Hanoi (VNA) – Prime MinisterPham Minh Chinh chaired a dialogue with the Republic of Korea (RoK)’sAmbassador Park Noh-wan and representatives of Korean associations and businessesin Vietnam in Hanoi on July 30.

The RoK, the largest FDI partner inVietnam at present, is investing in 9,383 projects worth over 79.8 billion USDin 19 of the 21 economic sectors and 59 of the 63 localities nationwide.

Highlighting the two countries’ flourishing relations in various spheres, PMChinh said Vietnam and the RoK have become leading partners of each other, andeconomic cooperation is always an important pillar of bilateral ties.

A number of Korean enterprises havebeen operating fruitfully and considerably contributing to socio-economicdevelopment in Vietnam, he noted.

Healso took this occasion to thank the RoK Government and people forsupporting Vietnam’s efforts in socio-economic development, including theCOVID-19 combat.

Over the past 35 years of reforms, the Party and State of Vietnam have issues manypolicies and laws to attract foreign investment and create an optimal businessclimate that has gradually matched international practices. The foreigninvested sector has been growing fast and effectively, becoming a crucial partof the economy and greatly helping with local development, according to theGovernment leader.

In September 2021, the PM held a dialogue with Korean businesses to learnabout difficulties and obstacles facing them and also listen to their initiativesand proposals for institutional, policy and administrative procedure reforms inorder to facilitate production and business activities.

So far, 25 of the 29 recommendations and proposals raised at that event have beenhandled, especially those related to COVID-19 prevention and control andbusiness facilitation. Authorities of Vietnam are working to deal with the fourremainders.

The PM asked representatives of Korean associations and enterprises to point outproblems they have encountered and suggest ideas for further improving theirinvestment, production and business activities in Vietnam, thus contributing tothe development of bilateral relations.

PM Chinh also required Vietnamese ministries,sectors, agencies and localities to work out appropriate solutions.

Ambassador Park noted the dialogue last September has given more strength tocompanies which were struggling with the pandemic’s impacts then, and they havereceived practical assistance.

He cited some economists as predicting that Vietnam can easily attain a growthrate of at least 6% this year, sustain macro-economic and exchange rate stability,and boost export - import growth even amid global economic uncertainties and disruptedglobal supply chains.

The diplomat attributed those achievements to the country’s stability and theGovernment’s effective governance, which is highly valued by the RoK Government and businesses.

Together with economic recovery, Vietnam’strade and investment links with the RoK are also thriving, and if such recoveryand growth trend is maintained, bilateral trade can reach 100 billion USD thisyear, ahead of the target of 2023, he added./.