Vietnam requests a $2 billion loan from South Korea for strategic infrastructure.

On the afternoon of July 2nd, during his official visit to South Korea, Prime Minister Pham Minh Chinh met with South Korean President Yoon Suk Yeol.

Prime Minister Pham Minh Chinh met with South Korean President Yoon Suk Yeol.

President Yoon Suk Yeol expressed his pleasure at meeting Prime Minister Pham Minh Chinh again and warmly welcomed the Prime Minister's official visit.

For his part, Prime Minister Pham Minh Chinh affirmed that Vietnam supports South Korea's major policies and is ready to continue to cooperate closely to achieve even greater success for both Vietnam and South Korea.

The Prime Minister also informed President Yoon Suk Yeol about the important results achieved during the talks between the two prime ministers, including major directions. To further promote the comprehensive strategic partnership to develop in a deeper, more substantive, and more effective manner.

The Prime Minister proposed that both sides continue to maintain and strengthen exchanges of high-level and other delegations; and continue to regularly implement existing cooperation mechanisms in the fields of diplomacy , defense, and security, in line with the level of the comprehensive strategic partnership.

The two leaders agreed to cooperate closely to deepen and enhance economic relations, thereby contributing to achieving the target of $100 billion in bilateral trade by 2025 and aiming for $150 billion by 2030.

The head of the Vietnamese government proposed that the two sides cooperate to encourage Korean businesses to increase investment in semiconductors, digital transformation, green transformation, and biotechnology.

In particular, we propose that the South Korean government increase investment in high-tech, high-value-added projects; and cooperate in training human resources in the fields of semiconductors, hydrogen, and artificial intelligence (AI).

The Prime Minister also proposed promoting loans through the $2 billion Economic Development Promotion Fund (EDPF) and providing non-binding loan conditions for loans from the $2 billion Economic Development Cooperation Fund (EDCF) to develop strategic infrastructure such as high-speed rail lines.

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President Yoon Suk Yeol stated that Korean businesses consider Vietnam a promising investment destination. Many businesses have already invested in Vietnam, creating a favorable investment ecosystem.

Prime Minister Pham Minh Chinh meets with President Yoon Suk Yeol

President Yoon Suk Yeol requested that the Vietnamese government create favorable conditions for Korean businesses to participate in key projects, including those in energy and gas-fired power (LNG) projects. He also affirmed support for training human resources in Vietnam to serve the development of the semiconductor and high-tech industries, as well as the cultural industries.

Both sides agreed to expand cooperation in culture, education, and tourism, strengthen cooperation between localities and people-to-people exchanges to create closer ties and understanding between the people of the two countries. In addition, they agreed to cooperate closely in protecting the legitimate rights of citizens of each country in the other, helping them to settle down and ensure their safety; and to provide support for Vietnamese-Korean multicultural families.

During the meeting, Prime Minister Pham Minh Chinh and President Yoon Suk Yeol agreed to continue close cooperation and mutual support in international and regional forums of common interest; and to further strengthen cooperation within ASEAN frameworks such as ASEAN-Korea and Mekong-Korea.

President Yoon Suk Yeol highly appreciated Vietnam's excellent performance in its role as the coordinating country for ASEAN-Korea relations and requested continued support for upgrading ASEAN-Korea relations to a comprehensive strategic partnership. He welcomed Vietnam's and ASEAN's stance on the South China Sea issue, contributing to maintaining peace, stability, and development in the region.

Vietnam will have the highest growth rate in the region.

Meeting with Prime Minister Pham Minh Chinh on the afternoon of July 2nd, Kim Jin Pyo, Chairman of the Global Innovation Research Association of Korea and former Speaker of the National Assembly of Korea, highly appreciated the decisive and effective leadership and management of the Vietnamese Government and the strong development of the Vietnamese economy in recent years. He predicted that GDP growth in 2024 could reach 6%, the highest in the region.

The Prime Minister receives Kim Jin Pyo, Chairman of the Korea Global Innovation Research Association.

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Source: https://thanhnien.vn/de-nghi-han-quoc-cho-vay-2-ti-usd-lam-ha-tang-chien-luoc-185240702202712777.htm