On the morning of February 8, at the headquarters of the Ministry of Finance , Minister Ho Duc Phoc had a meeting and worked with Ms. Oh Youngju - Ambassador Extraordinary and Plenipotentiary of the Republic of Korea to Vietnam and the working delegation. Also attending the meeting were representatives of leaders of a number of functional units under the Ministry of Finance.
Speaking at the meeting, Minister Ho Duc Phoc said that currently, Korea is the country with the largest registered FDI capital invested in Vietnam with a registered capital of nearly 82 billion USD. In the field of ODA loans, Korea is the second largest Asian country investing in Vietnam. Vietnam has also signed 61 agreements with the Korean Government. Many large Korean economic groups have effectively invested in production and business in Vietnam such as Samsung, Lotte, Huyndai... The Minister hopes that cooperation between the two countries will develop further in the coming time.
Sharing an overview of Vietnam's macroeconomic situation in recent times, Minister Ho Duc Phoc said: In 2022, GDP growth reached about 8.02%, state budget revenue exceeded the estimate by nearly 28%, import-export turnover reached about 730 billion USD, trade surplus was more than 11.2 billion USD, inflation rate was more than 3.15% below the target assigned by the National Assembly, public debt ratio was nearly 39%. However, the Minister said that 2023 will face many challenges to Vietnam's economic development, especially the negative impacts of the world economy such as: increasing inflation, high prices of raw materials, geopolitical conflicts between Russia and Ukraine, narrowing export markets... Therefore, according to the Minister, Vietnam determined that it must proactively have solutions to overcome difficulties and challenges to complete the set goals. The Minister hopes that the coordination between the Ministry of Finance and the Korean Embassy will be a bridge for businesses of the two countries to produce and trade effectively.
Speaking at the meeting, Ms. Oh Youngju emphasized: Over the past 30 years, the cooperative relationship between Korea and Vietnam has developed very rapidly, including the brilliant development of economic cooperation. She said that the two countries are in a stage of better preparation for the cooperative relationship between Vietnam and Korea to develop further in the coming years.
Ms. Oh Youngju also agreed with Minister Ho Duc Phoc's assessment of the difficulties facing the world economy. In such a difficult context, Vietnam's rapid development and potential are receiving attention and attention from the whole world.
Ambassador Oh Youngju assessed: Vietnam and Korea are each other's biggest partners and will increasingly develop and cooperate more closely in the future. Many Korean enterprises investing in Vietnam through investment activities will contribute to the economic development of both countries. Ms. Oh Youngju said that in the coming time, both sides need to create more favorable conditions to support enterprises investing in production and business in Vietnam.
Also at the meeting, Minister Ho Duc Phoc and Ambassador Oh Youngju also exchanged and shared many contents about the Double Taxation Avoidance Agreement, Organizing the Conference of Directors General of the General Department of Taxation and Customs; Conference on Tax and Customs Policy Dialogue with Korean enterprises; ODA loans, as well as sharing difficulties and problems regarding global minimum tax... Thereby, deepening economic and financial cooperation, contributing to further strengthening the comprehensive cooperation relationship between Vietnam and Korea in the coming time.
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