Vietnamese Prime Minister Pham Minh Chinh has pledged to provide the best possible conditions for foreign investors, particularly those from South Korea, to operate smoothly in Vietnam. Last year, two-way trade between Vietnam and South Korea reached $76.1 billion, with South Korea's direct investment in Vietnam totaling $87 billion. Prime Minister Chinh hopes to increase trade between the two countries to $100 billion in 2025 and $150 billion in 2030. South Korean businesses have expressed interest in investing in renewable energy, aircraft engine manufacturing, shipbuilding, digitalization, banking, and healthcare sectors in Vietnam. Prime Minister Chinh encourages collaboration in new areas such as the digital economy, green economy, circular economy, and emerging industries like artificial intelligence. Vietnamese ministries, sectors, and localities have been assigned to consider opinions from the sessions for investment attraction, business environment improvement, and competitiveness enhancement [eb4aa0ae].
Vietnamese Prime Minister Pham Minh Chinh and his spouse have embarked on an official visit to the Republic of Korea (RoK) from June 30 to July 3. This visit marks the first official visit by a senior Vietnamese leader to the RoK since the two countries upgraded their bilateral relationship to a comprehensive strategic partnership in 2022. The RoK is Vietnam's leading economic partner and largest investor, with a total investment of US$86 billion as of April 2024. The purpose of the visit is to enhance cooperation in various fields, including politics, national defense, security, economy, culture, tourism, science and technology, healthcare, education, and emerging areas such as semiconductors, supporting industries, digital and green transition, circular economy, and climate change. Prime Minister Chinh will also seek continued support from the RoK for the Vietnamese community in the RoK and strengthen bilateral collaboration on regional and international issues [83911e6a].