Vietnam creates an open and transparent investment environment for businesses to invest stably and long-term.

At the conference, Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son affirmed that the "Meeting Korea" event is very important, marking the 10th anniversary of the signing of the Vietnam-Korea Free Trade Agreement (VKFTA), and the 10th anniversary of the "Meeting Korea in Vietnam" event series.

This is also the year that Vietnam aims for breakthrough growth, aspires to transform itself to enter a new era - the era of striving for rich and prosperous development of the Vietnamese people.

Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son speaks at the "Meeting Korea" conference. (Photo: Nhan Dan Newspaper)

Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son emphasized that the strategic goal is to achieve 8% growth by 2025, creating momentum, force, position, and rhythm to achieve double-digit growth in the following years; by 2030, becoming a developing country with modern industry and high average income; by 2045, becoming a developed country with high income. Vietnam is full of aspirations and determination to enter a new era - the era of rising up, developing richly, civilizedly, and prosperously for the Vietnamese people.

To realize these goals, Vietnam is focusing on drastically and synchronously implementing many groups of solutions, promoting strategic breakthroughs in institutions, infrastructure, and human resources, in the spirit of "open institutions, smooth infrastructure, smart governance and human resources" to reduce costs, increase the competitiveness of goods, and create favorable conditions for businesses.

Investment cooperation signing ceremony between Vietnamese and Korean enterprises. (Photo: Nhan Dan Newspaper)

Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son affirmed: The Vietnamese Government is committed to creating an open and transparent investment environment, continuing to promote administrative procedure reform, smart governance, carrying out a revolution in organizational apparatus, reducing intermediaries, eliminating the mechanism of asking and giving, promoting decentralization and delegation of power in the direction of streamlining, compactness, strength, efficiency, effectiveness and efficiency; creating favorable conditions and actively supporting the resolution of difficulties for foreign enterprises, including Korean enterprises, to invest stably and long-term in Vietnam.

To date, Vietnam and Korea have become each other's leading important partners in many fields. Korea currently ranks first in direct investment in Vietnam with 10,128 projects and a total registered capital of over 92 billion USD; second in development cooperation (ODA), labor and tourism; and third in trade cooperation.

On the other hand, Vietnam is Korea's largest economic partner in ASEAN, accounting for 30% of investment and 50% of total trade turnover between Korea and ASEAN.

The two countries are aiming to increase bilateral trade turnover to 100 billion USD by 2025 and 150 billion USD by 2030 in a balanced and sustainable manner.

Ambassador Extraordinary and Plenipotentiary of the Republic of Korea to Vietnam Choi Youngsam hopes that Vietnamese localities will continue to accompany, support and have many preferential policies for Korean enterprises investing in provinces and cities across the country.

The Ambassador pledged to be a bridge for Korean businesses to invest in Vietnam, making Korea one of Hung Yen's largest partners.

Discussion on promoting Vietnam-Korea trade and investment in the new era. (Photo: Nhan Dan Newspaper)

At the conference, delegates discussed issues related to promoting Vietnam-Korea trade and investment; and strengthening cooperation in developing high-tech industries.

Hung Yen Provincial Party Secretary Nguyen Huu Nghia shared that Hung Yen province has a favorable location, located close to the capital Hanoi, in the center of the Red River Delta, in the key economic region of the North and in the growth triangle of Hanoi-Hai Phong-Quang Ninh, so it has many potentials and opportunities for effective investment and business.

Promoting potential and advantages, in recent years, Hung Yen province has continuously made efforts to comprehensively innovate, improve the business environment, enhance competitiveness associated with promoting administrative reform, innovating working style and manners, digital transformation, improving the quality of public services, taking people and businesses as the center, taking advantage of opportunities, promoting potentials and strengths, mobilizing domestic and foreign investment resources to promote rapid economic growth, transforming the economic structure towards industry, services, urban areas and enhancing local potential.

To date, the total import-export turnover of Hung Yen province with South Korea in 2024 reached 1.945 billion USD, accounting for 14.45% of the province's total import-export turnover. Hung Yen province currently has 560 FDI projects with a total registered capital of 8.7 billion USD, of which Korean investors ranked second in the number of projects with 162 projects and investment capital of 1.46 billion USD.

Mr. Han Jongdeok, General Director of VTK Hung Yen Industrial Park Investment and Development Co., Ltd. said: During the production and business process, the company has always received attention and support from the functional agencies of Hung Yen province, especially the Provincial Industrial Parks Management Board. They always listen, create conditions to resolve problems, remove difficulties, simplify administrative procedures for businesses, helping businesses feel secure in production and business.

According to Nhan Dan Newspaper
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Source: https://thoidai.com.vn/viet-nam-tao-lap-moi-truong-dau-tu-thong-thoang-va-minh-bach-de-doanh-nghiep-dau-tu-on-dinh-lau-dai-213518.html