PM proposes Korean firms to expand investment in Vietnam

Prime Minister Pham Minh Chinh called on Korean businesses to continue expand investment in and cooperation with Vietnam, thus contributing to achieving a target of $100 billion in the two-way trade turnover by 2025 and $150 billion by 2030.

He made the call at a meeting with 20 major businesses of South Korea which operate in the fields of industry, banking, energy, information technology, healthcare and pharmacy, in Seoul on July 1 as part of his official visit to the country.

The Vietnamese government always listens to, accompanies with, supports and provides best possible conditions for foreign investors in general and those from South Korea in particular to operate smooth, effective and sustainable business in Vietnam, he noted.

Leaders of South Korean firms such as Hyundai Motors, HD Hyundai Mipo,  GS Energy, Doosan Enerbility, Hanwha Aerospace, KB Financial Group, Hana Financial Group, Shinhan Bank, POSCO International, TKG Taekwang, and Seegene Medical Foundation spoke highly of the investment environment in Vietnam, saying that they have enjoyed effective cooperation, investment and business operations in Vietnam.

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

PM Chinh proposed the Korean firms to continue providing Vietnam with support in finance, infrastructure building, ideas for institution and policy perfection, high-quality human resources training, and smart governance.

The two-way trade between Vietnam and South Korea reached $76.1 billion last year. The South Korean direct investment in Vietnam totaled $87 billion with about 10,000 projects.