Vietnam & South Korea target bilateral trade of $150bln by 2030

The Ministry of Finance has committed to accompanying and creating the necessary conditions for businesses from Vietnam and the Republic of Korea (RoK) to raise two-way trade turnover to $150 billion by 2030, Minister of Finance Ho Duc Phoc has said.

Addressing a financial investment promotion conference in Seoul on March 7, Minister Phoc said the gathering is aimed at creating a practical dialogue channel to help South Korean businesses and investors understand more about the Vietnamese Government’s renewal policies and determination and to strengthen their confidence in the country’s potential and development.

South Korea remains the largest foreign investor in Vietnam, and Vietnam welcomes South Korean businesses to invest and expand their investment scale in the country, he said.

Mr. Kim Young-Jae, Standing Member of South Korea’s Financial Supervisory Commission, committed to accompanying and promoting cooperation as well as sharing experience with Vietnamese management agencies to boost investment activities by businesses in the two countries.