South Korean enterprisest which participated in a dialogue with Vietnamese Prime Minister Pham Minh Chinh in Hanoi on Tuesday expressed their interest in investing in various projects in Vietnam, including semiconductor, nuclear power, and high-speed rail projects.

Ko Tae Yeon, chairman of the South Korean Chamber of Commerce (KOCHAM) in Vietnam, assessed that Vietnam attracted an impressive FDI amount in 2024, despite the difficult global economic context, obtaining US$7 billion from South Korea.

The KOCHAM chairman hoped that South Korean businesses can participate in key projects such as the North-South high-speed rail and nuclear power, in areas of design, manufacture, and workforce training.

The South Korean businesses also mentioned investment opportunities in semiconductors, green energy, and hi-tech industries like automobiles, liquefied natural gas, electric vehicle batteries, biotechnology, advanced materials, services, and logistics.

Na Ki Hong, CEO of Samsung Vietnam, expressed interest in semiconductors and artificial intelligence, highly appreciating the Vietnamese government's support for investors and development of the digital technology industry law.

He emphasized the need to prioritize building effective incentive mechanisms to help hi-tech businesses feel confident in making investment decisions.

KOCHAM and the businesses also raised some suggestions regarding policy stability, completing the legal framework, enhancing policy support for hi-tech industries, investment funds, simplifying import-export procedures, modernizing the logistics system, import taxes, and VAT refunds.

PM Chinh thanked the South Korean businesses for their cooperation, sharing the challenges and wins, and contributing to the comprehensive strategic partnership between the two countries and Vietnam's development. 

With a focus on 'time, intelligence, and decisiveness,' he assigned relevant ministries and agencies to address the South Korean firms’ suggestions.

The prime minister encouraged all South Korean businesses to expand their investment and consider Vietnam as a development hub and a key link in the global supply chain. 

He stressed the importance of prioritizing projects that incorporate new, high-tech, and clean technologies, adding value through technology transfer and integration into global production and supply chains.

He also urged continued and expanded cooperation to strengthen supply chains, ensure stable production, and enhance participation in Vietnam’s manufacturing ecosystem based on mutual benefit.

The Vietnamese government leader expected the South Korean enterprises to share experience and promote the startup ecosystem in Vietnam by encouraging venture capital funds and connecting startups from both nations.

In response to the South Korean businesses' interest in the Vietnam-U.S. relationship, U.S. policies, and Vietnam's reactions and solutions, PM Chinh said that the Vietnamese and U.S. economies complement each other with healthy competition.

The two countries are comprehensive strategic partners. Vietnam has also proactively engaged with various levels, sectors, and businesses in the U.S. to further enhance cooperation, mutual understanding, and share advantages and challenges, thereby promoting economic cooperation.

Vietnam is also actively resolving issues with U.S. partners in a fair, reasonable, and lawful manner.

The Ministry of Finance will review tax policies to ensure they are reasonable and harmonized, benefiting all sides.

The government will hold a meeting to review and propose new policies in line with current U.S. policies, aiming to promote more balanced trade.

Like us on Facebook or  follow us on Twitter to get the latest news about Vietnam!