SEOUL (ANN/VIETNAM NEWS) – The Vietnamese Government is committed to listening to, supporting, and providing the best possible conditions for foreign investors, particularly those from South Korea, to operate smoothly, effectively, and sustainably in Vietnam, Prime Minister Pham Minh Chinh pledged at a working breakfast in Seoul on Monday with leaders of major South Korean businesses in industry, energy, finance, IT, healthcare, and pharmacy sectors.
During the session, PM Chinh highlighted that the Vietnam-South Korea relationship is at its peak after 30 years of establishment. He noted that both nations have become each other’s crucial partners in various fields.
Last year, bilateral trade reached USD76.1 billion, and South Korea’s direct investment in Vietnam totalled USD87 billion with about 10,000 projects.
The Prime Minister briefed participants on Vietnam’s development strategies, external and defence policies, as well as its policies on cultural development, social welfare, political system building, and anti-corruption.
Despite global challenges, he emphasised that Vietnam has maintained macroeconomic stability, controlled inflation, and ensured major economic balances, with government and foreign debts under control and robust economic growth.
He expressed his hope that South Korean businesses will continue to expand cooperation and investment activities in Vietnam to fully utilise the comprehensive strategic partnership between the two countries, aiming to boost trade to USD100 billion by 2025 and USD150 billion by 2030.
Leaders of South Korean firms such as Hyundai Motors, GS Energy, Doosan Enerbility, KB Financial Group, Hana Financial Group, Shinhan Bank, MB Bank, POSCO International, TKG Taekwang, and Seegene Medical Foundation praised Vietnam’s investment environment.
They reported enjoying effective cooperation and business operations in Vietnam and showed interest in continuing to invest in areas such as renewable energy, LNG energy, aircraft engine manufacturing, shipbuilding, data centre building, public service digitalisation, banking, and healthcare.
The business executives expressed hopes that Vietnamese ministries and agencies will continue to promote administrative reforms, ensure a stable and diverse power supply, and provide support with labour and land rent issues.
PM Chinh encouraged expanding collaboration to new areas such as the digital economy, green economy, circular economy, sharing economy, knowledge-based economy, and emerging industries like artificial intelligence and areas related to the Fourth Industrial Revolution.
He urged South Korean firms to continue supporting Vietnam in finance, infrastructure development, institutional and policy improvements, high-quality human resources training, and smart governance.
He also proposed that South Korean investors engage in social welfare and charity activities in Vietnam and assist Vietnamese enterprises in joining South Korean supply chains and global value chains.
The Prime Minister expressed confidence that with the motto of “three together” – listening and understanding together; sharing visions and actions together; and working, benefiting, winning, and developing together – and the spirit of “harmonised interests, shared risks,” Vietnamese and South Korean enterprises will make significant contributions to the growth of both nations and improve the lives of their people.
He instructed Vietnamese ministries, sectors, and localities to take note of all opinions expressed during the session, especially regarding investment attraction, business environment improvement, and competitiveness enhancement, for further consideration.
