Prime Minister Pham Minh Chinh and RoK President Yoon Suk Yeol at Vietnam-RoK Business Forum (Photo: VNA) Hanoi (VNA) – Prime Minister Pham Minh Chinh and President of the Republic ofKorea (RoK) Yoon Suk Yeol attended the Vietnam-RoK Business Forum in Hanoi onJune 23, with over 500 delegates representing associations, corporations andbusinesses of the two countries taking part.
Speaking at the event, President Yoon said over 8,000 Korean enterprises areoperating in Vietnam in electricity, electronics and high technology. ManyVietnamese people are learning Korean language while many Koreans are learningVietnamese.
He suggested both countries elevate their relationship to a newlevel, particularly by increasing two-way trade to 150 billion USD by 2030. Theyshould expand cooperation into other areas while removing any barriers thathinder this process.
RoK President Yoon Suk Yeol speaks at the event (Photo: VNA)
According to him, Vietnam and the RoK arebenefiting from free trade and need to protect and maintain these benefits inthe future. Therefore, they should boost joint work in digital transformation,energy transition and renewable energy. The President hoped that businessesfrom both countries will engage in specific, practical and effective joint projects,and affirmed that in the future, the two countries will continue cooperatingfor development, and this responsibility lies with their young generations.
In his speech, PM Chinh thanked Koreanfriends for partnering with Vietnam for development over the past threedecades. He expressed his thanks to Korean firms for their commitments toinvesting in Vietnam in new fields.
He wished that they would make breakthroughsin economic, trade and investment collaboration, with results three to fourtimes higher than the current ones toward the 60th anniversary of bilateral diplomatic ties.
According to him, Vietnam already inked 15 free tradeagreements (FTAs) with over 60 countries and territories, and is preparing foran additional one, making a total of 16 FTAs. At the same time, Vietnam hasbecome an attractive investment destination with around 37,000 active FDIprojects, with a total capital of over 440 billion USD from investorsrepresenting 143 countries and territories.
Vietnamis giving priority to three strategic breakthroughs regarding institutionalreforms, infrastructure and human resources, he said, adding that it isstepping up economic restructuring, industrialisation and modernisation basedon sci-tech and innovation, including sustainable growth drivers such as thedigital economy, digital transformation, green growth and circular economy inline with the country’s green growth strategy.
PM Pham Minh Chinh speaks at the event (Photo: VNA)
In such process, Vietnam welcomes foreign investors,especially those from the RoK, particularly in innovation, digitaltransformation, biotechnology, electronics, semiconductors, clean energy, greeneconomy, smart city development , and hi-tech agriculture, he stressed. Healso wished for their further investment in cultural and entertainmentindustries.
Duringa round-table seminar with leading Korean business associations andcorporations earlier, PM Chinh said Vietnam is striving to become a developedcountry with high income by 2045.
Heexpressed his delight that the RoK has become the biggest foreign investor, thesecond largest ODA provider and the third biggest trade partner of Vietnam.
TheVietnamese Government always accompanies businesses in the spirit of harmonisinginterests and sharing risks, he said.
Healso pledged to assign relevant ministries and agencies to consider Koreanfirms’ proposals and gradually realise them.
Participatingfirms hailed Vietnam as an important and strategic partner and vowed to standside by side with Vietnam on the path to shared prosperity.
Theyexpressed their interest in investing in areas of their strength such as green anddigital transformation, sci-tech, innovation, supporting industries, foodindustry, entertainment, logistics, smart city development, and large-scale shoppingmalls.
Theysuggested the Vietnamese Government, ministries and agencies create morefavourable conditions for Korean enterprises, especially in administrativereform and supply of high quality workforce./.
