Vietnam’s southern economic hub of Ho Chi Minh City and the Republic of Korea (RoK)’s Gymcheon city in Gyongsangbuk province have plenty of potential for economic cooperation, a municipal official has said.

HCM City is calling for investment in the fields of industry, science-technology, and smart urban building, Vice Chairman of the municipal People’s Committee Le Thanh Liem told visiting Mayor of Gymcheon Kim Chung Sub at a meeting on November 5.

Liem said HCM City has set up friendly and cooperative relations with seven Korean localities, including Gyongsangbuk, which is a favourable premise for the two cities to seek cooperation opportunities.

Local authorities are willing to create optimal conditions for Gymcheon businesses to invest in the city to bring practical benefits to the people of the two cities, he affirmed.

Kim hoped HCM City will make it easier for Gymcheon enterprises to promote trade and investment in the city.

He expressed his impression for the dynamic development of HCM City, adding that Gymcheon will do its utmost to promote bilateral cooperation.

The Mayor also pledged to create the best conditions for Vietnamese nationals living and working in Gymcheon, helping them to become friendship bridges between the two nations.

As of September 2019, the RoK ranked third among 106 countries and territories investing in HCM City with over 1,700 projects worth over 5 billion USD. In 2018, two-way trade reached 4.7 billion USD.