Prime Minister calls on South Korean businesses to invest in high-tech industries in Viet Nam
VGP - Prime Minister Pham Minh Chinh on Tuesday chaired dialogue with leaders from South Korean businesses in Viet Nam.
Prime Minister Pham Minh Chinh chairs a dialogue with leaders from South Korea businesses, Ha Noi, March 4, 2025 - Photo: VGP
The event saw the participation of Deputy Prime Ministers Ho Duc Phoc and Nguyen Chi Dung and representatives of 35 Korean corporations and enterprises.
Addressing the event, Pham urged South Korean enterprises to work with the Vietnamese government and businesses to expand investments in new technologies, high-tech industries, advanced and clean technologies that offer high added value and promote global production and supply chain.
He called on Korean businesses to invest in semiconductor, artificial intelligence (AI), renewable energy, digital finance, biotechnology, smart manufacturing, and digital economy while promoting investment cooperation in such fields like processing and manufacturing industries, real estate projects, infrastructure development, telecommunications, tourism, cultural industries, and entertainment.
The Prime Minister called on Korean businesses to participate in Viet Nam's production ecosystem based on the principle of mutual benefits, and maintain close cooperation within multilateral frameworks, regional and global value chains to ensure the economic security of both sides.
He encouraged Korean businesses to share their experiences to promote startup ecosystem by supporting venture capital funds and connecting startups from both countries, actively participate in Viet Nam's innovation centers and establish research and development (R&D) centers.
The Vietnamese Government commits to ensuring that the foreign-invested sector remains an important part of Viet Nam's economy, and pledges to safeguard the legitimate rights and interests of investors while maintaining political stability, social order and safety, and a stable institutional framework, mechanisms, and policies to attract investment, Prime Minister Pham assured.
Chairman of the Korean Business Association in Viet Nam (Kocham) Ko Tae Yeon said, Viet Nam attracted impressive foreign direct investment (FDI) capital inflows despite global economic challenges, including US$7 billion from South Korea in 2024, an increase of 37.5 percent compared to 2023, bringing South Korea's cumulative investments in Viet Nam to US$92 billion.
Currently, around 10,000 South Korean businesses are operating in Viet Nam, creating over 900,000 jobs and making significant contributions to the nation's socio-economic development. These achievements reaffirm Viet Nam's important position and role in the global supply chain, reflecting the strong growth of Viet Nam–South Korea cooperation, he noted.
Ko said that 82 percent of South Korean businesses believe that the Vietnamese Government is effectively responding to external fluctuations. South Korean enterprises have strong confidence in Viet Nam's diplomatic capabilities and its policies to support FDI in the coming period./.
