The Vietnamese Government welcomes and creates favourable conditions for foreign businesses to make investments in Vietnam, including those from the Republic of Korea (RoK).
Prime Minister Nguyen Xuan Phuc (R) and Chairman of the Federation of Korean Industries Huh Chang-Soo. (Photo: VNA)
Hanoi (VNA) – The Vietnamese Government welcomes and creates favourable conditions for foreign businesses to make investments in Vietnam, including those from the Republic of Korea (RoK), Prime Minister Nguyen Xuan Phuc has affirmed.
Hosting reception in Hanoi on September 10 for Chairman of the Federation of Korean Industries Huh Chang-Soo, who led a RoK business delegation, PM Phuc lauded Korean investors for continuing their investment in large-scale projects in Vietnam, hoping that they will carry on pouring more capital into high-tech sectors, heavy industry, and infrastructure development.
PM Phuc voiced his hope that RoK companies will bring state-of-the-art technologies to Vietnam, work to protect the environment, create jobs for local people, and contribute to Vietnam-RoK relations.
He wished for stronger cooperation between enterprises of both nations and suggested the RoK side import more from Vietnam in order to balance trade.
Furthermore, the Government leader asked businesses to channel more efforts into realising the set target of 100 billion USD in bilateral trade by 2020.
Vietnam and the RoK are enjoying a fruitful strategic cooperative partnership, he said, adding that nearly 160,000 Vietnamese and RoK nationals are living in each nation, serving as a bridge to connect the two peoples and contribute to their future.
Huh Chang-Soo, for his part, highlighted Vietnam’s strong economic growth and sound relations between the two nations, saying that the two factors will open up various cooperative opportunities for Vietnamese and RoK enterprises.
He said that bilateral relations have not only been thriving in economy, but also in other sectors such as culture, tourism, cuisine, and sport.
Representatives of RoK corporations informed the Vietnamese leader of their activities in Vietnam and hoped to receive further support from the Vietnamese Government and relevant authorities. –VNA
Vietnam and the Republic of Korea (RoK) have secured successful outcomes in the textiles sector based on their establishment of a cooperative system that supplements one another with technology and human resources.
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The northern province of Vinh Phuc promoted its potential and called for investment at a conference held in Gyeonggi province of the Republic of Korea (RoK) on July 27.
Six firms from the Republic of Korea (RoK) held a ceremony to receive licences from the authorities and start the construction of their plants in the Dung Quat economic zone in the central province of Quang Ngai.
The Vietnamese National Assembly has always paid attention to building suitable policies and laws, and ensuring a favourable investment environment for foreign businesses in general and those from the Republic of Korea (RoK) in particular, said NA Chairwoman Nguyen Thi Kim Ngan.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
Prime Minister Nguyen Xuan Phuc (R) and Chairman of the Federation of Korean Industries Huh Chang-Soo.
