Economic cooperation between Vietnam and Korea is blooming like never before

HEconomic cooperation continues to be a bright spot in Vietnam's relations - Korean

Deputy Prime Minister Le Minh Khai expressed his pleasure to meet South Korean Deputy Prime Minister and Minister of Economy and Finance Choo Kyung Ho on the occasion of the State visit to Vietnam by President Yoon Suk Yeol and just a few months later. when co-chairing the second Vietnam - Korea Vice Prime Minister-level Economic Dialogue.

Deputy Prime Minister Le Minh Khai said that during the State visit to Vietnam by President Yoon Suk Yeol, many representatives of Korean business leaders came to Vietnam; attend the Economic Forum; signed many cooperation documents.

This shows that economic cooperation between the two countries continues to be a bright spot in the Vietnam - Korea relationship. At the same time, the two countries are well implementing the results of the second Vietnam - Korea Deputy Prime Minister-level Economic Dialogue in March.

According to Deputy Prime Minister Le Minh Khai, Korea currently holds the number one position in terms of direct investment (accumulatively reaching $82 billion); number two on development cooperation, tourism and labor; third in terms of trade cooperation (reaching USD 86,4 billion in 2022). This result is thanks to the great efforts of the leaders of the two countries, as well as the business community and people. Including dialogues at the level of Deputy Prime Ministers of Vietnam - Korea.

Affirming that economic cooperation between the two countries is blossoming more than ever, Deputy Prime Minister Le Minh Khai reviewed the economic cooperation between the two countries in general and the implementation of the Deputy Prime Minister's Economic Dialogue. Vietnam - Korea for the second time in particular, thereby making a number of proposals to further promote cooperation between the two countries.

Tcontinue to promote economic cooperation in the direction of balance, sustainability and mutual benefit

Firstly, on politics, Deputy Prime Minister Le Minh Khai suggested the two sides continue to promote the exchange of high-level delegations and levels.

In the immediate future, successfully organize this State visit of President Yoon Suk Yeol and implement related results.

In particular, one of the most important contents is the effective implementation of the "Action Program between the two Governments on implementing the comprehensive strategic partnership between Vietnam and Korea".

Secondly, on economic cooperation, continue to promote economic cooperation in the direction of balance, sustainability and mutual benefit.

Specifically, on trade, The two sides signed the "Memorandum of Understanding on the establishment of Korea Plus in Vietnam and Vietnam Plus in Korea" and the "Joint Declaration on the establishment of an electronic origin data exchange system".

According to Deputy Prime Minister Le Minh Khai, these are very important prerequisites for relevant ministries of the two countries to further promote bilateral trade. This is especially important, especially in the context that the world economic situation in general and global trade in particular are facing certain difficulties.

Although trade cooperation has improved, the trade deficit from Korea is still very large. Therefore, the two sides also need to coordinate to implement measures to further open the market.

Deputy Prime Minister Le Minh Khai asked the RoK to create favorable conditions and loosen technical measures on food safety and animal and plant quarantine to promote exports of Vietnam's strong agricultural and aquatic products. South to the Korean market is stronger, more sustainable,…

Kencourage Korean enterprises to make new investments and expand the investment scale

Regarding investment, Deputy Prime Minister Le Minh Khai welcomed the signing of a Letter of Intent on cooperation to promote the startup ecosystem and exchange of human resources. Vietnam is very interested in nurturing start-ups and developing small and medium-sized enterprises, so that these businesses can become a solid foundation for the long-term development of Vietnam's economy.

Deputy Prime Minister Le Minh Khai emphasized: The Vietnamese government also encourages Korean businesses to make new investments and expand their investment scale, especially in priority areas such as infrastructure development, manufacturing. high-tech electronics, semiconductors, big data, biotechnology, smart cities; focus on transferring source technology.

Regarding ODA, Over the past time, development cooperation between Vietnam and Korea has developed very well. Vietnam highly appreciates the fact that Korea continues to consider Vietnam a "strategic partner" in ODA and development cooperation projects of the Republic of Korea, creating a driving force for socio-economic development in many regions and localities in the world. country.

It is suggested that Korea continue to further expand the scale of its grant aid to Vietnam, especially in the fields of research and development (R&D), innovation, etc.

Regarding labor cooperation, Deputy Prime Minister Le Minh Khai highly appreciated the signing of a Memorandum of Understanding between the two countries on sending and receiving laborers to work in Korea under the Employment Permit Program.

It is proposed that Korea increase the reception of Vietnamese workers and expand labor cooperation between the two countries, especially workers with professional qualifications (information technology, healthcare, etc.) Korea has needs (agriculture, services...); coordinate to well implement the bilateral Agreement on social insurance signed in 2022 to ensure social security for workers of the two countries working in each other's territories.

Regarding minerals, on the basis of the Memorandum of Understanding on the establishment of an important mineral supply chain center that the two sides will sign on this occasion, Deputy Prime Minister Le Minh Khai suggested the two sides soon open and effectively deploy activities of this Center.

Korea attaches great importance to cooperation with Vietnam

Mr. Choo Kyung Ho, Deputy Prime Minister and Minister of Economy and Finance of the Republic of Korea expressed his pleasure to meet with Deputy Prime Minister Le Minh Khai again.

He shared that at the 2nd Vietnam - Korea Deputy Prime Minister-level Economic Dialogue in March, Deputy Prime Minister Le Minh Khai received a very warm welcome. Korean officials believe that Vietnam is a very special partner.

Deputy Prime Minister Choo Kyung Ho said that the visit to South Korea's President Yoon Suk Yoel to Vietnam is the first visit to a Southeast Asian country, demonstrating Korea's respect for Vietnam. And during this visit, leaders of the two countries will sign many important documents.

On this occasion, Deputy Prime Minister Choo Kyung Ho thanked Deputy Prime Minister Le Minh Khai for taking measures to support Korean businessmen operating in Vietnam; agreed with the contents mentioned by Deputy Prime Minister Le Minh Khai on investment, trade, quarantine of agricultural products, etc., affirmed that he would try his best to come up with appropriate solutions.

Korean Deputy Prime Minister Choo Kyung Ho also mentioned contents related to electronic appliances, digital, green development, work permits, social insurance, mineral supply chain cooperation, ODA… At the same time, some recommendations related to the operation of Korean enterprises in Vietnam are also made.

Deputy Prime Minister Le Minh Khai expressed his delight at the very effective cooperation results between the two countries over the past time, leaving many good feelings; confirmed that much progress has been made after the 2nd Dialogue.

As for the remaining issues, Deputy Prime Minister Le Minh Khai affirmed that he will try in his power to promote as soon as possible. At the same time, he asked the Korean Deputy Prime Minister and Minister of Economy and Finance Choo Kyung Ho to continue paying attention to and directing Korean agencies to coordinate with Vietnamese agencies to promote the effective implementation of the results. results of the 2nd Dialogue meeting in the near future.

The two Deputy Prime Ministers expressed their deep impressions of the country and people, especially the cultural similarities between the two ethnic groups, Vietnam and Korea; look forward to meeting again soon at the 3rd Dialogue meeting scheduled for 2024.

Deputy Prime Minister Le Minh Khai wished Mr. Deputy Prime Minister cum Minister of Economy and Finance of the Republic of Korea Choo Kyung Ho and the Delegation a successful visit./.

Chinhphu.vn