President Nguyễn Xuân Phúc with Minister of Foreign Affairs of the Republic of Korea (RoK) Park Jin on Tuesday in Hà Nội. — VNA/VNS Photo

HÀ NỘI — During his official visit, Republic of Korea Minister of Foreign Affairs of the Republic of Korea (RoK) Park Jin told President Phúc he has every confidence Việt Nam will become an upper middle-income country with modern industry by 2030.

President Nguyễn Xuân Phúc hosted a reception for the foreign minister on Tuesday in Hà Nội, as part of the RoK minister's visit to Việt Nam. 

President Phúc noted the two countries celebrated their 30th anniversary of diplomatic ties this year, which is an effective cooperation path in all fields and is heading towards a new level. He stressed the visit by the RoK minister has a significant meaning in developing the bilateral relations more deeply, effectively, practically and comprehensively.

RoK Minister Park Jin said he believes that, with the achievements gained, Việt Nam will become an upper-middle-income country with modern industry by 2030. 

Despite the impacts of the COVID-19 pandemic, two-way trade turnover still increased rapidly. Jin said many RoK businesses are investing in Việt Nam, and the RoK always considers Việt Nam a strategic partner in Official Development Assistance (ODA) support.

Praising the RoK's efforts in promoting bilateral cooperation, President Phúc said amid the complicated international context, the two countries are still cooperating closely, including maintaining regular exchanges of high-ranking delegations to enhance political and diplomatic trust, periodically implementing dialogue mechanisms, and boosting cooperation in national defence and security.

Stressing that economic cooperation is always an important pillar in bilateral relations, President Phúc proposed the two sides pay more attention to promoting cooperation more effectively and practically; and effectively exploiting Việt Nam-RoK free trade agreement, the Regional Comprehensive Economic Partnership (RCEP) and strive to raise two-way trade revenue to US$100 billion by 2023 and $150 billion by 2030.

Việt Nam welcomes RoK investors to expand investment in the country, which currently reaches $80 billion, particularly in digital technology, renewable energy, infrastructure development and construction of specialised technological complexes and industrial and hi-end agricultural zones.

President Phúc said that Việt Nam is always a safe and stable destination and creates a favourable environment for RoK businesses to commit long-term investment in Việt Nam for cooperation and development.

He said he hopes South Korea would continue providing ODA for Việt Nam. — VNS.