Dong Nai (VNA) – The Republic of Korea (RoK) is now Vietnam’s largest foreign investor, with nearly 10,600 projects and almost 103 billion USD in registered capital, while ranking as Vietnam’s third-largest trade partner, said Deputy Minister of Foreign Affairs Ngo Le Van.

Speaking at the Meet Korea conference, co-hosted by the Vietnamese Ministry of Foreign Affairs and the Korean Embassy in Dong Nai city on October 15, Van said the 2026-2027 period offers a chance for new breakthroughs ahead of the 35th founding anniversary of diplomatic ties on December 22.

Two-way trade topped 80 billion USD in the first eight months of 2026, the highest for that period in any previous year. That builds momentum toward a goal of exceeding 100 billion USD for the first time this year and reaching 150 billion USD by 2030, he noted.

Local-level cooperation and people-to-people exchanges have also picked up in recent years. In 2025, the two countries recorded more than 5 million visits, with over 350,000 Vietnamese living in the RoK and about 200,000 Koreans residing in Vietnam.

Van said Vietnam is overhauling its growth model around science, technology, innovation and a quality workforce, aiming for double-digit growth. It is prioritising investment in high-value sectors, including artificial intelligence, semiconductors, smart infrastructure and clean energy, which the RoK has considerable expertise in and leave substantial room for cooperation.

The official said he hopes Korean companies will join activities within APEC Year 2027 hosted by Vietnam and contribute to a connected, innovative and prosperous Asia-Pacific region.

Vo Tan Duc, Vice Secretary of the municipal Party Committee, said Dong Nai holds a strategic position linking the southeastern region with international markets and is one of Vietnam’s longest-established industrial localities. It has all five transport modes (road, air, rail, maritime and inland waterways) and key assets, including Long Thanh International Airport, Phuoc An Port and 10 expressway routes that are completed, under construction or planned.

Duc said the Politburo’s Resolution 16-NQ/TW on the construction of development of Dong Nai gives the city strategic direction to capitalise on its advantages and widen its development space. It casts Dong Nai as a key growth pole for the southeastern region and the country, and as a global and regional connectivity hub and a centre for industry, services, logistics and innovation.

Dong Nai has drawn investment from 51 countries and territories, with about 2,300 projects worth more than 47 billion USD. The RoK is its largest foreign investor, with nearly 470 active projects and almost 8.4 billion USD in registered capital.

Korean Ambassador Lee Miyun said Dong Nai is the first locality in Vietnam she has visited on an official working trip, after presenting her credentials to the Vietnamese Party and State leader in early October.

Lee said Dong Nai is a typical example of Korean companies’ overseas investment, particularly in manufacturing, components and spare parts, and logistics. She hoped that Korean firms will continue expanding in advanced components and materials, smart logistics and cities, critical minerals and defence industry.

The ambassador also called on the Vietnamese Government, Dong Nai authorities and other cities and provinces to keep investment policies stable, predictable and consistently enforced in actual business and trade activities.

At the event, delegates discussed ways to enhance the Vietnam-RoK Comprehensive Strategic Partnership, with a focus on breakthroughs in trade, sustainable investment and workforce training for the digital era. They also deliberated ways to advance science, technology and cultural industries amid digital transformation, and fostering green, sustainable and inclusive growth.

Vietnamese agencies and their Korean partners also signed memoranda of understanding on cooperation./.