Vietnamese, South Korean leaders attend Viet Nam-RoK Business Forum

The event was co-organized by the Vietnamese Ministry of Planning and Investment, Korean Ministry of Trade, Industry and Energy and the Korean Chamber of Commerce and Industry.

The forum, held within the framework of the South Korean President's three-day State visit to Viet Nam, attracted the participation of 300 enterprises from South Korea and 200 Vietnamese businesses.

Despite negative impacts of the COVID-19 pandemic, economic ties between the two nations have grown strongly. Last year, the bilateral trade value hit US$87 billion.

South Korea is currently the biggest investor in Viet Nam with the total registered investment capital worth nearly US$82 billion.

Currently, around 9,000 Korean firms are operating in Viet Nam across all sectors, remarkably US$1.3 billion poured in renewable energy and green growth.

Speaking at the event, representatives of the Korean enterprises spoke highly of the strong economic development in Viet Nam and expressed thanks to the Vietnamese Government, ministries and agencies for tackling difficulties and obstacles for Korean investors.

Addressing the event, President Yoon said the relationship between South Korea and Viet Nam is role model in the world, emphasizing the need for both sides to strengthen collaboration in people-to-people links, trade and investment.

He called on the two countries to double efforts to raise bilateral trade to US$150 billion by 2030.

South Korea will support Viet Nam in promoting infrastructure development and science technology, he stated, adding that the two nations should foster cooperation in digital transformation, energy transition and renewable energy, he said.

Pham Minh Chinh, for his part, said that he appreciates contributions of the Korean enterprises to Viet Nam's development over the last more than three decades.

Viet Nam welcomes the active participation of foreign investors in its development process, including ones from South Korea, he noted.

He called on Korean businesses to invest in Viet Nam in potential areas such as renewable energy, digital transformation, biotechnology, electronics, semiconductor, clean energy, green economy, smart city, high-tech agriculture as well as culture and entertainment industry.

Pham suggested the Korean business associations and communities will further expand investment and build environmental-friendly, sustainable and long-term business strategies in Viet Nam and join hands with the Southeast Asian nation to realize its net-zero carbon emissions target by 2050./.