President Nguyen Xuan Phuc (R) and Lotte Chairman Shin Dong-bin at the reception in Hanoi on August 31. (Photo: VNA) Expressing his delight at the two nations’ strategic partnership being consolidated across fields, particularly trade, investment and political trust,he noted RoK firms are taking the lead in terms of FDI volume in Vietnam with atotal capital of 80 billion USD.
Bilateral trade value has reached 78 billion USD, with the RoK now the third largest trade partner of Vietnam.
The State leader thanked Lotte for helping Vietnam in pandemicprevention and control, notably an aid worth 3.7 billion VND (157,766 USD),discount programmes for necessities, and the provision of face-mask and gifts forworkers.
The host, guest, and other participants of the reception pose for a group photo (Source: VNA) He informed his host on a number of Lotte’s projectsearmarked for Hanoi, including a shopping centre expected to attract some 10million visitors annually.
Lotte also wants to promote the building of a startupecosystem in support of Vietnamese youth and invest in Vietnamese start-ups,Shin affirmed.
According to him, since 1996, the group has invested in Vietnam across many fields, with its capital totaling 40 trillion VND and current number of employees exceeding 20,000.
Agreeing with the group’s investment orientations, particularlythose involving start-up development and job creation, President Phuc hoped Lotte will contribute to enhancing the nations’ economic cooperation toward 100 billion USD in bilateral trade revenue.
Lotte's projects have helped to meet the growing needs of Vietnamesepeople given a rapidly expansion of the local middle class and of 200,000Koreans living and working in Vietnam, he said.
He went on stressing that the two countries’ businesses play an important role in lifting the Vietnam – RoK relationsto new heights this year in celebration of the 30th anniversary oftheir diplomatic relations./.
VNA
