Korean businesses want to participate in North Korea high-speed railway project

Affirming that Korean enterprises have placed their trust in Vietnam, the Chairman of KoCham hopes that Korean enterprises can participate in key projects such as the North-South high-speed railway, nuclear power... from design, manufacturing... to human resource training.

On the morning of March 4, Prime Minister Pham Minh Chinh chaired a discussion with large Korean corporations and enterprises.

Prime Minister Pham Minh Chinh with large Korean corporations and enterprises (Photo: VGP/Nhat Bac).

At the seminar, Mr. Ko Tae Yeon, Chairman of the Korean Chamber of Commerce in Vietnam (KoCham) assessed that in 2024, Vietnam attracted impressive FDI in the context of a difficult global economy, including attracting 7 billion USD of investment from Korea, an increase of 37.5% compared to 2023; bringing the cumulative investment of Korea in Vietnam to 92 billion USD.

There are currently about 10,000 Korean enterprises operating in Vietnam, creating more than 900,000 jobs, actively contributing to Vietnam's socio-economic development.

These results are affirming Vietnam's important position and role in the global supply chain, reflecting the strong development of the Vietnam - Korea cooperative relationship.

Mr. Ko Tae Yeon, Chairman of the Korean Chamber of Commerce in Vietnam (KoCham) (Photo: VGP).

According to Mr. Ko Tae Yeon, in the future, for Vietnam to become a leading country in the high-tech field, attracting FDI investment in the fields of semiconductors, artificial intelligence (AI), green energy, etc. is increasingly important.

Korean businesses are willing to cooperate closely to promote these fields in the coming time.

KoCham and Korean enterprises are always reliable partners, wishing to contribute to the development of Vietnam in its journey to become a global investment center, developing a sustainable green economy and innovation.

In the context of many difficulties, up to 82% of Korean enterprises believe that the Vietnamese Government will effectively respond to external fluctuations. Korean enterprises have faith in Vietnam's diplomatic capacity and FDI support policies in the coming time.

KoCham Chairman hopes that Korean enterprises can participate in key projects such as the North-South high-speed railway, nuclear power... from design, manufacturing... to human resource training.

Also at the seminar, Korean corporations and enterprises mentioned investment opportunities and made recommendations in fields such as semiconductors, high technology (Samsung, LG, Hana Mircon Vina); green energy (SK, Hanwha, Asong); high-tech industries such as automobiles, LNG, electric vehicle batteries (Hyundai Thanh Cong, Posco); biotechnology, advanced materials (Hyosung); services, logistics (CJ, Lotte) ...

Mr. Na Ki Hong, General Director of Samsung Vietnam, assessed that the Decree on Investment Support Fund was issued with strong will and active support from the Vietnamese Government, and was highly appreciated by many foreign investors, considering this the result of efforts that clearly demonstrate the protection of investors and trust in the Government.

Prime Minister Pham Minh Chinh speaks at the seminar (Photo: VGP).

Concluding the discussion, Prime Minister Pham Minh Chinh spent a lot of time responding specifically to the concerns, worries, and suggestions of the delegates.

Expressing his wish that Korean enterprises and investors continue to do better in cooperation, investment, production and business activities in Vietnam, the Prime Minister asked Korean enterprises to accompany the Government and Vietnamese enterprises to expand investment in new technology projects, high technology, advanced technology, clean technology, high added value, tourism development, cultural and entertainment industries, etc.

Along with that, we will strengthen exchanges, continue to maintain and expand cooperation to strengthen the supply chain, ensure stable production activities; Korean enterprises will participate in Vietnam's production ecosystem, on the principle of mutual benefit.

At the same time, share experiences and promote the startup ecosystem such as encouraging venture capital funds, connecting startups of the two countries; actively participate in Vietnam's innovation centers, and form research and development (R&D) centers.

Scene of the discussion session (Photo: VGP).

Large Korean corporations support Vietnam in establishing scientific research and innovation centers; consider sending Korean experts and high-quality human resources to work in Vietnam; and actively receive skilled Vietnamese workers to work in Korea.

The Prime Minister affirmed that the Vietnamese Government is committed to ensuring that the foreign-invested economic sector is an important component of the Vietnamese economy, ensuring the legitimate and legal rights and interests of investors, and ensuring political stability, social order and security, institutions, mechanisms, and policies to attract investment.

Prime Minister shares about Vietnam - US economic relations

In response to the concerns of Korean businesses about the Vietnam-US economic relationship, US policies and Vietnam's responses and solutions, Prime Minister Pham Minh Chinh said that the two economies of Vietnam and the US are complementary to each other, not fiercely competing but competing fairly; the two countries are comprehensive strategic partners, with many ties and characteristics different from other partners.

Vietnam has also proactively and actively contacted US authorities, sectors and enterprises to continue to strengthen cooperation, mutual understanding and sharing of advantages and difficulties, promoting economic cooperation on par with the Comprehensive Strategic Partnership.

At the same time, Vietnam is also actively removing obstacles for US partners in a fair, reasonable manner, in accordance with the regulations and laws of both sides. The Ministry of Finance is reviewing reasonable and harmonious tax policies to ensure the interests of both sides.

This week, the Government will hold a meeting to review and propose new policies in line with current US policies, promoting trade in a more balanced direction.

According to the Prime Minister, in relations with each partner, in each different period, there will be different concerns and sharing, the very important thing is to grasp the situation, respond appropriately, promptly, flexibly and effectively.

Source: https://www.baogiaothong.vn/doanh-nghiep-han-quoc-mong-muon-tham-gia-du-an-duong-sat-toc-do-cao-bac-nam-192250304144748231.htm