Ambassador Vu Ho: Many opportunities to expand the innovation network in APEC

Vietnamese Ambassador to Korea Vu Ho said that Vietnam has many opportunities to promote business exchanges and expand cooperation between localities within the framework of APEC's innovation network.

Vietnamese Ambassador to Korea Vu Ho. (Source: Vietnamese Embassy in Korea)

Over the past time, the Vietnam-Korea relationship has maintained a positive development momentum with many highlights. How does the Ambassador assess the current cooperation process and the new driving forces opening up for bilateral relations, especially in the context of APEC 2025 with the theme "Building a sustainable future: Connectivity - Innovation - Prosperity"?

Vietnam-Korea relations are at their best since the two countries established diplomatic relations in 1992. After more than three decades of dynamic development, Vietnam-Korea have become Comprehensive Strategic Partners, demonstrating high political trust, deep economic cooperation and extensive people-to-people exchanges.

South Korea is currently the largest direct investor, third largest trading partner and largest bilateral ODA donor of Vietnam. By the end of 2024, South Korea's total investment capital in Vietnam will reach over 85 billion USD; two-way trade turnover will exceed 80 billion USD, aiming for the target of 100 billion USD in the next few years.

In addition, cooperation in many new fields such as digital transformation, innovation, clean energy, smart cities, cultural industry and green tourism is opening up new development drivers.

Regarding people-to-people exchanges, the community of more than 350,000 Vietnamese people in Korea and about 250,000 Koreans in Vietnam are creating a strong bridge of friendship. Cultural exchange programs, local linkages and educational exchanges have become the foundation of the bond between the two peoples.

The bilateral relationship today is not only relevant but also contributes to realizing the spirit of APEC 2025: “Building a sustainable future: Connectivity – Innovation – Prosperity”. Both sides share the aspiration for development based on innovation, sustainable growth and inclusive cooperation. This will be an important foundation for the two sides to coordinate more closely, preparing for Vietnam to host APEC in the coming time.

It can be said that APEC is one of the cradles that helps the Vietnam-Korea relationship become more sustainable, innovative and flexible.

Putting Vietnam in the APEC 2025 theme story, according to the Ambassador, what opportunities can we find and how can we take advantage of them from this important regional event?

In a changing world, APEC 2025's choice of the theme "Connectivity - Innovation - Prosperity" shows the general orientation of enhancing cooperation, sustainable recovery and creative development.

For Vietnam, this is an important opportunity to consolidate its position, expand its development space and mobilize resources for strategic goals. In my opinion, Vietnam has three great opportunities to exploit from APEC 2025:

First , strengthen regional economic integration and participate more deeply in the global value chain. APEC is an ideal space to promote trade links, connect infrastructure and attract strategic investment projects, especially in areas such as electronics, semiconductors, renewable energy, logistics and the digital economy.

Second , attract cooperation in innovation and green transformation. Through cooperation with APEC economies that are strong in technology – of which Korea is an important partner – Vietnam can receive advanced technology, train high-quality human resources and build a foundation for green growth.

Third , enhance Vietnam's image and role in the international arena. APEC 2025 is an opportunity for Vietnam to affirm its role as a dynamic, creative and responsible member, while creating a solid stepping stone towards hosting APEC in the future. Vietnam will carefully prepare in terms of content, organization and initiatives so that APEC truly becomes a new mark of Vietnam in regional cooperation.

Vietnam will take advantage of this opportunity by proactively proposing new initiatives, strengthening innovation network linkages within APEC, promoting business exchanges and expanding cooperation between localities – which are currently “laboratories” for green growth models and smart cities.

Prime Minister Pham Minh Chinh attended the Vietnam - Korea Business Forum in July 2024 in Seoul.

APEC 2025 emphasizes the trend of cooperation in innovation, green transformation and sustainable development. Could you please assess the potential for cooperation between Vietnam and APEC economies in that trend, especially cooperation between localities and businesses?

Vietnam has great potential for cooperation with APEC economies, especially with Korea. Vietnam is strongly transforming its growth model from “width to depth”, with three pillars of innovation, green transformation and digital transformation. These are areas in which Korea has strengths and is very willing to cooperate.

In recent years, many Korean enterprises have expanded their investment in Vietnam not only in manufacturing, but also in research and development (R&D), renewable energy, batteries, green hydrogen and digital technology. Vietnam welcomes this trend and hopes to expand cooperation in a two-way direction – co-innovation, co-development.

Regarding local cooperation, the two countries currently have more than 70 pairs of twinning and local-level cooperation relationships, spanning from Hanoi - Seoul, Ho Chi Minh City - Busan, Da Nang - Gyeongju, Hai Phong - Ulsan, Quang Ninh - Jeonnam... Localities have become direct hubs connecting businesses, universities, startup centers and are the leading force in substantive cooperation.

In the coming time, Vietnam wishes to promote three main directions of cooperation including:

Firstly , establish the “Vietnam – Korea – APEC Innovation Cooperation Corridor”, connecting research centers, high-tech zones and start-up incubators between the two countries.

Second , develop small and medium-sized enterprise linkages in APEC, especially in the fields of clean energy, green logistics and cross-border e-commerce.

Third , promote smart urban and digital economic cooperation at the local level, supporting Vietnamese provinces and cities to learn the green - clean - modern development model of Korean localities.

These cooperations not only help improve the competitiveness of Vietnamese enterprises and localities, but also serve as practical preparations for Vietnam's future hosting role, when we can present and share effective cooperation models "right at home".

What is Vietnam's role in promoting APEC 2025 initiatives, while deepening relations with APEC partners in the new period?

Vietnam is an active, dynamic and responsible member of APEC, with many practical initiatives on inclusive development, regional connectivity and support for small and medium enterprises. Such success has helped Vietnam gain valuable experience to further contribute to APEC 2025 and prepare well for APEC 2027.

In the coming period, Vietnam can contribute in three main directions:

Firstly , propose an initiative for cooperation in green transformation, clean energy and circular economy. Vietnam is vigorously implementing the Green Growth Strategy, committing to achieving net zero emissions by 2050. We can share experiences and mobilize technological, financial and intellectual resources from APEC economies – of which Korea is a key partner.

Second , contribute initiatives on innovation, digital transformation and inclusive development. Vietnam and Korea can jointly propose the “APEC Innovative Enterprise Network” initiative, connecting start-ups, research institutes and technology centers, creating conditions for young businesses in the region to develop together.

Third , promote the role of a bridge between Northeast Asia and Southeast Asia. With its important geostrategic position and good relations with regional partners, Vietnam can play an intermediary role in promoting cooperation, contributing to maintaining peace, stability and prosperity in Asia-Pacific.

In particular, Vietnam hosting APEC 2027 is not only an honor but also a great responsibility. This will be an opportunity for Vietnam to demonstrate its leadership role and contribute practical initiatives on “Green Growth – Innovation – Inclusive Cooperation”, while strengthening the comprehensive strategic relationship with Korea and other partners in APEC. Vietnam wishes to coordinate closely with Korea from now on to prepare for APEC 2027 – a year expected to mark a new turning point in regional and bilateral cooperation.

I believe that with a solid foundation and a common vision for the future, the Vietnam-Korea relationship will continue to develop strongly, contributing positively to the success of APEC 2025, while creating an important stepping stone for APEC 2027 in Vietnam to become a sustainable mark of regional cooperation “Connection – Innovation – Prosperity for a sustainable future”.

Thank you very much, Ambassador!

Source: https://baoquocte.vn/dai-su-vu-ho-nhieu-co-hoi-mo-rong-mang-luoi-doi-moi-sang-tao-trong-apec-332746.html