DPM Dung receives Chairman of Special Committee for RoK New Southern Policy

Deputy Prime Minister Trinh Dinh Dung receives Chairman of the Special Committee for the Republic of Korea’s New Southern Policy Joo Hyung-chul in Chu Lai Open Economic Zone in the central province of Quang Nam on November 9, 2019. Photo: VGP

At the meeting, Dung hailed that the Viet Nam-RoK strategic cooperative partnership has been advancing across fields with the Northeast Asian country being the biggest foreign investor, the second ODA provider, and the third largest trading partner of Viet Nam.

Korean investment capital has accumulated US$64 billion in 7,300 valid projects, accounting for 18.4% and 25% in terms of investment capital and projects, respectively.

Meanwhile, the two-way trade value hit US$66.2 billion in 2018, up 7.6% against the previous year.

Dung spoke highly of the Korean Government’s active implementation of the New Southern Policy, aiming to strengthen exchanges and cooperation between the RoK and ASEAN, including Viet Nam as a key partner.

With a view to raising the bilateral trade value to US$100 billion per year, Dung urged the RoK to facilitate import of Vietnamese farm products such as fruits and pork meat and support Viet Nam to develop auxiliary industry towards balanced trade ties.

Dung also welcomed Korean firms to take part in oil and gas exploration and exploitation projects in Viet Nam’s continental shelf.

The Deputy PM took the occasion to affirm that Viet Nam advocates and commits to facilitating foreign corporations and scientific organizations, including Korean ones to take part in research and development and technology transfer to Vietnamese firms.

Joo consented with Deputy PM Dung on ways to foster the bilateral ties, pledging to direct the Presidential Committee on New Southern Policy to design and put forward cooperation programs and projects between the RoK and Viet Nam as well as other partners in the region.

By Thuy Dung