Prime Minister urges Viet Nam, South Korea to raise bilateral trade to US$150 bln by year-end
VGP - Viet Nam and South Korea should strive to raise the two-way trade to US$100 billion this year and US$150 billion by 2030 in a balanced and sustainable manner.
Prime Minister Le Minh Hung (R) hosts a reception for outgoing South Korean Ambassador Choi Young Sam, Ha Noi, June 26, 2026 - Photo: VGP
Prime Minister Le Minh Hung made the above statement during his reception for outgoing South Korean Ambassador Choi Young Sam in Ha Noi on June 29.
The Prime Minister expressed his belief that the strong foundation of bilateral relations would provide a solid basis for the two countries to further expand cooperation across various fields in the future.
He proposed that both sides should continue to promote all-level delegation exchanges, while also fostering collaboration in defense and security.
Le called on South Korean enterprises to continue expanding their existing investments in Viet Nam, particularly in manufacturing of high-tech electronic equipment, semiconductors, renewable energy, urban railways, and smart cities.
The Vietnamese Government would create the most favorable conditions for foreign enterprises, including those from South Korea, to invest in the country with confidence on a stable and long-term basis.
He urged both sides to strengthen cultural cooperation and enhance people-to-people exchanges by increasing quotas and broadening the range of occupations open to Vietnamese workers in South Korea, particularly in the fields of information technology, services, nursing care, and shipbuilding.
In addition, the leader suggested promoting local-to-local linkages, thereby promoting economic development and fostering closer people-to-people ties.
Choi, for his part, underlined that South Korea attaches importance to its relationship with Viet Nam and is committed to further strengthening bilateral ties, particularly in emerging sectors such as science and technology, semiconductors, renewable energy, LNG-fired power, artificial intelligence, and infrastructure.
South Korea will continue to be a trusted partner and steadfast companion in supporting Viet Nam's efforts to achieve its development goals for 2030 and its long-term vision for 2045, he noted.
Prime Minister Le Minh Hung (R) hosts a reception for Australian Ambassador to Viet Nam Gillian Bird, Ha Noi, June 26, 2026 - Photo: VGP
During the meeting with Australian Ambassador to Viet Nam Gillian Bird on the same day, the Prime Minister reiterated that Viet Nam always considers Australia a trusted friend and a Comprehensive Strategic Partner with ample potential, which plays an increasingly important role in the region and shares strategic interests with the Southeast Asian nation.
The leader proposed breakthrough measures to lift two-way trade to US$20 billion and double bilateral investment in the coming years.
He suggested Australia further open its market to Vietnamese goods, particularly agro-fisheries products, maintain a stable fuel supply, and minimize trade barriers and anti-dumping investigations.
Bird, for her part, announced that Australia will offer nearly AUD100 million in official development assistance (ODA) to Viet Nam during the 2026–2027 fiscal year, focusing on cooperation in sci-tech, workforce upskilling, and climate change response.
Both sides committed to close coordination at multilateral forums, pushing ASEAN–Australia relations and regional free trade agreements such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP)./.
