Vietnam, RoK boost cooperation through dialogue

A high-level dialogue was held in Hanoi on September 8 between the government agencies and business communities of Vietnam and the Republic of Korea (RoK) to discuss economic cooperation.

Addressing the dialogue, Deputy Prime Minister Hoang Trung Hai said this was an opportunity  for them to co-ordinate in strengthening economic, investment and trade ties between Vietnam and the RoK.

The Deputy PM said that Vietnam-RoK cooperation have grown impressively in all fields, especially since leaders of both nations decided to raise it to a level of strategic partnership in 2009.

At present, the RoK is one of Vietnam’s largest foreign investors with their total registered capital of nearly US$26 billion, contributing to boosting economic growth and restructuring in the country, he said.
There is high hope that the RoK business community will invest more in hi-tech, energy, transport infrastructure, environment, healthcare, processing and support industries in line with Vietnam’s Public-Private Partnership (PPP) model and other forms of cooperation.

Park Yongman, President of the Korea Chamber of Commerce and Industry (KCCI) affirmed that RoK businesses will strongly increase investment in such areas as information technology, shipbuilding and automobile manufacturing in the near future.

Yoon Sang-jick, Minister of Trade, Industry and Energy reaffirmed that Vietnam and the RoK have huge potential for closer cooperation as in the last two decades, two-way trade turnover has increased by 42 times from US$0.5 billion (1992) to US$21.1 billion (2012).