Prime Minister Pham Minh Chinh hopes that Vietnamese and Korean enterprises will grow together with the development of the two countries, expecting that economic , trade and investment cooperation will have more breakthroughs in all aspects, achieving results 3-4 times higher than the current results.
On the afternoon of June 23, in Hanoi , Prime Minister Pham Minh Chinh and President of the Republic of Korea Yoon Suk Yeol attended the Vietnam - Republic of Korea Business Forum. Before that, Prime Minister Pham Minh Chinh chaired a discussion with major associations and corporations of the Republic of Korea.
The theme of the Vietnam - Korea Economic Forum 2023 is to look forward to 30 years of new relations, the Vietnam - Korea Industrial Cooperation Strategy in the future. At the same time, it focuses on global value chain (GVC) cooperation, digital transformation (DX) and climate change action program.
The Vietnam - Korea Economic Forum is organized by the Ministry of Planning and Investment of Vietnam; Ministry of Industry and Trade of Korea; and Korea Chamber of Commerce and Industry.
These are important events held within the framework of the State visit to Vietnam by the President of the Republic of Korea. Leaders of ministries, localities and about 500 enterprises, including about 300 Korean enterprises and 200 Vietnamese enterprises, attended the Forum.
Also attending the events were: Minister, Head of the Government Office Tran Van Son; Minister of Planning and Investment Nguyen Chi Dung; Minister of Industry and Trade Nguyen Hong Dien; Minister of Agriculture and Rural Development Le Minh Hoan.
Prime Minister Pham Minh Chinh and leaders of ministries and sectors listened to sincere and frank contributions and discussed recommendations and proposals for cooperation, investment and business ideas in Vietnam from Korean enterprises.
Hundreds of Korean businesses (including leaders of the top 5 Korean corporations) accompanied President Yoon Suk Yeol on his visit to Vietnam. This is the largest number of businesses in recent foreign visits by a Korean President.
Vietnam's success is also the success of Korean enterprises.
Opinions at the seminar and forum agreed that despite the impact of the COVID-19 pandemic, economic cooperation between the two countries is still developing strongly with impressive results.
In 2022, bilateral import-export turnover will reach nearly 87 billion USD. Korea is a major investor with nearly 82 billion USD in registered capital and nearly 9,600 valid direct investment projects in Vietnam.
There are currently 9,000 Korean enterprises investing in Vietnam, operating not only in traditional fields but also in emerging fields such as artificial intelligence, information technology, environment, green growth... with about 1.3 billion USD invested in renewable energy, green growth... Korean enterprises have made important contributions in a number of fields such as high technology, electronics industry, energy, automobiles, construction...
Korean enterprises highly appreciated Vietnam's strong development in recent times, and thanked the Vietnamese Government and ministries and branches for their support and facilitation, and for removing difficulties and obstacles for Korean investors.
The delegates affirmed their expectations for Vietnam's great development potential and the enhancement of trade and investment cooperation between the two countries in the coming time, affirming that they will continue to accompany Vietnam, considering Vietnam a strategic location, an important investment base globally with specific investment projects, especially in the context of many fluctuations in the international and global economic situation.
Chairman of Hyosung Group, Mr. Cho Hyun Joon said that the Group has invested more than 20 years in Vietnam with a total capital of about 20,000 billion Won (about 3.5 billion USD) and about more than 9,000 employees. Hyosung considers Vietnam a strategic and key market and in the coming time, the Group will continue to expand its scale and aim for sustainable development in Vietnam, especially in high-tech fields, and plans to continue to recruit 10,000 more employees in Vietnam.
Mr. Cho Hyun Joon commented that Korea's investment cooperation in Vietnam is a model that no other country has. "I always believe that Vietnam's development will go hand in hand with Korea's development. We want to contribute to the process and want to place the Group's future in Vietnam for the next 100 years," he emphasized.
According to Mr. Lee Jae-yong, Chairman of Samsung Group - a company that has invested 18 billion USD in Vietnam, also assessed that Vietnam's development is the development of Korean businesses, and Vietnam's success is the success of Korean businesses.
Exemplary partnership
At the Vietnam-Korea Business Forum, South Korean President Yoon Suk Yeol expressed his hope that the Korea-Vietnam relationship will be a model in the world. Many Vietnamese are learning Korean and many Koreans are learning Vietnamese.
Therefore, the two countries need to continue to elevate this relationship to cope with the unusual fluctuations taking place in the world. In the future, the fields of culture, people-to-people exchange, trade and investment between the two countries will all be strongly expanded.
The South Korean President said that the most urgent thing is for the two countries to further improve trade activities, bringing bilateral trade turnover to 150 billion USD by 2030. The two countries need to expand cooperation to other fields, while removing all barriers to this process. He hopes that businesses of the two countries will have many cooperation projects together.
Mr. Yoon Suk Yeol also said that Korea will support Vietnam in developing information technology and science and technology infrastructure. This requires very specific actions and strategies.
Vietnam and South Korea are countries that benefit from free trade and the two sides need to promote this, while strengthening cooperation in areas such as digital transformation, energy transformation, and renewable energy.
On the other hand, the Korean side will support the development of exchange activities between the two countries' young generations.
The President of the Republic of Korea emphasized the value of everlasting friendship and hoped that the cooperative and friendly relationship between Vietnam and the Republic of Korea will last as long as the Mekong River that never stops flowing.
Economic cooperation will be more breakthrough in all aspects.
Speaking at the Vietnam - Korea Business Forum and Seminar, Prime Minister Pham Minh Chinh expressed his gratitude to friends from Korea who have always accompanied the development of Vietnam over the past three decades, making an important contribution to nurturing and developing the relationship between the two countries.
The Prime Minister highly appreciated and thanked the Korean enterprises for their frank and sincere sharing about the business situation in Vietnam and their commitment to invest in Vietnam in new fields. This is a clear demonstration of the companionship, trust, understanding and sharing of Korean enterprises with Vietnam in the spirit of harmonious benefits, shared risks, and determination to overcome difficulties for development.
"Thirty years ago, we could not have imagined that the relationship between the two countries would achieve the results it has today, and I hope that in the future, Vietnamese and Korean businesses will grow together with the development of the two countries, economic, trade and investment cooperation will have more breakthroughs in all aspects, achieving results 3-4 times higher than the current results on the occasion of the two countries celebrating 60 years of diplomatic relations, worthy of a comprehensive strategic partnership, bringing practical benefits to the people of the two countries, contributing to helping the relationship between the two countries increasingly bear fruit," the Prime Minister shared.
The Prime Minister said that after more than 35 years of implementing the Doi Moi process, Vietnam has achieved important and historic achievements. The economic scale reached 409 billion USD; per capita income is more than 4,100 USD. Import-export turnover in 2022 reached more than 730 billion USD, belonging to the group of countries with large trade scale in the world. Vietnam has signed 15 free trade agreements (FTAs) and prepared 1 more FTA, making 16 FTAs with more than 60 countries and territories. At the same time, Vietnam has become an attractive investment destination with about 37,000 FDI projects in operation, with a total capital of more than 440 billion USD from investors from 143 countries and territories around the world.
Vietnam develops the country based on three pillars: building socialist democracy, a socialist rule-of-law state, and a socialist-oriented market economy. In that process, the consistent viewpoint is to consider people as the center, the subject, the goal, the resource, and the driving force of development. Vietnam does not sacrifice the environment, progress, fairness, and social security to pursue economic growth alone.
In the context of a rapidly changing, complex and unpredictable world, Vietnam is determined to implement an independent, self-reliant, diversified and multilateral foreign policy, to be a good friend, a reliable partner and a responsible member of the international community; determined to build an independent and self-reliant economy, associated with proactive and active international integration, comprehensively, extensively, substantially and effectively.
Vietnam is prioritizing the implementation of three strategic breakthroughs (institutions, infrastructure and human resources); promoting economic restructuring and industrialization and modernization based on science, technology and innovation, prioritizing sustainable growth drivers such as digital economy and digital transformation, green growth, and circular economy.
Proposal for strategic and sustainable investment in Vietnam
Prime Minister Pham Minh Chinh stated that in that process, Vietnam welcomes the active participation of foreign investors, especially Korean enterprises. Vietnam's current investment attraction orientation is selective, prioritizing the fields of green economy, digital economy, circular economy, knowledge economy, taking science, technology and innovation as the foundation, taking quality, efficiency, technology and environmental protection as the main evaluation criteria, in line with Vietnam's Green Growth Strategy, meeting the requirements of sustainable development.
Accordingly, Vietnam encourages Korean enterprises to invest in Vietnam in potential fields such as innovation, digital transformation, biotechnology, electronics, semiconductors, clean energy, green economy, smart cities, high-tech agriculture, etc. In particular, the Prime Minister hopes that Korean enterprises will increase investment in the fields of cultural industry and entertainment industry. These are also fields in which Korea has strengths and this cooperation is complementary and mutually beneficial.
The Prime Minister hopes that Korean businesses will continue to trust and stick with Vietnam in the development process. The more difficulties and challenges there are, the more we must unite, make efforts, be proactive, be creative, overcome difficulties, overcome challenges, and turn danger into opportunity.
The Prime Minister suggested that Korean associations and business communities continue to expand investment and build long-term, sustainable, and environmentally friendly business strategies in the coming time, contributing to Vietnam's commitment to zero net emissions by 2050.
Along with that, continue to demonstrate sentiment and social responsibility, implement well the business culture, regimes and policies towards employees and contribute to ensuring social security. At the same time, promote the spirit of "win-win", harmonize benefits, share risks, harmonize interests between the State, investors and people, accompany each other in both favorable and difficult times.
The Prime Minister requested that Korean associations, as the "extended arm" of Korean enterprises to the Vietnamese Government, promptly provide and report on difficulties and obstacles of their members in the process of investment and business activities in Vietnam; promptly recommend and propose appropriate policies and laws.
In the spirit of sincere, trustworthy and effective cooperation, the Prime Minister once again affirmed that the Vietnamese Government always listens to and accompanies the Korean business community to improve the investment and business environment, promptly resolving difficulties and problems of enterprises. The Prime Minister fully acknowledged the contributions of associations and enterprises today and will assign relevant ministries, branches and localities to study, absorb and provide specific responses.
Source
![[Photo] Prime Minister Pham Minh Chinh chairs a meeting on the implementation of the Lao Cai-Hanoi-Hai Phong railway project.](https://vphoto.vietnam.vn/thumb/1200x675/vietnam/resource/IMAGE/2025/5/20/0fa4c9864f63456ebc0eb504c09c7e26)
Comment (0)