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Prime Minister calls on Korean businesses to invest in emerging sectors

VGP – Prime Minister Pham Minh Chinh called on South Korea's enterprises to invest in such newly emerging sectors as semiconductor chip, artificial intelligence, hydrogen in Viet Nam.

July 01, 2024 12:28 PM GMT+7
Prime Minister calls on Korean businesses to invest in emerging sectors- Ảnh 1.

Prime Minister Pham Minh Chinh addresses the Viet Nam-South Korea Business Forum in Seoul, July 1, 2024. Photo: VGP

Pham, who is on a four-day official visit to South Korea, made the call while addressing the Viet Nam-South Korea Business Forum in Seoul on Monday morning.

He reassured that the Vietnamese Government always encourages Korean enterprises to expand investment in high priority areas like digital economy, green economy, circular economy, and sharing economy.

Pham also called on Korean enterprises to join the Government's efforts in designing and improving the quality of institutions and policies, assist Vietnamese businesses to participate in global supply chain, and help Viet Nam to train high-quality workforce.

South Korea is one of Viet Nam's top economic partners. Last year, the two-way trade reached US$76 billion, making South Korea the third largest trading partner of Viet Nam after China and the U.S.

Both sides target to raise the bilateral trade to US$100 billion by 2025 and US$150 billion by the end of this decade.

On investment, South Korea has poured up to US$87 billion in nearly 1,000 projects in the Southeast Asian nation, ranking top among countries and territories investing in Viet Nam.

Meanwhile, Viet Nam is South Korea's biggest economic partner in ASEAN and third largest trade and investment partners in the world.

Nearly 40 years since the introduction of Doi Moi (reform) policy, Viet Nam has become one of the largest economies in the world, with its GDP size of US$430 billion and GDP per capita of US$4,300.

Viet Nam is among 20 trading economies and has signed 16 free trade agreements involving more than 60 partners globally./.