Prime Minister holds talks with major Korean businesses

On the occasion of his official visit to South Korea, on the morning of July 1, in Seoul, Prime Minister Pham Minh Chinh attended a breakfast discussion with leaders of several large Korean corporations in the fields of industry, energy, finance, information technology, medicine, etc.

Also attending were Minister of Foreign Affairs Bui Thanh Son; Minister, Head of the Government Office Tran Van Son; Minister of Planning and Investment Nguyen Chi Dung; Minister of Industry and Trade Nguyen Hong Dien; Minister of Finance Ho Duc Phoc; Minister of Agriculture and Rural Development Le Minh Hoan; Minister of Labor, War Invalids and Social Affairs Dao Ngoc Dung; Minister of Science and Technology Huynh Thanh Dat.

Prime Minister Pham Minh Chinh speaks at a discussion with leaders of several major Korean corporations. Photo: Duong Giang-VNA

Speaking at the seminar, Prime Minister Pham Minh Chinh said that after more than 30 years of establishment, the Vietnam-Korea relationship has never been as good as it is now, becoming each other's leading important partners in many fields. Korea continues to maintain its position as the number 1 partner in direct investment; number 2 in official development assistance (ODA), tourism and number 3 in labor and trade of Vietnam.

In 2023, the bilateral trade turnover between Vietnam and Korea will reach 76.1 billion USD. The total registered capital of direct investment from Korea in Vietnam will reach more than 87 billion USD, with about 10,000 projects. Currently, the Vietnamese community in Korea has about 300,000 people; meanwhile, the Korean community in Vietnam has about 200,000 people; the two countries have about 80,000 multicultural families.

Informing delegates about Vietnam's fundamental factors such as: national development policy, foreign policy, "4 no's" defense policy, preserving and developing culture, social security work, building the political system, anti-corruption work, etc., the Prime Minister said that in the context of the world situation with many difficulties, challenges, and fluctuations, Vietnam's macro-economy continues to be stable, core inflation is under control, major balances are guaranteed; public debt, government debt, and foreign debt are within the allowable threshold; the economy maintains a fairly good growth momentum, etc.

The Prime Minister hopes that Korean enterprises will continue to pay attention and expand investment cooperation activities in Vietnam to match the comprehensive strategic partnership between Vietnam and Korea.

Leaders of several major Korean corporations attended the discussion. Photo: Duong Giang-VNA

At the seminar, leaders of leading Korean corporations such as Hyundai Motors, GS Energy, Doosan Enerbility, KB Financial Group, Hana Financial Group, Shinhan Bank, MB Bank, POSCO International, TKG Taekwang, Seegene Medical Foundation... highly appreciated the investment and business environment in Vietnam; said that they are cooperating and investing effectively in Vietnam.

Korean corporations wish to continue investing in Vietnam in the fields of energy, especially renewable energy, LNG energy; aircraft engine manufacturing; shipbuilding; construction of synchronous and interconnected data centers, digitalization of public services; opening bank branches; public health care... Enterprises wish that Vietnamese ministries, branches and agencies continue to reform administrative procedures, ensure stable and diverse power sources; have policies to support the development of the above industries; support training and employment, land lease...

After answering and sharing with leaders of ministries and sectors about issues of concern and suggestions of major Korean corporations, concluding the discussion, Prime Minister Pham Minh Chinh expressed his joy and gratitude to Korean corporations, enterprises and investors for their trust and investment in business, contributing to the development of Vietnam in recent times; hoping that leading Korean corporations will continue to expand investment and cooperation with Vietnam, together promoting "new cooperation horizons", on the basis of a "global, comprehensive, and all-people" approach, towards the goal of increasing bilateral trade turnover to 100 billion USD by 2025 and 150 billion USD by 2030.

The Prime Minister suggested that in addition to cooperation in traditional fields, the two sides need to strengthen cooperation in developing digital economy, green economy, circular economy, sharing economy, knowledge economy, emerging industries such as artificial intelligence, in the fields of the fourth industrial revolution, etc.

The Prime Minister asked Korean corporations to continue supporting Vietnam in terms of financial resources, infrastructure construction, suggestions for perfecting institutions and policies, training high-quality human resources, and improving smart governance capacity (both corporate governance and national governance).

Prime Minister Pham Minh Chinh with leaders of several major Korean corporations. Photo: Duong Giang-VNA

Along with that, the Prime Minister asked Korean investors to continue to actively participate in social security work, support people in times of difficulty, natural disasters, people in remote, border and island areas; support Vietnamese enterprises to participate in the value chain of Korean enterprises and the global value chain.

The Prime Minister hopes and believes that in the spirit of “3 together” (listening and understanding together; sharing vision and action together; doing together, enjoying together, winning together, developing together); “harmonizing benefits, sharing risks”, investors and enterprises of Vietnam and Korea will make greater contributions to the relationship between the two countries, to the development of each country, bringing an increasingly better life to the people of the two countries.

At the same time, the Prime Minister assigned Vietnamese ministries, branches and localities to seriously absorb the opinions and recommendations at the seminar, especially on attracting investment, improving the business environment and enhancing competitiveness; thereby, creatively and effectively applying them to Vietnam's development practices.

The Prime Minister affirmed that the Vietnamese Government is committed to always listening, accompanying, supporting and creating all favorable conditions for foreign investors in general and Korean investors in particular to invest and do business conveniently, effectively and sustainably in Vietnam./.

Source: https://dangcongsan.vn/lanh-dao-dang-nha-nuoc/thu-tuong-toa-dam-voi-cac-doanh-nghiep-lon-cua-han-quoc-671361.html