President suggests Lotte Group invest more in Vietnam
President Nguyen Xuan Phuc welcomed Lotte Group’s investment of nearly 5 billion USD in Vietnam and suggested the Republic of Korea’s conglomerate further invest in Vietnam’s large projects, while hosting Lotte Chairman Shin Dong-bin in Hanoi on August 31.
President Nguyen Xuan Phuc (R) and Lotte Chairman Shin Dong-bin at the reception in Hanoi on August 31. (Photo: VNA)
Hanoi (VNA) – President Nguyen Xuan Phuc welcomedLotte Group’s investment of nearly 5 billion USD in Vietnam and suggested theRepublic of Korea’s conglomerate further invest in Vietnam’s large projects,while hosting Lotte Chairman Shin Dong-bin in Hanoi on August 31.
Expressing his delight at the two nations’ strategic partnership being consolidated across fields, particularly trade, investment and political trust,he noted RoK firms are taking the lead in terms of FDI volume in Vietnam with atotal capital of 80 billion USD.
Bilateral trade value has reached 78 billion USD, with the RoK now the third largest trade partner of Vietnam.
The State leader thanked Lotte for helping Vietnam in pandemicprevention and control, notably an aid worth 3.7 billion VND (157,766 USD),discount programmes for necessities, and the provision of face-mask and gifts forworkers.
The host, guest, and other participants of the reception pose for a group photo (Source: VNA)
For his part, Shin thanked the VietnameseGovernment, ministries, sectors and localities for their support for his group over the pasttime.
He informed his host on a number of Lotte’s projectsearmarked for Hanoi, including a shopping centre expected to attract some 10million visitors annually.
Lotte also wants to promote the building of a startupecosystem in support of Vietnamese youth and invest in Vietnamese start-ups,Shin affirmed.
According to him, since 1996, the group has invested in Vietnam across many fields, with its capital totaling 40 trillion VND and current number of employees exceeding 20,000.
Agreeing with the group’s investment orientations, particularlythose involving start-up development and job creation, President Phuc hoped Lotte will contribute to enhancing the nations’ economic cooperation toward 100 billion USD in bilateral trade revenue.
Lotte's projects have helped to meet the growing needs of Vietnamesepeople given a rapidly expansion of the local middle class and of 200,000Koreans living and working in Vietnam, he said.
He went on stressing that the two countries’ businesses play an important role in lifting the Vietnam – RoK relationsto new heights this year in celebration of the 30th anniversary oftheir diplomatic relations./.
The Republic of Korea (RoK)’s Lotte Duty Free company opened a duty-free store at Noi Bai international airport in Hanoi on July 28, one year after the launch of the second of its kind in Nha Trang.
Ho Chi Minh City and Lotte Properties HCMC, owned by Lotte Group of the Republic of Korea (RoK), have agreed to enhance their cooperation, especially in smart urban building.
National Assembly Chairman Vuong Dinh Hue received leaders of leading groups and enterprises of the Republic of Korea in Seoul on December 13, within the framework of his official visit to the country.
The Party and State of Vietnam always attach great importance to and give top priority to the development of Vietnam–China relations. Vietnam is ready to work with the Chinese Party and State to further deepen the Comprehensive Strategic Cooperative Partnership and promote the building of the Vietnam-China community with a shared future that carries strategic significance.
Under the leadership of President Ho Chi Minh and the CPV, President Cuong said, the press has been a steadfast force on the ideological and cultural front, rallying the masses to pursue national aspirations.
NA Chairman Tran Thanh Man stressed the need to accelerate the application of artificial intelligence and smart teaching equipment, innovate teaching and assessment methods, and further improve the quality of formal education.
He also pledged that the NA will promote its ongoing supervision, making sure that every promise must lead to results, and every commitment must bring about real changes.
Minister of Industry and Trade Nguyen Hong Dien welcomed the proposals put forward by the US side and reiterated Vietnam’s request for consideration of key areas of interest, including reciprocal tariff policies and access for Vietnamese key export products to the US market.
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.
The show, together with a grand parade to be held silmutaneously at Ba Dinh Square in Hanoi, will celebrate the 80th anniversary of the August Revolution, the National Day, and the General Staff of the Vietnam People’s Army (VPA).
In particular, in April 2023, the two sides successfully carried out a joint operation that dismantled a major organised, transnational drug trafficking ring involving both Vietnamese and Cambodian suspects.
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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New Zealand is currently one of Vietnam’s most important partners in the region, marked by a high level of political trust, strong and reliable defence and security cooperation, and increasingly open economic, trade, and investment ties.
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Addressing concerns over university education spending, Son explained that as public universities gain greater autonomy, the Ministry of Finance has scaled back recurrent state funding. “Over the past decade, as autonomy has increased, the State's support has steadily declined”, he noted
Lao Minister of Foreign Affairs Thongsavanh Phomvihane affirmed that the presence of Vietnamese press offices in Laos vividly demonstrates the great friendship, special solidarity, and comprehensive cooperation between the two nations, as the press is not only a means of communication but also an important bridge for spreading consciousness about the history, values, and strategic depth of the Laos – Vietnam relationship to the people of both countries and the international community.
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.
President Nguyen Xuan Phuc (R) and Lotte Chairman Shin Dong-bin at the reception in Hanoi on August 31. (Photo: VNA) 
The host, guest, and other participants of the reception pose for a group photo (Source: VNA) 
