Tuesday , July 16 2024

PM Chính urges Việt Nam, RoK to boost high-tech and green investments

Prime Minister Phạm Minh Chính and RoK President Yoon Suk Yeol agreed to work closely together to deepen and make economic relations more substantive and effective.


Prime Minister Phạm Minh Chính met with President of the Republic of Korea (RoK) Yoon Suk Yeol in Seoul on Tuesday. VNA/VNS Photo Dương Giang

HÀ NỘI – Prime Minister Phạm Minh Chính proposed that Việt Nam and the Republic of Korea (RoK) collaborate to encourage South Korean businesses to increase investments in high-tech projects and high-value-added sectors such as semiconductors, digital and green transformations and biotechnology.

He made his remarks while meeting with RoK President Yoon Suk Yeol on Tuesday as part of his official visit to the country. He also conveyed the warm regards of Vietnamese leaders to RoK President Yoon.

PM Chính affirmed Việt Nam supported the RoK’s development policies and goals, including the ‘global pivotal state’ policy and expressed readiness for continued close cooperation to ensure greater success for both countries. This collaboration aims to benefit the people of both nations and contribute responsibly to maintaining peace, stability, cooperation and development in the region and the world.

Highlighting Việt Nam’s crucial role in RoK’s foreign policy, including the Indo-Pacific Strategy and the Korea-ASEAN Solidarity Initiative (KASI), President Yoon said PM Chính’s visit would significantly contribute to effectively implementing the Action Plan for the Comprehensive Strategic Partnership, which was upgraded in December 2022.

PM Chính informed President Yoon of the significant outcomes achieved during the talks between the two Prime Ministers, including major directions to promote the Comprehensive Strategic Partnership in the future. He also highlighted the rapid and substantial progress in the two countries’ bilateral cooperation in recent times.

The Vietnamese leader proposed that both sides continue to maintain and strengthen high-level delegation exchanges and activities at various levels. He emphasised the importance of regularly implementing existing cooperation mechanisms in diplomacy, defence and security.

The two leaders agreed to work closely together to deepen and make economic relations more substantive and effective. PM Chính suggested collaboration in training human resources in semiconductors, hydrogen and AI. He also proposed promoting loans through the Economic Development Promotion Fund (EDPF) worth US$2 billion and offering non-binding loan conditions for the Economic Development Cooperation Fund (EDCF) loans, also worth $2 billion, to develop strategic infrastructure such as high-speed railways.

President Yoon said that South Korean businesses saw Viêt Nam as a highly potential investment destination and that many South Korean enterprises investing in Việt Nam had created a favourable investment ecosystem.

He called for smoothing South Korean businesses’ participation in Việt Nam’s key projects, including energy and liquefied natural gas (LNG) operations.

The Korean leader affirmed support for training human resources in Việt Nam for the semiconductor and high-tech industries and developing Việt Nam’s cultural industry.

President Yoon highlighted that Việt Nam was the first country to sign a climate change agreement with South Korea and affirmed support for Việt Nam in successfully organising the Partnering for Green Growth and the Global Goals 2030 (P4G) Summit in April 2025.

Both sides agreed to expand cooperation in culture, education and tourism, strengthen local cooperation and enhance people-to-people exchanges to foster greater understanding and connections between their citizens. They also agreed to work closely to protect the legitimate rights of each other’s citizens, ensuring their stable and safe lives, and to support multicultural Vietnamese-Korean families.

During the meeting, the two leaders agreed to continue close cooperation and mutual support in international and regional forums of shared interest and to further strengthen cooperation within ASEAN frameworks such as ASEAN-Korea and Mekong-Korea.

President Yoon praised Việt Nam for its excellent role as the coordinator of ASEAN-Korea relations and called for continued support in upgrading ASEAN-Korea relations to a Comprehensive Strategic Partnership. – VNS

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