National Assembly Chairman Vuong Dinh Hue on December 14 received representatives from a number of leading corporations of the Republic of Korea (RoK) as part of his ongoing official visit to the country.
National Assembly Chairman Vuong Dinh Hue (L) meets with leaders of RoK groups (Photo: VNA)
Speaking to Chairman Hue, Cho Huyn-sang, Vice Chairman of Hyosung Group expressed his appreciation for efforts of Vietnamese workers who are working for the group under the “three on-site” working model in order to fulfill business plans of the firm.
The Hyosung Group’s leader proposed issues related to the firm’s investment in Vietnam, including the refund of value-added tax for Hyosung Vina Chemicals, and suggested speeding up the early construction of Ring Road 3’s Tan Van-Nhon Trach section, and approving the expansion of Tam Thang Industrial Park in the central province of Quang Nam.
NA Chairman Hue proposed the Hyosung Group to closely coordinate with the Ministry of Planning and Investment to accelerate the appraisal of the expanded Tam Thang Industrial Park project, and work with the Ministry of Finance and relevant agencies to proactively remove obstacles in tax refund.
Work on construction of the Ring Road No.3 project’s Tan Van – Nhon Trach section is expected to start in the first quarter of next year, he said.
While meeting with CEO of GS Engineering & Construction Corp (GS E&C) Lim Byeong-yong, NA Chairman Hue spoke highly of corporation’s infrastructure development in Vietnam, affirming that Vietnam encourages foreign enterprises with technology, capacity and experience to invest in infrastructure projects, especially strategic infrastructure for transport, large cities, healthcare, energy, and digital infrastructure.
Vietnam has issued a list of 157 national projects calling for foreign investment in the 2021-2025 period in various fields, including transport infrastructure, industrial and economic zone facilities, information technology infrastructure, education and health, he said, adding that Vietnam pledges to create favourable conditions for GS E&C.
The top legislator said the Vietnamese NA is focusing on perfecting the legal system to create the most favourable conditions for businesses, while strengthening its supervision to ensure the effective implementation of policies and laws.
Meeting with General Director of Kyobo Life Insurance Co., Ltd Pyun Jung-bum, NA Chairman Hue praised the firm’s plan to invest in Vietnam, saying that Vietnam has huge potential for the life insurance sector and that building and developing a safe, transparent, sustainable and efficient insurance market, especially towards digital transformation, is one of Vietnam’s priorities.
As one of the three largest life insurance companies in the RoK that has a strategy to expand business in Southeast Asia, Kyobo always pays special attention to the Vietnamese market, Jung-bum said.
The firm wishes to explore investment opportunities in the healthcare business and start-ups in order to contribute to Vietnam’s digital transformation process, he added.
Receiving Suh Kyung-bae, Chairman and CEO of Amorepacific Corporation, which is operating in manufacturing cosmetics and health care products, Hue said Vietnam welcomes and supports the firm’s plan to expand investment and business in the country in the near future.
He suggested the enterprise consider a plan to set up a production plant in Vietnam, saying that with its favourable and transparent business and investment environment, Vietnam becomes an attractive destination for foreign investors, even in the context of COVID-19 pandemic.
Kyung-bae said his firm intends to open a factory in Southeast Asia, in which it gives priority to choose Vietnam, or maybe cooperate with Vietnamese businesses in this field.
Meeting with Vice Chairman of Dongwon Group, Park In-ku, NA Chairman Hue highly appreciated the group’s effective operation in Vietnam, saying that it actively contributed Vietnam’s development of processing and manufacturing industry.
For his part, Park proposed the Vietnamese top legislator to support the signing of an agreement on seafood production and processing between the two countries.
The group is planning to expand investment in other fields such as logistics, transportation, containers, cold storage, packaging materials, food, and is considering investing in Vietnamese businesses operating in related fields, he said.
Top legislator meets KOVIFA chairman and Vietnamese family’s descendant in RoK
Chairman of the National Assembly Vuong Dinh Hue on December 14 received Chairman of the Korea-Vietnam Friendship Association (KOVIFA) Choi Young-ju and President of the Association of Vietnamese-Koreans Ly Huan in separate meetings during his ongoing visit to the Republic of Korea (RoK).
In a meeting with KOVIFA Chairman Choi, the top Vietnamese legislator briefed on his long and very successful talks with his RoK counterpart Park Byeong-Seug a day prior during which both leaders agreed on the need to lift the Vietnam-RoK ties to a comprehensive strategic partnership.
Looking back on the 30-year history of the bilateral relations, Hue said he is pleased to see what both countries have achieved together. The two countries have boasted exchanges and cooperation in all areas and remained each other’s top economic partners.
He partly attributed the achievements to efforts of Choi and KOVIFA members, saying they have acted as a bridge to strengthen mutual understanding between the two countries and their people.
He suggested KOVIFA coordinate with the Vietnam-RoK Friendship Association to organize activities in celebration of the 30th anniversary of the bilateral diplomatic relations in 2022. He also proposed holding a Vietnamese cultural festival in the RoK and vice versa, and unveiled that Vietnam plans to open a culture centre in the RoK.
Choi, for his part, said the COVID-19 pandemic has not only caused various challenges for exchange and business activities between the two sides but also presented new opportunities for their enterprises over the last two years. The KOVIFA will cooperate with other associations to develop plans for the bilateral ties’ 30th anniversary celebrations.
Talking to Ly Huan, Hue said he was pleased to meet with descendants of the Ly family originated from Vietnam. Since the Ly predecessors set their foot to the RoK nearly 1,000 years ago, the family has grown constantly and made considerable contributions to the host country’s development, while implementing many activities toward the homeland, he said.
The Vietnamese leader expected the Ly family to continue fostering post-COVID-19 bilateral exchanges and partnership between the two countries.