Vietnamese Prime Minister Pham Minh Chinh met South Korean President Yoon Suk Yeol in Japan’s Hiroshima on Friday evening, proposing South Korea boost its investment in Vietnam.

The two leaders are attending an expanded summit of the Group of Seven (G7) in Japan.

The top Vietnamese official expects South Korea to continue helping Vietnam with capital, technology, manpower and administrative management.

Vietnam is willing to welcome South Korean firms to invest in various fields, mainly infrastructure, said the prime minister.

The Southeast Asian country will continue to create more favorable conditions so that South Korean investors can expand their reach in the country, he stressed.

Prime Minister Chinh also looks to strengthen the partnership with South Korea to increase bilateral trade to VND3,520 trillion (US$150 billion) in 2030.

At the meeting, the Vietnamese government leader affirmed that Vietnam always attached great significance to the ties with South Korea and hoped for deeper partnership.

Vietnam is building a socialist law-governed state and a socialist-oriented market economy, with a focus on socialist democracy that considers people as the heart, the purpose and the driving force for development, said Prime Minister Chinh.

President Yeol said that South Korea saw Vietnam as one of its key partners. The Southeast Asian nation is South Korea’s third largest trade partner.

South Korea will deepen the multifaceted cooperation with Vietnam, affirmed the top South Korean official.

The two leaders were also determined to improve the quality of life for Vietnamese citizens in South Korea and South Korean nationals in Vietnam.

Furthermore, the representatives of the two nations reached a consensus on stronger collaboration in regional and global issues to maintain peace, stability and mutual growth.

Representatives of Vietnam and South Korea attend a meeting in Japan on May 19, 2023. Photo: VGP

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