Lotte invests nearly US$5 billion in Viet Nam
VGP - President Nguyen Xuan Phuc welcomed Lotte Group for having invested nearly US$5 billion in Viet Nam, its third largest market after the RoK and Japan.
State President Nguyen Xuan Phuc (R) and Lotte Chairman Shin Dong-bin, Ha Noi, August 31, 2022- Photo: VNA
Nguyen made the above remark at a reception for Lotte Chairman Shin Dong-bin who is on a working visit to Viet Nam on the occasion of the 30th anniversary of diplomatic ties between the two countries.
The RoK is the biggest investor in Viet Nam with total registered capital of US$80 billion. It is also Viet Nam’s third largest trade partner with the two-way trade value of US$78 billion.
President Nguyen thanked the Korean Group for providing VND 3.7 billion for Viet Nam in the fight against the COVID-19 pandemic and running price discount programs for essential commodities, facemask donation and gifts for Vietnamese workers.
The President expressed his hope that Lotte Group would contribute to raising the two-way trade to US$100 billion and help develop a startup ecosystem in the Southeast Asian country.
In reply, Lotte Chairman Shin Dong-bin said that since its first presence in Viet Nam, Lotte Group has expanded capital investment
Shin took the occasion to thank the Vietnamese Government, relevant ministries, sectors, and localities for their support for the Group.
He expressed an aspiration to invest in other projects in Ha Noi, especially a commercial center which would yearly attract 10 million visitors.
Mr. Shin Dong-bin pledged that Lotte will help build a startup ecosystem for Vietnamese youths./.
