Prime Minister Chinh holds talks with South Korean businesses to boost investment

Prime Minister Pham Minh Chinh, along with Deputy Prime Ministers Ho Duc Phoc and Nguyen Chi Dung on March 4 presided over a dialogue with South Korean businesses at the Government Office headquarters.

The event was attended by South Korean Ambassador to Vietnam Choi Young Sam, Chairman of the Korea Chamber of Commerce in Vietnam (KOCHAM) Ko Tae Yeon, leaders of 35 major South Korean corporations, and representatives from Vietnamese ministries, localities, and key enterprises.

Despite global economic challenges, Vietnam remains a key destination for foreign direct investment (FDI) from South Korea. In 2024, South Korean investment in Vietnam surpassed US$7 billion, raising the cumulative total to US$92 billion. South Korean businesses expressed their desire to make Vietnam a strategic manufacturing hub and investment base. They also urged improvements in the business environment, particularly in sectors such as semiconductors, green energy, high technology, biotechnology, advanced materials, services, and logistics.

Prime Minister Pham Minh Chinh and delegates take a commemorative photo at the seminar.Photo: N.Đ.T.

Acting Chairman of the Quang Tri Provincial People’s Committee, Ha Sy Dong, shared insights into South Korean investment in the province.

He said Quang Tri hosts three major South Korean projects with a total registered capital of US$2.34 billion, including the Hai Lang LNG Power Center, Poong In Vina garment manufacturing plant, and Sangshin Central Vietnam electronic component assembly plant.

In 2024, Quang Tri signed a Memorandum of Understanding with SK E&S Group on investment, trade, energy transition, and green growth. The province also established its first official investment and trade cooperation agreement with Changwon City, South Korea. These projects have significantly contributed to the province’s socio-economic development.

Acting Chairman of the Quang Tri Provincial People’s Committee, Ha Sy Dong speaks at the event. Photo: N.Đ.T

Prime Minister Pham Minh Chinh expressed strong support for continued sustainable cooperation, praising the significant contributions of South Korean businesses to Vietnam’s economic growth. He encouraged these businesses to expand their investments and improve operational efficiency. The Prime Minister also reaffirmed Vietnam’s commitment to fostering a favorable, transparent, and stable investment environment, with a particular focus on supporting South Korean enterprises.

Highlighting the government’s unwavering support, Prime Minister Chinh directly addressed investors' concerns, instructing ministries and local authorities to promptly address proposals and eliminate barriers to enhance investment cooperation. This dialogue reinforced Vietnam’s steadfast commitment to strengthening its economic ties with South Korea, advancing their strategic partnership, and ensuring mutual benefits for both nations.

Nguyen Duc Tan - Tung Lam