Deputy PM pledges facilitation of RoK corporation’s operation in Vietnam
Deputy Prime Minister Le Minh Khai received in Hanoi on May 10 Lee Sang-Woon, Vice Chairman and COO of Hyosung Corporation – the third biggest investor from Republic of Korea (RoK) in Vietnam after Samsung and LG, pledging to facilitate the conglomerate’s operation in the country.
Deputy Prime Minister Le Minh Khai (R) and Lee Sang-Woon, Vice Chairman and COO of Hyosung Corporation, at their meeting in Hanoi on May 10. (Photo: VNA)
Hanoi (VNA) – Deputy Prime Minister Le Minh Khai received in Hanoi on May 10 Lee Sang-Woon, Vice Chairman and COO of Hyosung Corporation – the third biggest investor from Republic of Korea (RoK) in Vietnam after Samsung and LG, pledging to facilitate the conglomerate’s operation in the country.
Appreciating the cooperative relationship between the two nations’ governments, Khai highlighted the crucial role of Korean investors in Vietnam, especially global-scale conglomerates like Hyosung.
The Deputy PM acknowledged the corporation’s effective investment and business activities in various sectors such as industry, construction, trade, IT, as well as its corporate social responsibility efforts. Since 2007, the group has channeled more than 4 billion USD into Vietnam.
For his part, Lee said nearly all of Hyosung's factories in the RoK have been transferred to Vietnam. Most recently, the conglomerate has invested in a carbon fiber plant worth 730 million USD in the southern province of Ba Ria-Vung Tau. The facility is currently the most modern of its kind in the world.
Hyosung wishes to build a made-in-Vietnam ATM manufacturing plant and a large data centre in Ho Chi Minh City's high-tech zone, he went on.
Welcoming Hyosung's expansion plans in industries involving raw materials, power systems, data centres, and biofuels, among others, the Deputy PM requested the company prioritise environmental protection, promote partnerships with Vietnamese enterprises, utilise materials that Vietnam can produce, and ensure the welfare of workers.
🎃 Taking into account Hyosung's interest in joining the modernisation of Vietnam's banking system, Khai suggested the conglomerate collaborate with the State Bank and the Ministry of Finance to discuss specific details./.
Prime Minister Pham Minh Chinh received Chief Financial Officer (CFO) of Samsung Electronics Park Hark-kyu in Hanoi on May 9, calling on the firm from the Republic of Korea (RoK) to view Vietnam as a strategic manufacturing and export base.
Vietnam is seen a next generation workshop and a growing market to become an advanced research and development (R&D) centre, said an article published by Dong-a Ilbo newspaper of the Republic of Korea (RoK).
Genuone Sciences, the Republic of Korea’s leading pharmaceutical company, announced on February 26 that it signed a business agreement with Vietnam’s Imexpharm Joint Stock Company (IMP) on the transfer of technology for seven products, including medications for the treatment of cardiovascular and diabetes-related diseases.
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Deputy PM Le Thanh Long proposed countries promote shared values, including building trust, sincerity, and solidarity among nations and peoples; fostering cooperation spirit and responsible behaviour as well as upholding international law and the UN Charter; and placing people at the centre and as the goal, the key player, and the driving force of all policies.
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The Vietnamese Embassy in Israel is closely coordinating with relevant local agencies to stay informed and provide the utmost support possible for Vietnamese nationals.
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The country is willing to participate in collective efforts to promote cooperation and mobilise resources to advance the current priority issues of developing countries, such as trade, investment, infrastructure connectivity, making the most of scientific and technological advances for development, and people-to-people exchanges, Hang said.
During the negotiations, the US highly evaluated Vietnam’s goodwill and efforts, affirmed its appreciation for the bilateral relationship, acknowledged Vietnam’s proposals and concerns, and considered these an important basis for continuing discussions and moving towards a final agreement.
The Chairman stressed the need for stricter fiscal discipline, faster digital transformation, and more efficient management of State budget revenues and expenditures.
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General Nguyen Tan Cuong, Chief of the VPA’s General Staff and Deputy Minister of National Defence reaffirmed Vietnam’s unwavering gratitude for Cuba’s invaluable support during its struggle for independence and nation-building efforts, and pledged to stand shoulder-to-shoulder with Cuba as it navigates current challenges.
