The Vietnamese Government will work to remove bottlenecks and create the best conditions for enterprises from the Republic of Korea to operate in Vietnam, Deputy Prime Minister Vuong Dinh Hue stressed on June 19.

Deputy PM Vuong Dinh Hue (R) and Chairman of Hyosung Group Cho Hyun-joo.
(Photo: VNA)

He made the affirmation while hosting a reception for heads of leading Korean corporations as part of his ongoing visit to the East Asian country.

Meeting with Chairman of Hyosung Group Cho Hyun-joo, Deputy PM Hue said that the group is one of the largest Korean investors in Vietnam as it has registered some 3 billion USD in production projects in Dong Nai and Quang Nam provinces.

He spoke highly of the group’s presence in the Vietnamese market, and hoped that it will land long-term investments and expand project scale in the Southeast Asian country.

Responding to Cho’s queries on the approval for the expansion of Tam Thang industrial park in Quang Nam province, and Nhon Trach industrial park in Dong Nai province, as well as recommendation on the construction of a ring road in Tan Van-Nhon Trach section, Hue said that the Government will entrust the Ministry of Planning and Investment and the Ministry of Finance as well as competent agencies to handle the issues.

In a separate reception for Lotte Group chairman Shin Dong-bin, Deputy PM Hue said that the Government would back the group to settle challenges such as those in the projects of EcoSmartCity Thu Thiem and Hanoi Lotte Mall. 

 He took the occasion to thank Lotte for supporting the Vietnamese farm produce programme, nudging the country’s tropical agricultural products closer to foreign consumers.

Hue also had meetings with CEO of Hanhwa Energy Ryu Du-hyung, CEO of GS Engineering & Construction Corporation Woo Mu-hion, and leaders of Korean property ventures.

The same day, he witnessed the signing of strategic cooperation deal between An Phat Holdings JSC and TLC Korea, and visited representatives of the Vietnamese people community and staff of the Vietnamese Embassy in the RoK.

Currently, the RoK is the largest investor, and second largest ODA provider for Vietnam. 

Under an MoU signed between both sides in 2018, they will work together to increase trade revenue to 100 billion USD by 2020.