Vietnam, RoK enhance financial cooperation

Finance Minister Vuong Dinh Hue has made commitments to furthering financial cooperation between Vietnam and the Republic of Korea (RoK) during his meetings with senior RoK officials engaged in the field.
Finance Minister Vuong Dinh Hue has made commitments to furtheringfinancial cooperation between Vietnam and the Republic of Korea (RoK)during his meetings with senior RoK officials engaged in the field.

During his meeting with Minister of Strategy and Finance Bahk Jae-wan onMarch 27 as part of his visit to the RoK, Minister Hue expressed hishope that the growing cooperation between the two ministries will fosterbilateral economic and trade relations.

TheFinance Ministry of Vietnam will actively work with the RoK Strategy andFinance Ministry, as well as RoK investors in Vietnam, to build anopen, transparent and friendly business environment for investors tocarry out long-term operation.

Minister Bahk Jae-wanthanked the Vietnamese Government and the Finance Ministry inparticular for their support for RoK agencies and enterprises operatingin Vietnam.

He spoke highly of new cooperativecontents between the two sides, showing his belief that comprehensivecooperation will see further developments, contributing significantly tothe two countries’ strategic partnership.

At histalks with President of Korea Eximbank Kim Dong-soo, Minister Huepraised the bank’s positive contributions and effective operation inVietnam, especially the comprehensive cooperation between the FinanceMinistry and Korea Eximbank.

They also reviewedVietnam-RoK cooperative activities in preferential loan provision andtalked about orientations for future cooperation.

Minister Hue called for Korea Eximbank’s further support given Vietnam’s high demand for investment in infrastructure.

The bank executive informed that the RoK government will continue toinvest in infrastructure, green growth projects and climate changeprogrammes in Vietnam.

The same day, FinanceMinister Hue also met with National Tax Service Commissioner LeeHyun-dong to evaluate the two agencies’ cooperative programme.

Lee Hyun-dong affirmed that the RoK National Tax Service is willing tocooperate effectively with the Vietnam General Department of Taxation,contributing to the development of the Vietnam-RoK strategicpartnership.

The RoK is one of the most importantpartners of Vietnam in the fields of economics, investment, culture,education and labour, while Vietnam is an important partner of the RoKin Southeast Asia.

It is always among the top threeinvestors in Vietnam. In 2011, the country committed 411.8 million USDto Vietnam, a year-on-year increase of 39 percent.-VNA

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