Prime Minister attends Vietnam-RoK Business Forum in Seoul

Prime Minister Pham Minh Chinh attended a Vietnam-Republic of Korea (RoK) Business Forum in Seoul on July 1, which attracted 500 delegates from ministries, sectors, agencies and enterprises of both countries.

Speaking at the forum, held as part of the Vietnamese leader's official visit to the RoK, PM Chinh emphasised that after establishing diplomatic relations for more than three decades, the bilateral relationship is now at its best. The friendly, trustworthy, and practical cooperation between Vietnam and the RoK has been developing fruitfully on the basis of sharing common values and strategic interests.

Currently, the RoK holds the No.1 position in direct investment in Vietnam, No. 2 place in development cooperation and tourism and No. 3 in labour and trade cooperation. There are about 300,000 Vietnamese people working, studying and living in the RoK while the Korean community in Vietnam has about 200,000 people.

PM Chinh said that in addition to the two countries’ long-lasting relations and their governments’ support, the business communities of Vietnam and the RoK have also greatly contributed to the achievements.

According to the government leader, Vietnam determined that the foreign-invested economic sector plays an important role in its economy. Vietnam wants to attract selective foreign investments, connect the foreign direct investment (FDI) sector and domestic economic sector, promote public-private partnership to strongly develop the green economy, digital economy, circular economy, and knowledge-based economy.

Vietnam always encourages Korean businesses to expand investment cooperation in areas where the RoK has strengths and Vietnam has high demand and priority such as high technology, electronics, semiconductors, and artificial intelligence (AI), infrastructure construction, renewable energy, new energy (hydrogen), biotechnology, innovation, high-quality human resource training, and cultural industry.

PM Chinh called on Korean businesses to continue supporting Vietnam in finance, infrastructure development, institutional improvement, high-quality human resources training, and governance, and keep joining in social security activities, and assisting people with difficult circumstances and those affected by natural disasters as well as local residents in remote, border and island areas.

The government leader also hoped that Korean businesses will help Vietnamese enterprises to better participate in value chains of Korean firms and the world.

At the forum, the PM witnessed the exchanges of 23 cooperation agreements between ministries, agencies, localities and businesses of the two countries. Notably, the provincial People's Committees of Quang Tri, Hung Yen, Phu Yen, Ba Ria -Vung Tau, and Bac Ninh provinces, the National Innovation Centre, and the Hanoi Medical University Hospital will cooperate with Korean corporations in the fields of investment, trade, energy transition, biotechnology, industrial park construction, semiconductor technology, medicine and pharmacy, aviation, logistics, information technology, and mechanical engineering. Vietnam’s Sovico Group and the RoK’s Hyosung Group exchanged a cooperation agreement in the fields of sustainable development, data centres, financial technology, renewable energy, finance, smart cities, logistics and real estate./.