Deputy PM calls for more Korean investment to Vietnam

Permanent Deputy Prime Minister Pham Binh Minh (R) and Korean Deputy PM and Minister of Economy and Finance Choo Kyung-ho (Photo: VNA) 

Seoul (VNA) - Permanent Deputy Prime Minister Pham Binh Minh on December 6 encouraged Korean firms to expand investment in Vietnam in digital technology, electronics, infrastructure and industrial zones.

During a working session with Korean Deputy PM and Minister of Economy and Finance Choo Kyung-ho in Seoul, Minh asked the Republic of Korea (RoK) to facilitate Vietnam’s agro-fisheries exports to the country, toward lifting two-way trade to 100 billion USD by 2023 and 150 billion USD by 2030 in a more balanced and sustainable manner.

At the ceremony to exchange cooperation agreements between businesses of the two countries (Photo: VNA) 

Choo, for his part, suggested both countries expand coordination in new spheres such as digitalisation, climate change response and environment-friendly technology.

The RoK will provide more official development assistance for Vietnam within the framework of the Economic Development Cooperation Fund (EDCF) signed during President Nguyen Xuan Phuc’s ongoing visit, he said.

He wished the Vietnamese Government will make it easier for Korean financial organisations to enter Vietnam, thus expanding Korean investment in the country.

The two sides agreed to broaden areas receiving Vietnamese workers and those of Vietnam’s demand, as well as to work with competent agencies to facilitate travel, entry-exit and residence of citizens while propelling cultural and tourism cooperation, and people-to-people exchange.

At the Vietnam-RoK Business Forum held in the morning the same day, President Phuc witnessed the signing of 15 memoranda of understanding on cooperation.

Phuc hosted representatives of Korean enterprises operating in infrastructure, electronics, finance, transport and education that expressed their interest in Vietnamese market. They vowed to continue investing in Vietnam in the near future.

Statistics from the Vietnamese Ministry of Planning and Investment showed that deals reached during the visit are estimated at nearly 15 billion USD./.