"Many South Korean enterprises investing in Vietnam have created a favorable investment ecosystem"
- 190
- Enterprise
- 15:01 03/07/2024
"Many South Korean enterprises investing in Vietnam have created a favorable investment ecosystem", said President Yoon Suk Yeol, while requesting Prime Minister Pham Minh Chinh to facilitate the participation of South Korean businesses in Vietnam's
On the afternoon of July 2, Prime Minister Pham Minh Chinh met with South Korean President Yoon Suk Yeol. The Vietnamese government leader expressed support for South Korea's major policies and close cooperation for the mutual success of both countries.
President Yoon Suk Yeol stated that his country considers Vietnam a top priority partner in implementing regional policies, including the Indo-Pacific strategy and the ASEAN-Korea solidarity initiative.
"Many South Korean enterprises investing in Vietnam have created a favorable investment ecosystem," said Yoon Suk Yeol, while requesting Prime Minister Pham Minh Chinh to facilitate the participation of South Korean businesses in Vietnam's key projects, including energy and LNG projects.
At the meeting, Prime Minister Pham Minh Chinh expressed joy and deep emotion at meeting close and dear friends of the Vietnamese people. He emphasized that these friends have inherited, nurtured, and continually contributed to the Vietnam - Korea relationship over the past 30 years. The Prime Minister thanked them for their heartfelt and sincere remarks, which demonstrated a profound understanding of Vietnam as well as the relationship and cultural foundations between the two countries.
During the meeting, Prime Minister Pham Minh Chinh conveyed the warm regards of General Secretary Nguyen Phu Trong, President To Lam, and other senior Vietnamese leaders to President Yoon Suk Yeol. He expressed his pleasure at making his first official visit to South Korea as Prime Minister.
The Prime Minister thanked for the sincere and respectful reception and congratulated South Korea on achieving significant milestones under President Yoon's leadership, reflecting the vision of a "Global Pivotal Nation."
He highly appreciated President Yoon's decisive efforts in leading South Korea's economy back to positive growth, while continuously introducing policy initiatives that bring many benefits to the South Korean people.
He affirmed that Vietnam supports South Korea's major policies and is ready to continue close cooperation for greater success of both Vietnam and South Korea, for the benefit of their people, and to make responsible contributions to maintaining peace, stability, cooperation, and development in the region and the world.
Prime Minister Pham Minh Chinh informed President Yoon Suk Yeol of the important outcomes achieved during the talks between the two Prime Ministers.
Prime Minister Pham Minh Chinh also suggested that both sides continue to maintain and strengthen high-level exchanges and cooperation mechanisms in diplomacy, defense, and security, in line with the comprehensive strategic partnership.
The two leaders agreed to work closely to deepen economic relations in a substantive and effective manner, thereby contributing to the goal of achieving bilateral trade turnover of $100 billion by 2025 and aiming for $150 billion by 2030.
In this spirit, Prime Minister Pham Minh Chinh proposed that both sides cooperate to encourage South Korean enterprises to increase investment in semiconductors, digital transformation, green transition, and biotechnology.
The Prime Minister also proposed promoting loans through the Economic Development Promotion Fund (EDPF) worth $2 billion and non-binding loan conditions from the Economic Development Cooperation Fund (EDCF) worth $2 billion to develop strategic infrastructure such as high-speed rail construction.
President Yoon Suk Yeol appreciated Vietnam's outstanding role in coordinating ASEAN-Korea relations and asked for continued support to upgrade this relationship to a Comprehensive Strategic Partnership. He also welcomed Vietnam and ASEAN's stance on the South China Sea issue, aiming to contribute to peace, stability, and development in the region.
He affirmed support for training human resources for Vietnam to develop the semiconductor, high-tech, and cultural industries. South Korea will also support Vietnam in organizing the Partnering for Green Growth and the Global Goals 2030 (P4G) Summit in April 2025.
Both sides agreed to expand cooperation in culture, education, and tourism, strengthen local cooperation, and promote people-to-people exchanges to enhance the bond and understanding between the peoples of the two countries.
Prime Minister Pham Minh Chinh and his spouse are on a visit to South Korea from June 30 to July 3. This is the first official visit to South Korea by a senior Vietnamese leader since the two countries upgraded their relations to a Comprehensive Strategic Partnership in December 2022.
Minh Ha
Related news
#international cooperation
FPT collaborated with Taiwanese partners to research and establish semiconductor development fund
FPT Chairman Trương Gia Bình remarked, "The world cannot do without chips, and the semiconductor industry will not wait for any nation." He emphasized that companies like FPT must quickly join the global semiconductor supply chain.
"The extensive cooperation between India and Vietnam is a continuation of a long-standing historical relationship"
This is also the assessment of Dr. Majo George, an Indian lecturer currently teaching at RMIT University Vietnam, when considering the significance of the recent state visit of the Prime Minister of Vietnam to India.
Korean Multicultural Organization donated tablets to Quang An secondary school
Recently, the Korean Multicultural Organization donated tablets to Quang An secondary school for educational purposes.
Love In Hanoi - A cultural exchange event for Vietnamese and Korean youth
At the end of July, Quynh Nga Consulting & Trading Services (VKE Study Abroad) collaborated with the Korea Multicultural Organization to host the "Love In Hanoi" event, creating a space for cultural exchange between young people from Vietnam-Korea.
Vietnamese business association in the UK promotes Vietnam-UK economic cooperation
The Vietnamese Business Association in the UK (VBUK) recently held a member gathering event titled “VBUK Summer Together” in Hackney, London.
Opportunities and challenges for Vietnamese SMEs in the context of international integration
The challenges and opportunities for Vietnamese small and medium-sized enterprises (SMEs) in the context of international integration are increasing, requiring sensitivity and creativity.
Đọc thêm Enterprise
Hòa Phát Group leaders receive major pay hike during steel market crisis
Although the global steel industry is experiencing a crisis, Hòa Phát recorded a sharp increase in executive remuneration in the first half of 2024, with costs rising 3.4 times compared to the same period last year, reaching VND 112 billion.
Ho Chi Minh City: Economic recovery, yet the number of businesses exiting the market remains high
In the first eight months of the year, the number of businesses entering the market increased by 8.8%, but the number of businesses withdrawing also rose by 7.4%.
Businesses are the main actors and the greatest drivers of innovative startups
Dr. Đàm Quang Thắng – Chairman of the National Innovation Advisory Council has provided deep insights into the role of businesses within the innovative startup ecosystem.
General Secretary and President Tô Lâm: "Although it is a small and medium-sized business community, it is very large..."
On the afternoon of August 22, General Secretary and President Tô Lâm received a delegation of the Vietnam Association of Small and Medium Enterprises. This important and meaningful event was organized by the Business and Integration Magazine.
BIDV financed the construction of Cap Saint Jacques Complex in Vũng Tàu City
The signing ceremony for the credit contract to finance the project was organized by BIDV and the Development Investment Construction Joint Stock Corporation (DIC) — the project's investor — in Ho Chi Minh City on August 19, 2024.
The Vietnam Association of Small and Medium Enterprises honors an audience with the General Secretary and President Tô Lâm
On the afternoon of August 22, the VINASME will have the honor of meeting with the General Secretary and President Tô Lâm to report on the results of their activities. This significant event is organized by the Business and Integration Magazine.
Dr. Tran Xuan Luong: Real estate businesses lacking resources will be eliminated from the game
Dr. Tran Xuan Luong believes that real estate businesses that lack resources and strategy will certainly struggle to survive in the current competitive environment.
Tight control on foreign borrowing, businesses face more difficulties
Since 2022, borrowing foreign capital without government guarantees has become more difficult, and according to feedback from many businesses, part of the reason is the tight control policies on foreign borrowing from the State Bank of Vietnam.
Untying the knot of accessing investment capital for Vietnamese startups
The lifecycle of a startup is often shaped by funding rounds. Each funding round not only provides the necessary resources for the next stage of development but also serves as a milestone to assess the success and potential of the business.
Financial revenue - a bright spot for real estate enterprises
Financial revenue in the second quarter of 2024 has been an important bright spot, helping many real estate businesses maintain positive profits despite challenges from their core business activities, contributing to their financial stability.