Permanent Deputy Prime Minister Nguyen Hoa Binh has affirmed the Vietnamese Government’s commitment to encouraging South Korean businesses to expand their investment in high-tech sectors such as electronics, semiconductors, and AI, the Voice of Vietnam has reported.

Speaking at the 2024 Vietnam-Korea Investment Cooperation Forum, held at Hanoi’s National Innovation Center on November 21, Permanent Deputy Prime Minister  highlighted that the call extends to areas where South Korea has strengths and Vietnam has high demand, including high technology, infrastructure development, renewable energy, new energy (hydrogen), biotechnology, innovation, and high-quality human resources training.

He called for stronger business links between South Korean small and medium-sized enterprises (SMEs) and their Vietnamese counterparts.

He also emphasized Vietnam’s adherence to the principles of “harmonious benefits and shared risks”, along with the “three guarantees” and “three together” policies.

The “three guarantees” ensure that the foreign-invested economic sector remains vital, that investors’ legitimate rights and interests are protected, and that political stability, social order, and consistent policy for long-term investor confidence are maintained.

The “three together” principles promote understanding between businesses, government, and citizens, shared visions for development, and collaborative efforts for mutual success.

Permanent Deputy Prime Minister  also urged South Korean businesses to support the participation of Vietnamese companies in South Korean corporate value chains, especially in areas where Vietnam has potential and need, and to consider Vietnam a strategic location for establishing high-tech research and development (R&D) centers.

Source: VnEconomy