(Chinhphu.vn) – As part of the state visit to Korea, on the morning of August 12 local time in Seoul, the Ministry of Finance of Vietnam, the Korean Ministry of Trade, Industry and Energy (MOTIE), the Korea Chamber of Commerce and Industry (KCCI) and the Embassy of Vietnam in Korea held the Vietnam–Korea Economic Forum under the theme “Cooperation to Develop Production Chains in the New Era!”.
General Secretary To Lam and Korean Prime Minister Kim Min Seok attend the Vietnam–Korea Economic Forum.
The forum was attended by General Secretary To Lam, Korean Prime Minister Kim Min Seok, high-ranking representatives of the two countries and more than 400 leading enterprises, with over 500 delegates from both countries.
The forum was not only a space connecting business communities, but also played an important role in promoting bilateral economic, trade and investment cooperation. It thereby strengthened and deepened the friendship and increasingly extensive Comprehensive Strategic Partnership between Vietnam and Korea.
Speaking at the forum, Korean Prime Minister Kim Min Seok stressed that Korea and Vietnam had long been close, connected and increasingly trusting of each other. Since establishing diplomatic relations in 1992, after more than 30 years the two countries have become major trading partners, with Korea the largest investor in Vietnam and an indispensable economic partner in many fields.
Prime Minister Kim Min Seok said Korea and Vietnam needed to continue building an even longer-lasting and stronger relationship. In practice, the two countries had overcome challenges together, including the global financial crisis and the COVID-19 pandemic, while steadily expanding economic cooperation. Vietnam and Korea should broaden cooperation from traditional sectors to new and advanced sectors and move toward a multi-layered cooperative relationship.
The General Secretary said Vietnam was continuing to improve its institutions, the investment and business environment and remove “bottlenecks” to unlock resources and promote economic restructuring linked to a new growth model.
Prime Minister Kim Min Seok affirmed that Korea was ready to cooperate with Vietnam to diversify supply sources and ensure energy security. The memoranda of understanding signed during this visit would provide a solid foundation for expanding cooperation between the two countries in the future.
Prime Minister Kim Min Seok expressed confidence that, with a young workforce, attractive investment environment, existing trade network and development orientations for the new period, Vietnam would achieve its development goals and become a high-income country. Korea wished to expand comprehensive cooperation with Vietnam and, drawing on the experience that created the “Miracle on the Han River”, would always be a “solid companion” in creating the “Miracle on the Red River” together with Vietnam. He called on the two sides to increase support and create favourable conditions for enterprises of both countries to operate, and expressed the hope that their enterprises would continue to be pioneers in economic cooperation.
Prime Minister Kim Min Seok said Korea and Vietnam needed to continue building a longer-lasting and stronger relationship and wished to expand comprehensive cooperation with Vietnam.
Speaking at the forum, General Secretary To Lam shared that Vietnam’s socio-economic situation in 2024 and the first six months of 2025 had achieved many positive results. He stressed that 2025 was not only a year of “acceleration and breakthrough” to complete the development goals for 2021–2025, but also a pivotal year providing an important foundation and strong momentum for successfully achieving the two 100-year goals and bringing the country into a new era—an era of national rise, prosperity, civilisation and strength.
The General Secretary said Vietnam was continuing to improve its institutions and investment and business environment and remove “bottlenecks” to unlock resources and promote economic restructuring linked to a new growth model, with science and technology, innovation and the cultural values of the Vietnamese people as central drivers of development.
Regarding cooperation and foreign investment attraction, Vietnam was shifting from “broad-based attraction” to selective “in-depth attraction”, prioritising projects with advanced, new, high and clean technologies, modern governance, high added value, spillover effects and links to global production and supply chains.
The General Secretary wished Korean enterprises and groups to continue investing and expanding investment in Vietnam, especially in sectors where Korea has strengths and Vietnam has great potential.
The General Secretary asked Vietnam’s ministries, sectors and localities to strengthen dialogue to resolve difficulties and obstacles for Korean investors in Vietnam; continue reviewing and reforming administrative procedures; cut and simplify procedures; increase the use of digital technology and decentralisation and delegation of authority; and reduce compliance and input costs for people and enterprises. He called for preparations to attract investment, including transport infrastructure, human resources, electricity supply and clean land funds, and for the establishment of inter-sectoral working groups to resolve difficulties and support investors.
The General Secretary wished Korean ministries and sectors to continue supporting and promoting dialogue and investment connections, create conditions for Vietnamese enterprises to expand investment and operate effectively in Korea, and make Vietnamese goods more accessible to the Korean market.
The two sides will promote and implement effective measures to achieve the goal of bilateral trade turnover of USD 100 billion in 2025 and USD 150 billion in 2030; and continue increasing official development assistance (ODA), focusing on strategic infrastructure, including transport, energy, digital and climate-adaptation infrastructure.
Deputy Prime Minister Bui Thanh Son affirmed that Vietnam was committed to creating all favourable conditions to attract more Korean enterprises to invest in Vietnam and support existing Korean investors in expanding their investment, creating a foundation for successful, sustainable and long-term development.
The General Secretary said that the two sides needed to establish science and technology and innovation as important pillars of cooperation, particularly for enterprise and socio-economic development.
In the coming period, the General Secretary wished Korean enterprises and groups to continue investing and expanding investment in Vietnam, especially in fields where Korea has strengths and Vietnam has great potential, such as clean and green energy; heavy industries including electronics, automobiles, shipbuilding, chemicals and steel; strategic materials; semiconductor technology; artificial intelligence (AI); blockchain; and high-quality services in healthcare, education and urban development, particularly green and smart urban areas.
At the forum, Korean and Vietnamese enterprises exchanged views, shared information and recommended priority fields for cooperation, including clean and green energy, high-tech industry and digital infrastructure, with particular emphasis on strengthening production chains and value-chain links in these fields.
General Secretary To Lam and Korean Prime Minister Kim Min Seok with delegates at the Vietnam–Korea Economic Forum.
Speaking at the forum, Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son expressed confidence that Vietnam–Korea relations would continue to be strengthened, become more effective and develop sustainably, opening new steps in bilateral relations for the benefit of the two peoples and contributing to peace, stability and development in the region and the world.
Deputy Prime Minister Bui Thanh Son affirmed that Vietnam was committed to creating all favourable conditions to attract more Korean enterprises to invest in Vietnam and support existing Korean investors in expanding investment, laying the foundation for successful, sustainable and long-term development in Vietnam.
The Party and State of Vietnam are committed to always accompanying, listening to and sharing with international friends and partners, and wish to continue receiving their support and close cooperation, with foreign investors—especially Korean investors—serving as bridges and catalysts in the process of national construction and development.
General Secretary To Lam and Korean Prime Minister Kim Min Seok witness organisations and enterprises exchange cooperation agreements.
Source: Government News