Vietnam treasures its friendship and multi-faceted cooperation with the Republic of Korea (RoK) for the benefit of their peoples and for prosperity, peace, stability, cooperation and development in the region and the world.

Vietnamese Party General Secretary Nong Duc Manh made the statement while receiving visiting RoK President Lee Myung-bak in Hanoi on Oct. 21.

The Party leader expressed his pleasure at the rapid development of Vietnam-RoK relations over recent years and also spoke highly of RoK support for Vietnam.

He also expressed his wish to ramp up efforts on both sides to deepen bilateral ties in the spirit of the newly-established strategic cooperative partnership.

Vietnam will continue to facilitate stable, long-term business operations for RoK investors in the country, he affirmed.

RoK President conveyed that he is deeply impressed by Vietnam’s dynamic development in the renewal process and the comprehensive cooperation between the two countries.

The same day, Prime Minister Nguyen Tan Dung, while meeting with RoK President Lee Myung-bak, said that Vietnam is willing to create favourable conditions for the RoK to become Vietnam’s leading foreign investor and increase two-way trade to 20 billion USD in the coming years.

To reach this goal, PM Dung suggested the two countries speedily sign a Free Trade Agreement.

The Vietnamese PM also spoke highly of the two sides’ agreement on Vietnam-RoK strategic cooperative partnership, describing it as a milestone that lifts bilateral relations to a new height.

Vietnam will do its best to bring into play agreements reached in the joint statement, bringing benefits to the development of each country, PM Dung said.

He also asked the RoK to increase development assistance for infrastructure and education projects in Vietnam , open vocational training and Korean teaching classes as well as boost cultural exchanges to strengthen cooperation and mutual understanding.

President Lee Myung-bak said that RoK businesses always consider Vietnam a promising investment environment.

Alongside boosting economic, trade and investment cooperation, the President said he wished Vietnam and the RoK would further boost dialogues and collaboration in bilateral and regional forums for peace, cooperation and development.

Earlier, President Lee Myung-bak met representatives of Vietnamese and RoK business circles.

The RoK President visited Vietnam National University (VNU) and met students who are studying the Korean language and culture on Oct. 20.

He also visited the Samsung mobile phone factory in Yen Phong industrial zone, Bac Ninh province.

The RoK is the second largest direct foreign investor in Vietnam with a total capital of over 20 billion USD (as of July, 2009). President Lee Myung-bak said he believes that RoK will soon become Vietnam’s top foreign investor.

On Oct. 21, Vietnam’s Ministry of Health and the RoK Ministry of Knowledge Economy signed a memorandum of understanding on the development of the health system, under which the two sides will coordinate on the application of the RoK’s U-Health system model in Vietnam./.