President Vo Van Thuong (R) and Chairman of the Korea Enterprises Federation Sohn Kyung Shik (Photo: VNA) Hanoi (VNA) – President Vo Van Thuong gave a reception in Hanoi on June 23 for Chairman of the Korea Enterprises Federation (KEF) and Chairman of CJ Group Sohn Kyung Shik, during which the host said Vietnam supports CJ Group and Korean corporations and businesses to invest and expand their operations in the country in areas of their strength and Vietnam’s demand.
The President welcomed Sohn and the business delegation accompanying President of the Republic of Korea (RoK) Yoon Suk Yeol on their State visit to Vietnam.
He emphasised that the focal point of the Vietnam-RoK cooperation lies in the areas of economy, trade and investment. The significant presence of Korean enterprises in Vietnam signifies the strong potential of bilateral cooperation in these fields.
Sohn, for his part, hailed Vietnam as a promising destination for Korean investors. He said there are over 200 corporations and businesses accompanying the RoK President in the visit to seek investment opportunities.
He added that in Vietnam, CJ is investing in food processing, livestock farming, and logistics. It also plans to expand into production of veterinary drugs in the country. As a leading conglomerate in the cultural and entertainment industry in the RoK, CJ aims to invest in the development of the cultural industry, including film production in Vietnam. Additionally, CJ has plans to expand the production and processing of food products, making Vietnam a production hub for CJ's food exports to major markets in the region and worldwide.
President Thuong affirmed animal husbandry, food processing and logistics are priority and promising areas in Vietnam in the future.
Informing the guest about the outcomes of his successful talks with RoK President Yoon, Thuong said both sides reached consensus on bolstering bilateral trade and investment collaboration as these areas still hold great potential.
Agreeing with CJ's expansion of investment in culture and entertainment in Vietnam, the President believed that Korean culture, especially music and film, shares similarities with that of Vietnam.
Vietnam always strives to improve investment environment and offer all possible support to Korean investors to do business in the country, he said.
He wished that Korean business leaders would further enhance trade promotion activities, leading to increased Korean investment in Vietnam in the future./.
