Politics

Vietnamese legislature supports operations of foreign business communities

The National Assembly (NA) wants to create a favourable legal corridor for investment, production, and business activities of domestic and foreign firms in Vietnam, affirmed Chairman Vuong Dinh Hue while receiving Chairman of the Korean-based SK Group Chey Tae-won in Hanoi on October 27.
Vietnamese legislature supports operations of foreign business communities ảnh 1Chairman Vuong Dinh Hue (L) and Chairman of the Korean-based SK Group Chey Tae-won at their meeting in Hanoi on October 27 (Photo: VNA)
Hanoi (VNA) – The National Assembly (NA) wants to create a favourable legal corridor for investment, production, andbusiness activities of domestic and foreign firms in Vietnam, affirmed ChairmanVuong Dinh Hue while receiving Chairman of the Korean-based SK Group CheyTae-won in Hanoi on October 27.

Lauding the group’s cooperation with Vietnamese partners andpractice of social responsibility, Hue welcomed its investment in a high-techbiodegradable materials factory in Hai Phong as well as its proposals forcollaboration in the fields of energy, semiconductors, and ICT in the time tocome.

SK has significantly supported the National Innovation Center(NIC) of Vietnam, which will officially open on October 28. During the COVID-19 pandemic,it donated 1 million USD for Vietnam's vaccination fund.

The top legislator expressed his hope that the group willshare its experiences, contributing to the building of a practical legal frameworkfor the improvement of Vietnam’s business climate.

He suggested SK make further contributions to Vietnam’seconomic growth and team up with Vietnam in the nation’s processes of energytransition and carbon emission reduction toward the net-zero goal for 2050.

Hue went on underscoring the NA’s willingness to accompany SKand facilitate its effective, successful and sustainable investment andbusiness operations in Vietnam.

Vietnamese legislature supports operations of foreign business communities ảnh 2Chairman Vuong Dinh Hue (R) and Chairman of the Korean-based SK Group Chey Tae-won at their meeting in Hanoi on October 27 (Photo: VNA)
In response, the SK Chairman showed his delight at outcomes graduallyformed following the signing of memoranda of understanding on cooperationbetween Vietnam and the Republic of Korea during Hue’s 2021 official visitto the latter.

Chey affirmed that the group stands ready to work withVietnamese partners in green energy transition, helping Vietnam capitalise onits potential and be proactive in energy production.

In his position as Chairman of the Korea Chamber of Commerceand Industry (KCCI), he informed his host of the chamber’s ongoing teamwork withthe Vietnam Chamber of Commerce and Industry (VCCI) regarding the development ofprivate enterprises. Chey said he hopes that small-scale but innovative firms will take a more active role in setting up shop in Vietnam./.
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