Politics

Prime Minister calls for RoK’s investment in Vietnam

Prime Minister Nguyen Xuan Phuc called on the Republic of Korea (RoK) to invest more renewable energy, infrastructure, high technology, and processing industry in Vietnam, during his reception for Park Won-soon, Special Envoy of the RoK’s President Moon Jae-in, in Hanoi on May 25.
Prime Minister calls for RoK’s investment in Vietnam ảnh 1Prime Minister Nguyen Xuan Phuc (R) receives Park Won-soon, Special Envoy of the RoK’s President Moon Jae-in (Photo: VNA)
Hanoi (VNA) – Prime Minister Nguyen XuanPhuc called on the Republic of Korea (RoK) to invest more renewable energy,infrastructure, high technology, and processing industry in Vietnam, during hisreception for Park Won-soon, Special Envoy of the RoK’s President Moon Jae-in,in Hanoi on May 25.

The PM reiterated Vietnam’s strong determinationto implement effectively the free trade agreement (FTA) with the RoK to achievethe bilateral trade target of 100 billion USD by 2020.

He proposed the RoK support Vietnam to develop thesupport industry, sign a credit framework agreement for the 2016-2020 period,and help Vietnam access credits from the International Development Association(IDA) after 2017.

Vietnam hopes to expand the economic-traderelations with the RoK, he said, adding that the Vietnamese Government willcreate all possible conditions for Korean enterprises to do business.

The PM also urged both sides to boost cooperationin other fields such as legislative activities, culture, education, andtourism.

Park Won-soon said this is the first time theRoK President has sent a Special Envoy to ASEAN, which demonstrates thecountry’s desire to step up collaboration with the bloc in general and Vietnamin particular.

The RoK is keen to develop cooperation withVietnam in economics, trade, investment and people-to-people exchanges, hesaid.

He noted that the RoK President attaches greatimportance to relations with Vietnam and highly values the Southeast Asiannation’s accomplishments and hopes to elevate the bilateral rapports to a newheight.

The President is due to attend the APEC EconomicLeaders’ Meeting 2017 in Vietnam, he said.

The Special Envoy also confirmed that the RoKwill spare no effort to increase the bilateral trade up to 100 billion USD by2020, and expressed his belief that more Korean businesses will come to Vietnamto develop the support industry.

Vietnam and the RoK established strategicpartnership in 2009. The RoK is currently the biggest foreign direct investorin Vietnam and the second largest trade partner.-VNA
VNA
#Prime Minister #Nguyen Xuan Phuc #Vietnam #Republic of Korea #RoK #investment #renewable energy #infrastructure #high technology #processing industry #FTA #free trade agreement #IDA #credits #economics #trade #business #people-to-people exchanges #APEC #investors #support industry Korea (RoK) Vietnam
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