Such activities are part of Mr Dung’s official visit to the RoK for a high-level meeting to celebrate 20 years of ASEAN-RoK dialogue relations in Seoul.

At the meeting with leaders from RoK groups, Mr Dung said Vietnam-RoK relations have developed rapidly and effectively in various fields during the past 16 years since both countries established a comprehensive partnership for the 21^st century in 2001.

The RoK is seen as Vietnam’s most important partner as many major RoK businesses are investing in key areas and positively contributing to Vietnam’s socio-economic development, bringing practical benefits to both sides.

The Government leader praised RoK groups for their support and participation in social, cultural and charitable activities in Vietnam while affirming that the Vietnamese Government always creates favourable conditions for foreign enterprises including RoK entrepreneurs, to run their businesses effectively in Vietnam.

RoK group leaders voiced their determination to continue investment in Vietnam, especially in areas where RoK is strong such as finance, energy, steel, infrastructure, real estate and transport.

In his speech delivered at the Vietnam-RoK business forum, Mr Dung said RoK is one of Vietnam’s largest investors, running 2,150 projects with a total registered capital of nearly US$19 billion. However, Mr Dung said this is still not commensurate with the fine friendship, cooperation and available potential.

Mr Dung said his visit aims to compare notes with RoK leaders on bilateral relations in recent times and devise orientations and measures to make the relations more effective on a bilateral and multilateral basis, particularly bilateral cooperation in economics, investment, trade, tourism, labour, science and technology, culture, education, preferential loan provision and ODA funding.

After briefing RoK entrepreneurs on the potential and opportunities for investment and trade development in Vietnam, Mr Dung called on them to expand their investment and business activities in the country with a focus on projects involving in infrastructure development, sea port, energy, urban development, high technology, agriculture and rural development.

The Vietnamese Government will continue to implement necessary measures to improve the investment environment by developing infrastructure facilities and human resources, perfecting the legal system, and streamlining administrative procedures in order to attract more foreign investors, Mr Dung noted.

Prior to the opening of the Vietnam-RoK business forum, PM Dung together with leaders from both countries witnessed the signing of cooperation documents valued at billions of US dollars between Vietnamese and RoK businesses. The cooperation documents include a US$620 million project to build a steel factory with a capacity of 1 million tonnes/ year between the Vietnam Steel Corporation and RoK’s Posco Specialty Steel Co.,Ltd (Poscoss), a US$1.2 billion project to build the Thai Binh thermal power plant between the Vietnam Oil and Gas Corporation and Huyndai group and a US$600 million project to set up a joint venture between Ngoc Phuc Trade and Construction company Ltd and Daegun company.