Singaporean investors are continuing to pour capital into e-logistics firms to tap into the fast-growing market in Vietnam.

Deputy Prime Minister Trinh Dinh Dung and Chairman of the Republic of
Korea’s Presidential Committee on the New Southern Policy co-chaired
the Viet Nam- RoK Business Summit  in Chu Lai Open Economic Zone
in the central province of Quang Nam on November 9, 2019. Photo: VGP 

The event, attracting the participation of more than 250 Korean big enterprises and many Vietnamese firms, creates an opportunity for the two Governments and the business communities to exchange and share viewpoints, prospects and cooperative chances, with a view to deepening the Viet Nam-RoK strategic cooperative partnership.

Addressing the event, Dung highlighted the bilateral relationship has entered the best stage thanks to the joint efforts by their Governments and people.

The two nations have maintained regular exchange of high-level meetings and formed several mechanisms on strategic dialogue and policy dialogues on diplomacy, defense and security.   

The RoK has poured US$65.7 billion in 8,190 projects in Viet Nam, ranking first among foreign investors in the country and playing significant role in Viet Nam’s key economic sectors such as electronics, energy, automobile, garments, construction and service.

The RoK is also one of Viet Nam’s top trading partners, with the bilateral trade value hitting US$ 65.8 billion in 2018 and US$44 billion in the first eight months of 2019, Dung emphasized.

Deputy Prime Minister Trinh Dinh Dung and Chairman of the Republic of
Korea’s Presidential Committee on the New Southern Policy Joo Hyung Cheol
witness the signing of cooperative agreements. Photo: VGP 

The Vietnamese Government and people highly value the role of the Korean business community as they are not only taking the lead in investment but also enhancing the bilateral ties in an extensive and and effective manner, affirmed Dung.

Dung expected to raise the trade value with the RoK to US$100 billion by 2020 in a more balanced manner.

Viet Nam welcomes the RoK’s New Southern Policy, in which Viet Nam is considered as one of its key partners, emphasized Dung.

The Deputy PM took the occasion to brief about the Vietnamese Government’s recent efforts in improving the business climate, creating most favorable conditions for business and people to boost production.

The Government also has accelerated the transition to digital economy with synchronous and drastic measures to enhance innovation and encourage start-up and business development, he added.

Dung called on the two sides’ business communities to share new initiatives and creative solutions, support start-up projects, uphold the potentials and advantages to take the lead in economic cooperation and connectivity, contributing and consolidating the two nations’ strategic cooperative partnership.

The Vietnamese Government always creates most favorable conditions for the Korean investors and for the two countries’ enterprises to enhance cooperation and investment, considering the success of the Korean businesses as its own success, he said. /.