RoK establishes consultative body for major projects in VN

VGP - The Republic of Korea (RoK) has launched a consultative body consisting of government and company officials to boost realization of major development projects in Viet Nam and the United Arab Emirates (UAE), according to the RoK’s trade ministry said on May 2.

May 03, 2018 4:59 PM GMT+7

High-ranking officials from the state-owned energy and construction firms as well as other Korean investors and trade promotion agencies held the first meeting to review the upcoming projects in Viet Nam and the UAE.

The consultative body is part of the RoK’s President Moon Jae-in’s discussions to promote bilateral cooperation projects and development assistance during the Korean President’s visits to the UAE and Viet Nam in March.

The RoK’s Ministry of Trade, Industry and Energy said it will classify 24 major projects into three categories: engineering, procurement and construction; oil field exploration; and build–operate–transfer to provide specific support.

Viet Nam will announce plans to build new coal-fired power plants to meet the nation’s increasing demand for electricity.

In 2017, Viet Nam is the RoK’s fourth-largest trading partner, while the RoK is Viet Nam's second largest.

By Hoang Ha