(MPI) - Deputy Minister of Planning and Investment Tran Duy Dong highlighted the ministry’s commitment to supporting enterprises of the Republic of Korea (RoK) that are investing and doing business in Vietnam while attending the Vietnam-RoK economic cooperation 2022 themed “Great Together, Next Prosperity 100” on December 16.

MPI Deputy Minister Tran Duy Dong speaks at the event. Photo: MPI

In attendance were Nguyen Duc Hai, Vice Chairman of the Vietnamese National Assembly; Oh Young Ju, RoK Ambassador to Vietnam; leaders of ministries, departments, localities of Vietnam, the Vietnam-RoK Friendship Association, the Vietnam-RoK Business Association and businesses of both countries.

Deputy Minister Dong said, the forum was held following President Nguyen Xuan Phuc’s recently concluded visit to the RoK, creating an opportunity for the two sides to exchange views on economic-investment-trade cooperation and open up connections for localities and businesses between Vietnam and the RoK.

“This made contribution to bringing economic and trade cooperation to a new high, heralding a stage of stronger, brighter and more substantive and comprehensive development”, he noted.

The RoK is the largest foreign investor in Vietnam with approximately 9,500 projects worth 80 billion USD. In the first eleven months of 2022, the RoK continued to invest in 370 projects with total capital of more than 4 billion USD.

The deputy minister highlighted many business activities and contributions made by RoK enterprises in the socio-economic development of Vietnam.  

Notably, many large firms of the RoK such as Samsung, LG, SK, Lotte have carried out large-scale projects, contributing to economic restructuring towards modernity and sustainability with a focus on such industries as high-tech, high value-added, energy projects, finance-banking and high-quality service.

“We believe that the RoK will continue to be a leading FDI partner of Vietnam, striving to lift two-way trade and accumulated investment capital to 100 billion USD by 2023”, Dong underscored.

At the event. Photo: MPI

The RoK Ambassador to Vietnam, Oh Young-ju said the relations between Vietnam and the RoK have been flourished at the highest level. Vietnam and the RoK upgraded ties to comprehensive strategic partnership following President Nguyen Xuan Phuc’s State visit to the RoK and the summit between the two Presidents.

She hoped that the forum will be a platform to review outstanding results in economic cooperation in the past 30 years, and seek for new opportunities for the next 100 years.

Since establishing diplomatic relations in December 12, 1992, the partnership between the RoK and Vietnam continue to flourish across all fields. The two sides lifted their relations twice, to comprehensive partnership in the 21st century in 2001, and then to a strategic cooperative partnership in 2009. And in December 2022, the countries agreed to upgrade their ties to a comprehensive strategic partnership during Vietnamese President Nguyen Xuan Phuc’s visit to the RoK.

Bao Linh

Ministry of Planning and Investment