Politics

President wishes RoK groups to invest more in Vietnam

President Nguyen Xuan Phuc has wished that the Republic of Korea (RoK)'s corporations would invest more in Vietnam and work closely with Vietnamese partners to make economic cooperation between the two countries on par with their diplomatic ties.
President wishes RoK groups to invest more in Vietnam ảnh 1President Nguyen Xuan Phuc (R) receives Chairman of Hyosung Group Cho Huyn-joon (Photo: VNA)

Seoul (VNA) – President Nguyen Xuan Phuc haswished that the Republic of Korea (RoK)'s corporations would invest more in Vietnam and work closelywith Vietnamese partners to make economic cooperation between the two countries on par with their diplomatic ties.

During a reception in Seoulon December 6 for executives of leading RoK groups, President Phuc said asVietnam already signed new-generation free trade agreements, Korean enterpriseswill have a chance to access ASEAN, Asia-Pacific and other markets, in addition to the 100-million-strong Vietnamese market .

He suggested they invest inVietnam’s localities in fields of their strength, high technology and environmentprotection.

Chairman of Hyosung Group ChoHuyn-joon said his group has invested in all the three regions of the country with atotal capital of 3.5 billion USD in apparel and industrial establishments, generating jobs to 10,000 workers. Hyosung wants to invest more in Vietnam in potential fields like environment and green growth, he noted. 


The Vietnamese leadersuggested Hyosung double investment in Vietnam, adding that Vietnam is keen onattracting investment in industry and environment to provide stable sources of inputmaterials for Korean factories.

Meeting Chairman and CEO ofthe Korea Development Bank (KDB) Kang Seog-hoo,Phuc spoke highly of KDB’s good will to engage in finance-banking activities inVietnam. He asked the lender to continue helping Korean firms successfully do businessin Vietnam, especially in green finance and sustainability with a focus ongreen bond market under the national strategy on green growth for 2021-2030.

The Vietnamese leader alsowelcomed KDB’s proposal to work with the Vietnamese Finance Ministry to build asustainable development plan for the Vietnam Development Bank.

Kang, for his part, said KDB hasbeen instrumental in the RoK's development in the fields of automobile, shipbuilding,chemicals and heavy industry. It wants to share experience with Vietnam andoffers capital to Korean firms to invest in fields of Vietnam’s priority suchas green development, environment and clean energy.

KDB is also exploring thepossibility of launching new financial products and services in Vietnam, he added./. 

VNA
#President Nguyen Xuan Phuc #Vietnamplus #Vietnam News Agency #Hyosung Group #Cho Huyn-joon #Korea Development Bank Korea (RoK) Vietnam
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