HCM City (VNA) – Vice Chairman of the Ho Chi Minh City People’s Committee Tran Vinh Tuyen has suggested promoting links with the Republic of Korea (RoK) localities in transportation, education-training, and smart health care, as part of the city’s goal to build an innovation urban area in its eastern part.

During a reception for visiting Chief of the RoK’s National Assembly Budget Office Lee Jong-hoo on June 12, Tuyen said the municipal authorities have adopted technological advances to deal with environmental issues, traffic congestion, health care and education-training. However, the city still faces pressure from increasing population, traffic infrastructure and housing.

According to him, trade between the two countries has surged 90-fold since the establishment of bilateral diplomatic ties 27 years ago. The RoK is now the largest investor and trade partner, and the second largest supplier of official development assistance to Vietnam.

The host also committed all possible support for Korean firms to do business in the city.

Lee, for his part, said RoK enterprises always attach importance to the business environment, especially when Vietnam and Ho Chi Minh City in particular always create the most favourable conditions for foreign investors, including those from the RoK.

He believed that more RoK firms will arrive in Ho Chi Minh City to seek opportunities, especially in fields of its demand.

The RoK is now the third largest investor in Ho Chi Minh City with over 1,600 projects worth more than 5 billion USD.

The city is also home to a population of over 80,000 people and 2,000 RoK companies.-VNA