RoK’s Lotte Group wants to expand investment in Hanoi
Chairman of the Hanoi People’s Committee Nguyen Duc Chung had a working session on December 3 with the Republic of Korea’s Lotte Chairman Shin Dong-bin on the group’s business results in 2018 and its plan to expand investment in the capital city in the time to come.
Chairman of the Hanoi People’s Committee Nguyen Duc Chung (R) and Lotte Chairman Shin Dong-bin (Photo: VNA)
Hanoi (VNA) – Chairman of the Hanoi People’s Committee Nguyen DucChung had a working session on December 3 with the Republic of Korea’s LotteChairman Shin Dong-bin on the group’s business results in 2018 and its plan toexpand investment in the capital city in the time to come.
According to Shin, Lotte has injected 40 trillion VND (1.71 billion USD) in itsprojects in Vietnam and created around 20,000 jobs for local workers. Inaddition, the group has supported Vietnam in human resources training andstartup projects. Some Lotte scholarships have been granted to Vietnameseexcellent students since 2008, while Vietnamese startups have receivedassistance from the group from 2016.
Lotte is carrying out a number of large projects in Hanoi, including Lotte Mallin Tay Ho district, he said, expressing his hope that they will be welcomed bylocal residents.
Lotte has huge potential to bolster investment in Vietnam, especially in thehospitality sector, he underlined, describing Hanoi as a credible market whenthe hotel reservation rate at Lotte Centre reached 98 percent and 100 percenton December 3-4.
Hailing Lotte’s activities in Hanoi, Chung affirmed that the corporation has madesignificant contributions to the city’s social welfare projects and createdfavourable conditions for Vietnamese agricultural products to hit the shelvesof Lotte Mart chains in the RoK.
Briefing Shin on Hanoi’s economic development, he said that this is the eightconsecutive years Hanoi has recorded rosy growth, with gross domestic productsrising 8.56 percent against the previous year.
The city is working to put forth administrative reforms to facilitate businessof both domestic and foreign investors, including those from the RoK, hestressed, wishing that Lotte will continue expanding its business in thelocality.
“Hanoi stands ready to coordinate and remove bottlenecks for the firm to ensureits effective operation in the city”, Chung affirmed. -VNA
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Chairman of the Hanoi People’s Committee Nguyen Duc Chung (R) and Lotte Chairman Shin Dong-bin
