Vietnamese and ROK leaders attend Vietnam-UK business forum

Vietnamese Prime Minister Pham Minh Chinh and President of the Republic of Korea Yoon Suk Yeol attended the Vietnam-Kingdom of Korea Business Forum in Hanoi on June 23, which brought together more than 500 delegates representing associations, corporations and companies from both countries.

In his remarks, President Yoon said that more than 8,000 Korean companies operate in Vietnam in the electrical, electronics and high-tech sectors. Many Vietnamese are learning Korean, and many Koreans are learning Vietnamese.

He suggested that both countries take their relationship to a new level, in particular by increasing bilateral trade to 150 billion US dollars by 2030. They should expand cooperation to other areas and remove any barriers that hinder this process.

According to him, Vietnam and the Republic of Korea are benefiting from free trade and need to protect and maintain these benefits in the future. For this reason, they must promote joint work in digital transformation, energy transition and renewable energy. The president hoped that companies from both countries would commit to concrete, practical and effective joint projects, and affirmed that in the future the two countries will continue to cooperate for development, and that this responsibility falls on their young generations.

In his speech, Premier Chinh thanked Korean friends for their partnership with Vietnam for development over the past three decades. He expressed his thanks to Korean companies for their commitment to invest in Vietnam in new fields.

He hoped that there would be progress in economic, trade and investment collaboration, with results three or four times higher than the current ones, towards the 60th anniversary of bilateral diplomatic ties.

In his remarks, President Yoon said that more than 8,000 Korean companies operate in Vietnam in the electrical, electronics and high-tech sectors. Many Vietnamese are learning Korean, and many Koreans are learning Vietnamese.

According to him, Vietnam has already signed 15 free trade agreements (FTAs) with more than 60 countries and territories, and is preparing to sign one more, making a total of 16 FTAs. At the same time, Vietnam has become an attractive investment destination, with some 37,000 active FDI projects, with a total capital of more than $440 billion from investors representing 143 countries and territories.

Vietnam is prioritizing three strategic advances related to institutional reforms, infrastructure and human resources, he said, adding that it is stepping up economic restructuring, industrialization and modernization based on science, technology and innovation, including driving forces of sustainable growth such as the digital economy, digital transformation, green growth and circular economy in line with the country’s green growth strategy.

In this process, Vietnam welcomes foreign investors, especially from the ROK, especially in innovation, digital transformation, biotechnology, electronics, semiconductors, clean energy, green economy, smart city development, and high-tech agriculture. technology, he stressed. He also wanted them to invest more in the cultural and entertainment industries.

In his speech, Premier Chinh thanked Korean friends for their partnership with Vietnam for development over the past three decades. He expressed his thanks to Korean companies for their commitment to invest in Vietnam in new fields.

During a round-table seminar with leading Korean business associations and corporations, Premier Chinh said Vietnam is striving to become a high-income developed country by 2045.

He expressed his satisfaction that the ROK has become Vietnam’s largest foreign investor, second largest ODA provider and third largest trading partner.

The Vietnamese government always accompanies enterprises in the spirit of harmonizing interests and sharing risks, he said.

He also vowed to instruct relevant ministries and agencies to study the proposals of Korean companies and carry them out gradually.

Participating companies hailed Vietnam as an important and strategic partner and pledged to stand side by side with Vietnam on the path to shared prosperity.

They expressed their interest in investing in areas of their strength such as green and digital transformation, science and technology, innovation, supporting industries, the food industry, entertainment, logistics, smart city development, and shopping malls. on a large scale.

They suggested to the Vietnamese government, ministries and agencies to create more favorable conditions for Korean companies, especially in administrative reform and supply of high-quality labor.

Article republished from the Vietnamese state media VNA in the framework of an agreement between both parties to share content. Link to the original article: https://en.vietnamplus.vn/steel-prices-drop-for-10th-straight-month-in-may/255149.vnp

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