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What did the presidents of Samsung and Lotte say about investment direction in Vietnam?

Prime Minister Pham Minh Chinh, his wife and a high-ranking Vietnamese delegation have just successfully concluded an official visit to Korea from June 30 to July 3 at the invitation of Korean Prime Minister Han Duck Soo.

This is the first official visit of a senior Vietnamese official to Korea since the two countries established a Comprehensive Strategic Partnership in December 2022. Following the state visit of the President of Vietnam to Korea in December 2022 and the state visit of President Yoon Suk Yeol to Vietnam in June 2023. This is the third consecutive year of mutual visits by senior leaders, showing the close relationship between the two countries. Visits by officials and senior leaders of the two countries have greatly contributed to the development of bilateral relations.

Over the past 30 years, Korea and Vietnam have developed an exemplary cooperative relationship that is among the world's leading. Relations between the two countries are developing extremely well; The two countries have become important trading partners of each other with a trade turnover of nearly 100 billion USD.

On July 2, in Seoul, Prime Minister Pham Minh Chinh received Mr. Lee Jae Yong, Chairman of Samsung Group. Photo: Nhat Bac/VGP

Attending the working group, the Ministry of Industry and Trade delegation led by Minister Nguyen Hong Dien and leaders of functional departments and agencies under the Ministry: Asia - Africa Market Department; Office of the Interdisciplinary Steering Committee for International Economic Integration; Office sets; Industry and Trade Newspaper... had a series of side events.

In particular, the highlight of this visit was reaping practical results in economic, trade and investment cooperation, thereby contributing to the implementation of the contents of the June Action Program. 2023. More than half of the activities of the Prime Minister and ministries and branches, including the Ministry of Industry and Trade, during this visit focused on the economic field and the two sides affirmed that economic cooperation is one of the pillars. of prime importance in cooperation between the two countries.

 

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In addition to bilateral exchanges and contacts with partner units, Minister Nguyen Hong Dien also had meetings with leaders of leading Korean businesses and corporations such as Samsung, Lotte, LX International... Here, leaders of leading businesses and corporations in the "land of kimchi" shared about directions for expanding cooperation and investment in Vietnam.

Vietnam - Korea relations will be greater in the future

Mr. Lee Jae Yong - Chairman of Samsung Group said that Vietnam is Samsung's second homeland and a partner country that has well implemented the signed cooperation agreement. Currently, Samsung is one of the Korean businesses investing the most in Vietnam.

Mr. Lee Jae Yong - Chairman of Samsung Group shared about business investment directions in Vietnam

Mr. Lee Jae Yong said that during the meeting between Prime Minister Pham Minh Chinh and leaders of leading Korean corporations in Seoul, the Prime Minister affirmed that the Vietnamese Government will accompany and support these companies. The group invests, constructs, and develops projects in Vietnam effectively, successfully, and win-win. Therefore, Mr. Lee Jae Yong believes that, through the existing trade partnership between the two countries and with talented Vietnamese people, Samsung will try its best to become an even bigger global company. .

“As Prime Minister Pham Minh Chinh said before, there are many new technologies emerging such as artificial intelligence or the increasing demand for new semiconductors... Therefore, Samsung is thinking about how to keep up with the trend. new direction of the market to create good products that satisfy customers and partners around the world. In Vietnam, Samsung is also wondering what to do next to suit the market and needs of Vietnamese people" - Mr. Lee Jae Yong shared.

Sharing about the future economic and trade investment cooperation between Vietnam and Korea, Mr. Lee Jae Yong believes that Korea and Vietnam will become long-term partners and even partners. greater cooperation in the future by combining Korean technology, Korean research and development (R&D) spending ratio for partners and the hard-working attitude of young Vietnamese talents.

Minister of Industry and Trade Nguyen Hong Dien and leaders of domestic ministries and branches accompanying Prime Minister Pham Minh Chinh received Mr. Lee Jae Yong, Chairman of Samsung Group - Photo: VGP/Nhat Bac

Mr. Lee Jae Yong also said that as Vietnam's largest foreign investor and largest exporter, Samsung is committed to always accompanying Vietnam in sustainable development in the spirit of "harmonious benefits". , shared risks" that Prime Minister Pham Minh Chinh has mentioned many times. Samsung plans to invest strongly in the next 3 years to make the factory in Vietnam become the group's largest display module production base globally.

Lotte will expand its investment scope in other localities

Also in Korea, sharing about investment expansion directions in Vietnam, Lotte Group Chairman Shin Dong Bin expected bright cooperation with Vietnam after listening to the Prime Minister's message calling for investment. General Pham Minh Chinh.

Mr. Shin Dong Bin said that the Group has been investing in Vietnam for 30 years, and currently there are about 20 Lotte businesses investing in Vietnam. He hopes that with this visit of Prime Minister Pham Minh Chinh, the two sides will promote investment cooperation.

Sharing that the investment in the Lotte Mall Tay Ho facility and putting it into operation in September 2023 has brought results with about 30,000 visitors per day, the Chairman of Lotte Group said he will consider expanding investment in this model. in other localities of Vietnam, not only in Hanoi and City. Ho Chi Minh. He hopes the Vietnamese Government will create favorable conditions for the Group to invest more conveniently.

Mr. Joonyeon Chang - expert from the Korean Institute of Science and Technology believes that Prime Minister Pham Minh Chinh's business trip to Korea has also opened up many opportunities for cooperation between the two countries.

Similarly, in Korea, during a meeting with Minister of Industry and Trade Nguyen Hong Dien, Mr. Chun Sung Yoon - General Director of LX International Company said that the company will expand investment in Vietnam. Therefore, at the meeting with Minister Nguyen Hong Dien, Mr. Chun Sung Yoon proposed and recommended expanding cooperation in Vietnam in the field of mineral exploitation and processing, especially rare earths; Proposing the Ministry of Industry and Trade to create conditions for Vietnam's renewable energy projects...

Meanwhile, Mr. Joonyeon Chang - expert from the Korean Institute of Science and Technology also said that Prime Minister Pham Minh Chinh's business trip to Korea has also opened up many opportunities for cooperation between the two countries in a number of areas. new fields such as innovation, high technology, renewable energy, digital transformation, green transformation, climate change response, semiconductors and artificial intelligence (AI).

Sharing Vietnam's views and development orientation with representatives of large Korean businesses and corporations, Minister of Industry and Trade Nguyen Hong Dien highly appreciated cooperation with a number of foreign partners (including Korea). ) has capacity and experience in fields where Vietnam has strengths and Korea has needs.

Minister Nguyen Hong Dien stated the opinion, "If you want to go far, go together, if you want to go fast, go alone", therefore, the Ministry of Industry and Trade welcomes and supports large foreign enterprises (including foreign enterprises). Korean Industry) to further increase investment in mining, processing, import and export of minerals in Vietnam's industries.

"The Vietnamese Government as well as the Ministry of Industry and Trade always create the best conditions for foreign businesses to invest in Vietnam because the success of foreign businesses is also the common success of Vietnam" - Minister Nguyen Hong Dien affirmed.

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