Hanoi (VNA) - Deputy Prime Minister Nguyen Hoa Binh urged the Republic of Korea (RoK) to invest in high-quality workforce training, particularly in cutting-edge fields like semiconductors, AI, and digital transformation while addressing a Vietnam-RoK investment cooperation forum at the National Innovation Centre (NIC) in Hanoi on November 21.
He affirmed that the Vietnamese Government consistently encourages Korean businesses to expand investment in areas where the RoK holds strengths and Vietnam has high demand such as high technology, electronics, semiconductors, and artificial intelligence (AI).
Binh said that over more than three decades of diplomatic ties, the friendship and cooperation between Vietnam and the RoK has been thriving, based on mutual trust and shared values and strategic interests, enabling the two nations to work towards sustainable and mutually beneficial goals in all fields, including economy, diplomacy, security, defence, education, and sci-tech.
Elevating the relationship to a comprehensive strategic partnership has created new cooperation opportunities in value chains, economic security, climate change mitigation, and human resources development, he noted.
The Deputy PM highlighted the sound economic collaboration between the two countries, with Vietnam ranking as the RoK's largest trade partner in ASEAN and one of its top three global economic partners. The RoK, in turn, is Vietnam's leading foreign investor, with nearly 10,000 projects and over 87 billion USD in registered capital.
Binh commended the shift in the RoK's investments from simple manufacturing to high-tech industries, renewable energy, and financial services, underscoring their role in Vietnam’s economic transformation.
He pledged that Vietnam will continue implementing comprehensive measures to improve the business and investment environment and enhance competitiveness. These efforts include accelerating administrative reforms, streamlining and simplifying procedures, and focusing on refining mechanisms and policies. The Vietnamese Government is committed to addressing challenges faced by businesses, facilitating operations for both enterprises and citizens, and enhancing the fight against corruption and misconduct. These actions aim to build trust among the business community, investors, and the public, he stated.
He called for increased collaboration among small- and medium-sized enterprises (SMEs) from the two countries, based on the spirit of "harmonised benefits and shared risks.”
He underlined Vietnam's guarantees in recognising foreign investment as vital to the economy, ensuring the legitimate rights of investors, and maintaining a stable, business-friendly environment, as well as the country's principles of mutual understanding, shared vision, and collective success.
The Vietnamese Deputy PM also called for support in integrating Vietnamese businesses into global value chains and establishing Vietnam as a hub for research and development, and technological innovation.
He expressed his confidence that economic cooperation will remain a pillar of the bilateral relationship, driving both nations towards shared prosperity and resilience amid global challenges./.
