State leader asks for Hyundai Motor’s help to raise local contents
President Tran Dai Quang received Hyundai Motor Vice Chairman Chung Eui-sun on March 28, asking the group to support its Vietnamese partner in personnel training and technology transfer, and increase the rate of domestically made content in its products.
President Tran Dai Quang (R) receives Hyundai Motor Vice Chairman Chung Eui-sun on March 28 (Photo: VNA)
Hanoi (VNA) – President Tran Dai Quang receivedHyundai Motor Vice Chairman Chung Eui-sun in Hanoi on March 28, asking thegroup to support its Vietnamese partner in personnel training and technologytransfer, and increase the rate of domestically made content in its products.
He reiterated that Vietnam is open to and creates allpossible conditions for foreign firms, including those from the Republic ofKorea (RoK), to do long-term business.
Welcoming Chung’s working visit to Vietnam amidthe two countries’ 25th anniversary of diplomatic ties, the host leaderhighlighted vigorous growth of bilateral relations, noting that the countriesestablished the strategic cooperative partnership in 2009 and have maintainedhigh-level visits, helping bolster mutual understanding and political trust.
He stressed impressive economic, trade andinvestment cooperation outcomes, including the signing of a bilateral freetrade agreement (FTA). The RoK has become the top foreign investor, the secondbiggest ODA and tourism partner, and the third largest trade partner ofVietnam. The RoK’s direct investment in Vietnam is surging, exceeding 3.1billion USD in the first two months of 2017.
President Quang hopes that on the basis of thesound political ties and the Vietnam-RoK FTA, Hyundai Motor will continueexpanding investment in the Southeast Asian nation.
For his part, Chung Eui-sun said Hyundai Motorset up a joint venture to manufacture, assemble and distribute cars in Vietnamalmost a decade ago. This joint venture’s automobiles have also been shipped toother countries in the region.
During that time, the group has receivedsubstantial cooperation and assistance from the Vietnamese partner and localauthorities, he said, adding that it will send experts to Vietnam to givetraining to its partner’s staff in the time ahead.
He attributed the RoK’s soaring directinvestment in Vietnam to appropriate policies and effective assistance providedby the Vietnamese State and Government.
Aside from stepping up investment and technologytransfer, Hyundai Motor will further engage in social welfare projects inVietnam, the Vice Chairman added.-VNA
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President Tran Dai Quang (R) receives Hyundai Motor Vice Chairman Chung Eui-sun on March 28 (Photo: VNA) 
