(MPI) - The Ministry of Planning and Investment (MPI) of Vietnam coordinated with the Embassy of the Republic of Korea (RoK) in Vietnam to organise Vietnam-RoK Economic Cooperation Conference in Hanoi on October 27. This event is within the framework of the 30th anniversary of the Vietnam-RoK diplomatic relations.
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MPI Deputy Minister Tran Quoc Phuong speaks at the conference. Photo: MPI |
MPI Deputy Minister Tran Quoc Phuong stated that the Vietnam-RoK relations has been growing in both width and depth as the two countries are strategic partnership with comprehensive cooperation in all fields. Vietnam and the RoK are role models in new cooperation spheres such as supply chain, digital transformation, innovation, response to climate change, and health. The two countries also maintained people-to-people exchange and high-level visits.
The RoK is one of the biggest trade partners of Vietnam since it was the largest foreign direct investment (FDI) investor in Vietnam with a total capital of 80 billion USD, a year-on-year rise of 4 times; the second-largest official development assistance (ODA) provider with a total capital of 4.2 billion USD; and the third-largest trade partner with import-export turnover reached 78 billion USD in 2021.
The conference is to review cooperation results between the two countries in the past 30 years, listen to researchers’ opinions on its outcomes, and outline cooperation orientations in the time ahead. Deputy Minister Phuong asked participants to frankly point out opinions and propose recommendations on future orientations that on par with the Vietnam-RoK comprehensive partnership.
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Newly-appointed Korean Ambassador to Vietnam Oh Young Ju. Photo: MPI |
Newly-appointed Korean Ambassador to Vietnam Oh Young Ju pledged her utmost to lift the two countries’ ties to new height. She said, Vietnam is a comprehensive and important partner of RoK, and the two countries need strategic changes as Vietnam is accelerating its development.
The diplomat hoped FDI will be a key pillar in the two countries’ cooperation in the time to come. Vietnam is the third-largest investor of RoK currently, and Korean firms also success when expanding investment in Vietnam.
The two countries need to pay more attention to investment quality and set out orientations to further foster the bilateral relationship, she added.
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Korean Deputy Foreign Minister Jun Seong Deok. Photo: MPI |
Korean Deputy Foreign Minister Jun Seong Deok expressed his delight at the vigorous growth at all cooperative spheres, stressing two-way trade turnover achieved impressive results and Vietnamese students accounted the highest number among foreign ones in the RoK.
Vietnam has been arising as an attractive destination to businesses of both RoK and other countries by its outstanding development. Speaking highly of Vietnam’s achievements in the COVID-19 fight and sustainable economic development, Deok believed Vietnam and RoK will be top economic partners thanks to many attained successes.
Participants at the conference looked into achieved results during the 30 years of the Vietnam-RoK diplomatic relations with focus on the outcomes of cooperation and FDI.
They also exchanged views on the Vietnam-RoK economic cooperation strategy in such fields as security, economy, digital transformation, infrastructure, smart city, and on global-regional economic models as well as strategic environmental change./.
Bao Linh
Ministry of Planning and Investment