Hanoi (VNA) - Permanent Deputy Prime Minister (PM) Nguyen Hoa Binh received Kim Sung-tae, Chairman and CEO of the Industrial Bank of Korea (IBK) at the National Innovation Centre in Hanoi on November 21.
The Deputy PM commended IBK for sponsoring the 2024 Vietnam-Korea Investment Cooperation Forum, expressing his confidence that the forum would open new opportunities for collaboration between Vietnamese and Korean enterprises, thereby strengthening the friendship and cooperation between the two countries.
Binh praised IBK’s effective operations in Vietnam and encouraged the bank to leverage its expertise and practical experience to deepen and expand its support for Vietnamese enterprises, particularly small and medium-sized enterprises (SMEs). He also hoped that IBK will continue support social welfare programmes in Vietnam.
He emphasised the significant role of SMEs in Vietnam’s economy. Vietnam now has nearly 1 million SMEs which contribute approximately 40% to the country’s GDP and employ 60% of its workforce. IBK’s support for these businesses would have a significant impact, Binh noted.
The Deputy PM affirmed that the Vietnamese government is committed to facilitating IBK’s long-term investment and collaboration in the country.
For his part, Kim thanked the Deputy PM for his reception. He showed his delight at visiting Vietnam and participating in the 2024 Vietnam-Korea Investment Cooperation Forum.
Kim highlighted IBK’s mission since its establishment by the Korean government in 1961, with a 68.5% stake, to provide specialized financial services for SMEs in the RoK. He noted that IBK operates 60 branches across 13 countries, including its Ho Chi Minh City branch, established in March 2008, and its Hanoi branch, opened in November 2013.
IBK is committed to fostering the growth of SMEs, not only in the RoK but also in other countries, including Vietnam. The bank is actively promoting programmes to support SMEs, including those in Vietnam, especially in energy-related projects, he said.
Kim expressed his hope that the Vietnamese government will continue to create favourable conditions for IBK to expand its partnerships and sustain long-term, sustainable investment in the Southeast Asian country./.
