Prime Minister Phạm Minh Chính (right) receives chairman of Lotte Group Shin Dong Bin. — VNA/VNS Photo Dương Giang

SEOUL — The Vietnamese Government always listens to, accompanies with, supports and provides best possible conditions to foreign investors in general and those from the Republic of Korea (RoK) in particular for them to operate smooth, effective and sustainable business in Việt Nam, Prime Minister Phạm Minh Chính pledged at a working breakfast in Seoul on Monday with leaders of some major businesses of the RoK in the fields of industry, energy, finance, IT, health care and pharmacy.

At the session, PM Chính said that the Vietnam-RoK relationship is in prime time after 30 years of establishment. The two sides have become each other’s leading important partner across many fields, he stated, noting that last year, two-way trade hit US$76.1 billion. The RoK’s direct investment in Việt Nam totalled $87 billion with about 10,000 projects.

The Vietnamese Government leader briefed participants on Việt Nam’s development orientations, external and defence policies, as well as policy in cultural development, social welfare, political system building, and anti-corruption. He underlined that amid a challenging and changing world situation, Việt Nam has maintained stable macro-economic situation, reining in inflation and ensuring major balances, with Government and foreign debts under control and good economic growth.

He expressed his hope that the RoK businesses will continue to expand cooperation and investment activities in Vietnam to make full use of the Việt Nam-RoK comprehensive strategic partnership, contributing to lifting trade between the two countries to $100 billion in 2025 and $150 billion in 2030..

Leaders of RoK firms such as Hyundai Motors, GS Energy, Doosan Enerbility, KB Financial Group, Hana Financial Group, Shinhan Bank, MB Bank, POSCO International, TKG Taekwang, and Seegene Medical Foundation spoke highly of the investment environment in Việt Nam, saying that they have enjoyed effective cooperation, investment and business operations in Việt Nam.

They showed their interest in continuing to invest in Việt Nam in the fields of energy, especially renewable energy, LNG energy; aircraft engine manufacturing; shipbuilding; synchronous and interconnected data centre building, public service digitalisation; banking; and health care.

The business executives said they hope Vietnamese ministries, sectors and agencies continue to promote administrative reform, ensure stable and diverse power supply, and provide them with support and assistance in labour and land rent.

PM Chính said along with traditional areas, the two sides should expand their collaboration to new areas such as the digital economy, green economy, circular economy, sharing economy, knowledge-based economy, and emerging industries such as artificial intelligence and areas related to the Fourth Industrial Revolution.

The Vietnamese leader asked the RoK firms to continue providing Việt Nam with support in finance, infrastructure building, ideas for institution and policy perfection, high-quality human resources training, and smart governance.

He proposed that RoK investors continue to engage in social welfare activities and charity activities in Việt Nam, and assist Vietnamese enterprises in joining RoK’s supply chains and global value chains.

The leader said he believes that with the motto of “three together” - listening, understanding together; sharing visions and actions together; and working, benefiting, winning and developing together; as well as the spirit of “harmonised interests, shared risks,” Vietnamese and RoK enterprises will make greater contributions to the relations between the two countries, serving the growth of both countries and bringing about a better life for the people.

He assigned Vietnamese ministries, sectors and localities to note down all opinions at the sessions, especially those in investment attraction, business environment improvement and competitiveness enhancement, for consideration. — VNS