On the morning of July 3, on the last working day of his visit to Korea, Prime Minister Pham Minh Chinh spent time meeting with leaders of large Korean corporations and enterprises with the hope of listening to proposals, investment plans in Vietnam as well as recommendations from these enterprises.
Receiving Mr. Sohn Kyung Sik, Chairman of CJ Group (a multinational corporation operating in the fields of food, food services, biotechnology, logistics, retail, and culture), the Prime Minister congratulated the group on its good business in Vietnam and hoped that the group would continue to expand its investment in Vietnam in a more quality direction.
This group invested in Vietnam since 1998 with a total investment capital of 1 billion USD, currently has 24 member companies in Vietnam.
Prime Minister Pham Minh Chinh asked the group's leaders to focus on improving technology to reduce emissions, develop a sustainable livestock industry and produce quality products that meet Vietnamese standards.
Hoping that the group will continue to expand its investment in Vietnam, the Prime Minister affirmed: "Vietnam will ensure policies for businesses to succeed together."
POSCO wants to participate in rare earth mining, LG expands investment in Hai Phong
At the meeting with Mr. Chang InHwa, Chairman and CEO of Posco Group (top 5 business enterprise in Korea, with 4 steel branches in Vietnam), the group's leaders expressed their desire to the Prime Minister to exploit rare earth in Vietnam and requested the Government's support.
According to Mr. Chang InHwa, Vietnam owns the second largest rare earth reserves in the world (after China) and Posco is a multinational corporation with modern advanced extraction technology. Therefore, POSCO hopes that the two sides will cooperate to contribute to Vietnam's economic development and stabilize the global value chain.
Prime Minister Pham Minh Chinh said that many major countries are currently interested in researching rare earths in Vietnam. The government will work with the group to research and discuss solutions for rare earth exploitation in the spirit of respecting the equal rights of investors.
The head of the Vietnamese Government encouraged the group to innovate technology to minimize environmental impact and improve efficiency and sustainable exploitation.
Regarding the proposal to convert from a specialized port to a commercial port, the Prime Minister said that this will be carried out according to the planning and asked the group to study and propose.
“We will respond in a way that is beneficial to both sides,” said Prime Minister Pham Minh Chinh.
Receiving Mr. Cheol Dong Jeong, CEO of LG Display, Prime Minister Pham Minh Chinh thanked the corporation for its large investment in Vietnam and asked LG to create conditions for Vietnamese enterprises to participate in LG's production and supply chain; invest in the direction of developing the digital economy, green economy, and circular economy.
Mr. Cheoldong Jeong said that Vietnam is one of LG's main production bases. LG's products in Vietnam are exported to many countries around the world, bringing great investment results through quality investment.
According to him, LG's current investment capital in Vietnam is more than 5 billion USD, focusing on investing in new technology. In addition, the group is implementing a 4 billion USD investment expansion project in Hai Phong.
Prime Minister Pham Minh Chinh affirmed that he will build open policies, create favorable conditions for investors as well as contribute to the rapid and sustainable development of Vietnam's economy.
The Head of Government suggested that LG expand its production and business activities in Vietnam, especially building LG research and development centers in Vietnam, contributing to Vietnam's rapid and sustainable economic development.
Daewoo invests in second new urban area in Thai Binh
Receiving Mr. Jung Won Ju, Chairman of Daewoo E&C Group and Chairman of the Korea Housing Construction Association, Prime Minister Pham Minh Chinh thanked the Group for its investment in Vietnam.
This is the first Korean construction company to establish a representative office in Vietnam in June 1991. In 2017, Daewoo E&C Vina Company was officially established, with a total investment of 1.3 billion USD, operating in the fields of investment, construction, and urban business, notably the Starlake City Tay Ho Tay project.
Mr. Jung Won Ju said that the Group has plans to relocate administrative agencies to this new urban area, but there are still some problems so he asked Vietnam to resolve them.
Talking about the plan to build a second new urban area in Thai Binh, he affirmed that Daewoo does not simply want to seek profit but also wants to bring Korean businesses to Vietnam, attracting investment to other localities in Vietnam.
Prime Minister Pham Minh Chinh informed that investing in new urban areas is also Vietnam's long-term strategy in the coming time.
The Prime Minister assessed Daewoo's plan to build an urban area in Thai Binh as a "wise choice" because Thai Binh is developing very quickly, with a coastal route connecting to Hai Phong and a highway connecting to Nam Dinh and Thai Binh.
Besides, Thai Binh is also a low-lying area, urban development here has many advantages.
The head of the Government also hopes that the group will develop green urban areas in Vietnam in the direction of "villages in cities, cities in villages".
In addition, the Prime Minister also received Mr. Huh Yoon Hong, Chairman and Mr. Huh Myung-soo, Senior Advisor of GS Engineering & Construction Corp (GS E&C).
This is a group that has been implementing real estate and transportation projects in Vietnam. These include Nha Be New Urban Area in Ho Chi Minh City; implementing Metro Line 1 Ben Thanh-Suoi Tien, Tan Son Nhat-Binh Loi-Outer Ring Road, Vam Cong Bridge, Vinh Thinh Bridge (Hanoi-Vinh Phuc), Hanoi-Hai Phong Expressway; constructing and operating construction material factories in Ba Ria-Vung Tau.
The Prime Minister requested the group to coordinate with Ho Chi Minh City and relevant agencies to quickly carry out procedures to promote project implementation; actively carry out social security activities and eliminate temporary and dilapidated houses in localities.
Also this morning, Prime Minister Pham Minh Chinh received Vice President and General Director of Celltrion Inc Hyoung Ki Kim and Chairman and CEO of KDB Bank Kang Seoghoon.
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