PM calls on RoK firms to increase investment in Vietnam

Thursday, 2019-11-28 18:04:47
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PM Nguyen Xuan Phuc (second from left) speaks at a discussion with leaders of over 20 leading RoK businesses and investors in Seoul on November 28. (Photo: VGP)
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NDO/VNA – Prime Minister Nguyen Xuan Phuc on November 28 expressed his hope that investors from the Republic of Korea (RoK) will increase investment in Vietnam.

The PM held a discussion with leaders of over 20 leading RoK businesses and investors in various fields such as heavy industry, construction, finance, banking, automobiles, and electronics in Seoul as part of his official visit to the RoK.

According to the Government leader, the Korean community in Vietnam is considered the largest as compared to other countries in Asia. This shows that Vietnam is an attractive destination for RoK people and investors.

In Vietnam, there are many stores selling products from the RoK. Korean groups and brands have recorded successes and had great influence on Vietnamese residents.

“I hope that RoK groups will make more contributions to developing Vietnam so as to bring benefits to both sides,” PM Phuc said, adding that the two nations must strive to raise bilateral trade to US$100 billion or higher in 2020.

Informing the RoK businesses of Vietnam’s outstanding economic achievements, he stated that Vietnam has been attracting many rich and talented persons from the RoK, proven by the growth of Samsung, LG, Huyndai, KIA and Lotte as well as the Korean community in Vietnam.

At the event, leaders of major groups in the RoK said Vietnam and their country boast open and clear economic policies. The Vietnam-Korea Free Trade Agreement, effective from 2015, may help two-way trade hit US$100 billion next year.

As Vietnam is the core partner in the New Southern Policy of President Moon Jae-in, many corporations wish to expand investment in the Southeast Asian nation in retail sales; automobiles and support industry; high-tech agriculture; environmentally friendly electricity and gas production; and banking.