Many Korean corporations want to expand investment
On the morning of July 1, the Prime Minister and ministers had a discussion with large Korean enterprises investing in Vietnam.
Prime Minister Pham Minh Chinh talks with representatives of Korean enterprises on the morning of July 1.
According to Mr. Jung In-sub, CEO of Hanwha Aerospace, this group has invested in a factory producing aircraft engines and components to supply global customers in Hoa Lac High-Tech Park ( Hanoi ) with a total capital of more than 200 million USD. This company wants to expand its scale of operations and participate in the aircraft repair and maintenance chain. "Vietnam currently has a large demand but airlines have to go abroad to countries like the US or Singapore for maintenance," said Mr. Jung In-sub.
In response, Prime Minister Pham Minh Chinh welcomed Hanwha Aerospace's idea of participating in aircraft maintenance and said that the group could cooperate with major Vietnamese airlines such as Vietnam Airlines and Vietjet Air. "Vietnam is developing its aviation economy, its aircraft fleet is growing stronger. Besides, we are building new airports such as Long Thanh, Chu Lai, expanding Noi Bai, the need for maintenance is very large," the Prime Minister informed.
At the seminar, Mr. Huh Yong-soo, Chairman of GS Energy Company, said that he had invested in the Long An power plant with a scale of 3 billion USD. In 2021, the company was granted an investment certificate and by September 2023, a pre-feasibility report had been prepared. Expressing hope that this project will be launched as soon as possible and provide electricity to Vietnam, Mr. Yong-soo hoped that the Vietnamese side would provide legal support.
The proposals of Korean enterprises received specific responses from the leaders of the Ministry of Industry and Trade, the Ministry of Finance, and the State Bank of Vietnam. Particularly emphasizing to Korean enterprises, Prime Minister Pham Minh Chinh conveyed a message calling for joint efforts to promote "new cooperation horizons" on the basis of comprehensive cooperation between the two countries in the future, striving for a trade turnover of 100 billion USD by 2025.
The message of "new cooperation horizons" continued to be reiterated by the Prime Minister at the Vietnam - Korea Business Forum on the same morning, with the participation of nearly 350 Korean enterprises and 180 representatives of Vietnamese enterprises and leaders of ministries and sectors.
At the forum, Mr. Cho Hyun-sang, Chairman of the Korea-Vietnam Economic Cooperation Committee, shared that the two countries have established an inseparable economic partnership, especially since the establishment of the Comprehensive Strategic Partnership. Exchanges between the two countries have increased in both breadth and depth. Korea has become the third largest trading partner after China and the US, and the largest FDI investor. One in four foreigners coming to Vietnam is Korean.
"Korean tourists have given Da Nang a special nickname, showing their love for Vietnamese tourism," said Cho Hyun-sang, adding that the two countries need to orient their relationship for the next 30 years in the same way they have built bilateral relations over the past 30 years.
"Work together, win together and enjoy together"
Mr. Ahn Duk-geun, Minister of Industry, Trade and Resources of Korea, said that 30 years of establishing diplomatic relations compared to human age is 30 years old, daring to face new challenges. This is the time to prepare for the next 30 years to expand trade and investment to increase turnover to 100 billion USD by 2025. He said that Korean enterprises want to expand investment cooperation in the fields of infrastructure and energy.
Vietnam has abundant resources, especially rare earths, while Korea has advantages in technology and great potential for mutual support. In addition, cooperation in the fields of energy and climate change is also promoted when Vietnam is the first country with which Korea has signed a memorandum of understanding on energy. Korea can share its experience in operating nuclear power plants, ensuring a stable supply of electricity for Vietnam.
"I would like to share with businessmen the saying that Prime Minister Pham Minh Chinh often mentions: work together, win together and enjoy together," Minister Ahn emphasized.
On the Vietnamese side, Mr. Luu Trung Thai, Chairman of the Board of Directors of MB Bank, also said that businesses of both sides need to do something to quickly implement cooperation, based on two factors. The first is trust and cooperation, as the Koreans say "before doing business, you must be friends". The second is how to develop the value chain, when the trend of production shifting from China to other countries. "We are ready to cooperate and point out partners who ensure the capabilities from Vietnam", Mr. Thai said.
According to Prime Minister Pham Minh Chinh, with a focus on expanding investment, diversifying supply chains, production chains, and cooperation to open up new development horizons, Vietnam and Korea need to promote technology transfer, especially modern and advanced technology, supporting Vietnamese enterprises to participate in global supply chains and smart governance. The Prime Minister also encouraged Korean enterprises to invest in emerging and important fields such as digital economy, green economy, circular economy, knowledge economy, and sharing economy, because the room for cooperation in these fields is huge, especially in industries such as semiconductor chips, artificial intelligence, hydrogen, cultural industry, entertainment, etc.
Korean cultural wave is a model for Vietnam
At the Vietnam-Korea Tourism Promotion and Cultural Cooperation Forum, Second Deputy Minister of the Ministry of Culture, Sports and Tourism of Korea Jang Mi-ran said that the two countries' cooperation in the field of tourism has reached an amazing level. Last year alone, there were about 3.6 million Korean visitors to Vietnam. Vietnamese visitors to Korea also had the highest number among Southeast Asian countries with 420,000 people.
According to Prime Minister Pham Minh Chinh, this is the first time a bilateral cultural cooperation and tourism promotion forum has been held with such a scale, with substantive and effective exchange content. Over the past 30 years, the relationship between the two countries has made remarkable progress. In particular, cooperation in tourism and culture is a bright spot. With open policies such as extending the length of stay for Korean tourists from 15 days to 45 days, the Prime Minister set a goal that the two sides will bring Vietnamese and Korean tourism to a new level, striving to soon reach a total of 5.5 million visitors.
According to Prime Minister Pham Minh Chinh, over the past 30 years, South Korea has made great strides in the cultural industry with the "Korean wave". The Prime Minister shared that almost every day there are Korean films broadcast on Vietnamese television channels. Many Korean bands are especially loved by young people.
"Korea's experience and success will be valuable lessons for Vietnam's cultural industry, which is just beginning to develop," the Prime Minister emphasized, adding that Vietnam is building a strategy for developing cultural industries until 2030, with a vision to 2045, with the spirit of promoting the internationalization of national cultural values and identities to the world and the quintessence of world culture to Vietnam.
Also within the framework of yesterday's activities (July 1), Minister of Labor, Invalids and Social Affairs Dao Ngoc Dung said that labor cooperation between Vietnam and Korea has been going on for 32 years, becoming one of the focuses of cooperation between the two countries. The number of Vietnamese workers in Korea is currently about 120,000, of which about 50% follow the Korean Employment Permit Program for Foreign Workers (EPS Program). In particular, hundreds of Vietnamese workers have returned from Korea, many of whom have become bosses.
"Most Vietnamese workers after 4 years of working in Korea have matured and become important human resources in large Korean corporations," said Minister Dung.
Source: https://thanhnien.vn/chan-troi-hop-tac-moi-viet-nam-han-quoc-185240701233639093.htm
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