President calls for stronger investment from RoK enterprises

President Nguyen Xuan Phuc on December 5 received representatives of large enterprises of the Republic of Korea (RoK) operating in Vietnam, as part of his State visit to the Northeast Asian country.

President calls for stronger investment from RoK enterprises hinh anh 1

President Nguyen Xuan Phuc (R) receives Chairman and CEO of CJ Group Sohn Kyung-shik in Seoul on December 5. (Photo: VNA)

President Nguyen Xuan Phuc on December 5 received representatives of large enterprises of the Republic of Korea (RoK) operating in Vietnam, as part of his State visit to the Northeast Asian country.

Meeting with Chairman and CEO of CJ Group Sohn Kyung-shik in Seoul, President Phuc highly valued the firm’s realisation of its investment commitments in the fields of food and animal feed production, biotechnology, logistics, and culture in Vietnam. It currently has 24 subsidiaries operating in eight main sectors in Vietnam, earning 1.5 billion USD in revenue, rising 10-fold over the last 10 years.

He asked CJ to continue expanding investment in Vietnam, turn the country into its global production and business centre, move its Southeast Asia headquarters to Vietnam so as to optimise opportunities generated by the free trade agreements (FTAs) to which Vietnam is a party, and actively distribute Vietnamese goods to global markets.

Sohn noted over the past years, his group has implemented the commitments on clean food production and biotechnology, turning Vietnam into the third largest among its 30 markets around the world.

In the time ahead, the country will become the production and business centre of CJ in Southeast Asia, he added.

Talking to Chairman of Lotte Group Shin Dong-bin, President Phuc affirmed that Vietnam always creates conditions for this enterprise to increase its presence and continue operating successfully in Vietnam.

He welcomed Lotte’s launch of a major urban project in Ho Chi Minh City last September and preparation for opening Lotte Mall Tay Ho in Hanoi in August 2023.

He asked the group to consider investing in a modern trade centre and residential area in Long An province, adding that agencies and localities of Vietnam will coordinate with Lotte to ensure harmonious interests between the two sides.

President calls for stronger investment from RoK enterprises hinh anh 2

President Nguyen Xuan Phuc (R) and Vice Chairman and CEO of LG Corp. Kwon Bong-seok at their meeting on December 5. (Photo: VNA)

At the meeting with Vice Chairman and CEO of LG Corp. Kwon Bong-seok, President Phuc applauded the group’s strong investment in Vietnam and creation of jobs for tens of thousands of workers in the country.

The State leader expressed his hope that LG will increase investment in Vietnam, especially in the areas it is strong at like automobile and mobile phone components, strengthen cooperation in IT and software training, and place its biggest manufacturing centre in Vietnam.

The country will provide the best investment environment and infrastructure for investors, he affirmed.

Kwon said LG, present in Vietnam since 1995, has invested 5.3 billion USD in multiple fields so far, including camera, electronics, household appliance, and auto component production, and it is planning to pour another 4 billion USD into the country.

It hopes to continue investment cooperation in various areas in Vietnam and develop the country into its centre for manufacturing smartphone cameras in the future, he stated.

Receiving Chairman of Daewoo E&C Jung Won-ju, President Phuc spoke highly of the group’s strong investment in Vietnam, which he described as an appropriate move amid flourishing relations between the two countries.

He asked Daewoo E&C to build a big hospital in Vietnam, which has a population of 100 million with high demand for medical examination and treatment, and invest in the development of infrastructure, oil and gas, smart cities, and services for the RoK’s investment ecosystem in the Southeast Asian country.

Jung noted his firm wishes to invest more in Vietnam, particularly in oil and gas, green growth, environment, and community development, adding that it is about to hold a Vietnam - RoK investment cooperation forum in mid-December so as to enhance partnerships between leading enterprises of the two countries.

Meeting CEO of Hyundai Motor Chang Jae-hoon, the Vietnamese leader lauded its successful investment in the country and called on the firm to keep working with businesses of Vietnam to invest in supporting industries, especially automobile spare part production.

President calls for stronger investment from RoK enterprises hinh anh 3

President Nguyen Xuan Phuc (right) receives CEO of Hyundai Motor Chang Jae-hoon in Seoul on December 5. (Photo: VNA)

He welcomed its investment in electric vehicle manufacturing in Vietnam, saying that he will assign ministries and sectors to consider tax and infrastructure support policies and encourage the use of e-vehicles in the country. The President also called on Hyundai Motor to make strong investment to turn Vietnam into its regional and global centre in the auto industry.

Chang expressed the firm’s intention to expand investment in e-vehicle production to serve not only the Vietnamese market but also Asia.

Meanwhile, President highly valued GS E&C Corp.’s practical and effective contributions to infrastructure development in Vietnam, asking it to continue expanding cooperation and investment in green energy, environmental protection, climate change adaptation, and infrastructure, especially transport, urban, healthcare, energy, and digital infrastructure.

Vice Chairman and CEO of GS E&C Lim Byeong-yong informed the leader of some important projects his company is implementing in Vietnam, noting that it is working hard to carry out some new residential areas in Vietnam and develop a system of international schools to improve educational infrastructure in the south of Ho Chi Minh City.

Talking to President and CEO of Doosan Heavy Yeonin Jung, President Phuc highly valued the enterprises’ manufacturing of heavy-duty equipment in Vietnam and asked it to join the country in creating green and clean energy solutions and realising the sutainable development goals.

Vietnam welcomes Korean businesses, including Doosan, stepping up renewable energy development in the country, he added.

Jung said his firm is shifting its investment from coal-fired thermal power to renewable energy to produce electricity. It is applying the RoK’s advanced wind power model to Vietnam, cooperating with Vietnamese partners to develop green energy sources, and sharing experience with the Vietnamese side so as to obtain the best interests together.

Also on December 5, President Phuc received a group of Saigontel’s partners led by Lee Kang-hoon - President of the Korea Overseas Infrastructure and Urban Development Corporation (KIND) under the RoK’s Ministry of Land, Infrastructure and Transport, along with a group of Dat Viet/Kocham partners./.

Source: VNA
en.vietnamplus.vn

Related News

Vietnam kicked off the year with a strong start in trade, exceeding US$63 billion in the first month

Vietnam kicked off the year with a strong start in trade, exceeding US$63 billion in the first month

VCN - Data from the General Department of Vietnam Customs indicates a softening of both exports and imports in January 2025, relative to the same month in 2024.
Researching and proposing amendments to 2014 Customs Law to meet the requirements of innovation

Researching and proposing amendments to 2014 Customs Law to meet the requirements of innovation

VCN - After 10 years of implementation, the Customs Law has been effective in reforming administrative procedures and protecting national sovereignty. However, in the context of innovation requirements, it is necessary to continue reforming specialized inspections and focusing on digital transformation.
Flexible and proactive when exchange rates still fluctuate in 2025

Flexible and proactive when exchange rates still fluctuate in 2025

VCN - In the last days of 2024, as many forecasts, the US Federal Reserve (Fed) continued to cut interest rates, pushing the USD index up, creating pressure on domestic exchange rates. Therefore, domestic exchange rate management policies need to continue to be flexible and appropriate, thereby supporting businesses in import and export.
Vietnam, Korea Customs sign AEO MRA

Vietnam, Korea Customs sign AEO MRA

VCN- The Director General of the General Department of Vietnam Customs (GDVC), Mr Nguyen Van Tho, and the Commissioner of Korea Customs Service (KCS), Mr Ko Kwang Hyo, signed the Authorized Economic Operator Mutual Recognition Agreement (AEO MRA) on the afternoon of December 24, at the GDVC’s headquarters.

Latest News

15th National Assembly concludes ninth extraordinary session

15th National Assembly concludes ninth extraordinary session

NA Chairman Trần Thanh Mẫn highlighted this session as a significant milestone in legislative development, playing a crucial role in streamlining the political system.
Party chief requests priority for sci-tech development, digital transformation

Party chief requests priority for sci-tech development, digital transformation

The Party chief asked for prompt amendments to the Law on Science and Technology, followed by revisions to other laws to ensure consistency and alignment with practical requirements.
Monetary policy is a key factor for economic stability and growth

Monetary policy is a key factor for economic stability and growth

VCN – Vietnam’s economy is forecast to grow by 6.7% in 2025, Standard Chartered Bank reported.
Việt Nam commits to being safe, attractive destination for investors

Việt Nam commits to being safe, attractive destination for investors

The Deputy Prime Minister said from an underdeveloped economy, devastated by war, Việt Nam has risen to become the 33rd largest economy in the world with the size of the economy increasing about 60 times compared to the period before renewal.

More News

Minister of Planning and Investment outlines six strategies to boost Việt Nam’s private sector

Minister of Planning and Investment outlines six strategies to boost Việt Nam’s private sector

Dũng’s message to Việt Nam’s business community was clear: the private sector must continue to evolve and innovate to maintain its role as a key driver of economic development in the face of new global challenges.
Positive economy growth forecast in 2025, but caution remains

Positive economy growth forecast in 2025, but caution remains

Growth is expected to moderate from 7.5 per cent year-on-year in H1 to 6.1 per cent in H2, driven by increased business activity and sustained foreign investment.
Labour market to see changes in key industries

Labour market to see changes in key industries

It is anticipated that the technology, renewable energy and logistics sectors would continue to expand rapidly in 2025.
Prime Minister warns of possible global trade war, pushes for preparation

Prime Minister warns of possible global trade war, pushes for preparation

The Government leader warns of a possibility of a trade war that may disrupt the global supply chain.
Positive economic indicators recorded in early 2025: Gov

Positive economic indicators recorded in early 2025: Gov't spokesperson

Trade remained smooth, with total import-export turnover estimated at $63.15 billion, down 10.5 per cent from the previous month and 3.5 per cent year-on-year.
General Secretary urges immediate return to work after Tết

General Secretary urges immediate return to work after Tết

Party General Secretary Tô Lâm praised efforts to ensure a well-organised holiday, but stressed the need for authorities and businesses to return to work promptly. He warned against extended celebrations and called for full focus on meeting February and first-quarter deadlines.
Government holds gathering to celebrate Party’s 95th anniversary, Lunar New Year

Government holds gathering to celebrate Party’s 95th anniversary, Lunar New Year

PM Phạm Minh Chính expressed his hope for continued support from the Party Central Committee, its Politburo and Secretariat, current and former leaders, the National Asembly, and the Việt Nam Fatherland Front for the Government to fulfil its tasks, creating momentum for the whole country to make development breakthrough and enter the era of the nation’s rise.
Việt Nam’s manufacturing PMI slips into contraction in January

Việt Nam’s manufacturing PMI slips into contraction in January

Business conditions in the Vietnamese manufacturing sector weakened in the first month of 2025 with drops in both output and new orders.
Party’s 95-year journey: Capitalising on great solidarity in era of nation’s rise

Party’s 95-year journey: Capitalising on great solidarity in era of nation’s rise

The past 95 years have formed a glorious and pride-worthy period for the Vietnamese people as they have gradually eliminated poverty and backwardness, steadily moving towards a wealthier and happier future.
Read More

Your care

Latest Most read
15th National Assembly concludes ninth extraordinary session

15th National Assembly concludes ninth extraordinary session

NA Chairman Trần Thanh Mẫn highlighted this session as a significant milestone in legislative development, playing a crucial role in streamlining the political system.
Party chief requests priority for sci-tech development, digital transformation

Party chief requests priority for sci-tech development, digital transformation

The Party chief asked for prompt amendments to the Law on Science and Technology, followed by revisions to other laws to ensure consistency and alignment with practical requirements.
Monetary policy is a key factor for economic stability and growth

Monetary policy is a key factor for economic stability and growth

VCN - Standard Chartered's report also forecasts Vietnam's economic growth at 7.5% in the first half of the year and at 6.1% in the second half of the year compared to the same period last year.
Việt Nam commits to being safe, attractive destination for investors

Việt Nam commits to being safe, attractive destination for investors

The Deputy Prime Minister said from an underdeveloped economy, devastated by war, Việt Nam has risen to become the 33rd largest economy in the world with the size of the economy increasing about 60 times compared to the period before renewal.
Minister of Planning and Investment outlines six strategies to boost Việt Nam’s private sector

Minister of Planning and Investment outlines six strategies to boost Việt Nam’s private sector

Dũng’s message to Việt Nam’s business community was clear: the private sector must continue to evolve and innovate to maintain its role as a key driver of economic development in the face of new global challenges.
Mobile Version