During talks with the Republic of Korea’s President Lee Jae Myung in Hanoi on Thursday, Prime Minister Hung urged for improving the effectiveness of existing cooperation mechanisms to build a solid political foundation for expanding bilateral cooperation in all fields.
The Vietnamese Prime Minister underscored the need to deepen economic linkages, focusing on innovation and improving the quality of cooperation.
He called on both sides to coordinate in implementing key tasks under the Action Plan to raise bilateral trade to 150 billion USD in a more balanced manner by 2030. He also urged continued market opening for each other’s goods, greater support from the RoK in increasing localization rates and the participation of Vietnamese enterprises in Korean supply chains, as well as policies to facilitate Vietnamese business investment and operation in the Republic of Korea.
Additionally, he suggested the RoK share its experience in financial innovation, banking inspection and supervision, and in operating and participating in international financial centers in Vietnam.
Prime Minister Hung also called for enhanced cooperation in science and technology, innovation, and digital transformation; closer strategic coordination in ensuring sustainable energy security; and expanded collaboration in human resources development, culture, tourism, and people-to-people exchanges.
At the same time, he thanked President Lee Jae Myung and the Korean Government and urged the continued support and protection of the legitimate rights and interests of the Vietnamese community living, studying, and working in the RoK, as well as the further simplification of procedures for visa exemption for Vietnamese citizens. He affirmed that the Vietnamese Government will continue to create favorable conditions for the Korean community to live, study, and work long-term in Vietnam.
President Lee Jae Myung agreed with the Vietnamese Prime Minister’s proposals and affirmed that the RoK will work closely with Vietnam to achieve the target of 150 billion USD in bilateral trade by 2030 in a more balanced manner. He also pledged to facilitate deeper participation of Vietnamese enterprises in RoK's global supply chains.
President Lee reaffirmed the RoK's readiness to work with Vietnam toward achieving its development goals, becoming a developing country with modern industry by 2030 and a developed, high-income country by 2045.
