding. They said the two legislative bodies should further support their governments’ efforts to boost bilateral cooperation in economics, trade, culture, education, health care and sports.

Mr Trong invited Mr Lim to visit Vietnam at an appropriate time and the invitation was accepted with pleasure.

Earlier in the morning, Mr Trong received Park Noh-soo, President of the RoK-Vietnam Friendship Association. He said that as the two countries are building the comprehensive partnership, the association should adopt specific and practical programmes to help the two people understand each other better. He expressed his belief that the association will help accelerate the implementation of RoK-funded projects in Vietnam, including those to build a new city on the two banks of the Red River in Hanoi and a 32-storey apartment-office and trade complex in Ho Chi Minh City.

Addressing the Vietnam-RoK business forum held the same day, Mr Trong reiterated Vietnam’s determination to accelerate administrative reforms, devise preferential policies and create favourable conditions for foreign businesses, including those from the RoK, to operate efficiently in Vietnam. 

He introduced the participants to major advantages in Vietnam, including political stability, a high economic growth and a young and abundant workforce, and said that during national industrialisation and modernisation process, Vietnam needs RoK investment in infrastructure construction, high-tech industries and human resources development.

He also witnessed the signing of a number of cooperation contracts between the two business circles.

Later, Mr Trong received the Presidents of Keang Nam and Daewoo Capital groups, who briefed on their plans to expand operation in Vietnam.