President Nguyen Xuan Phuc (R) receives Chairman and CEO of CJ Group Sohn Kyung-shik in Seoul on December 5. (Photo: VNA)Meeting with Chairman and CEOof CJ Group Sohn Kyung-shik in Seoul, President Phuc highly valued the firm’srealisation of its investment commitments in the fields of food and animal feedproduction, biotechnology, logistics, and culture in Vietnam. It currently has 24subsidiaries operating in eight main sectors in Vietnam, earning 1.5 billionUSD in revenue, rising 10-fold over the last 10 years.
He asked CJ to continueexpanding investment in Vietnam, turn the country into its global productionand business centre, move its Southeast Asia headquarters to Vietnam so as to optimiseopportunities generated by the free trade agreements (FTAs) to which Vietnam isa party, and actively distribute Vietnamese goods to global markets.
Sohn noted over the past years, his group has implemented thecommitments on clean food production and biotechnology, turning Vietnam intothe third largest among its 30 markets around the world.
In the time ahead, the country will become the production andbusiness centre of CJ in Southeast Asia, he added.
Talkingto Chairman of Lotte Group Shin Dong-bin, President Phuc affirmed that Vietnamalways creates conditions for this enterprise to increase its presence and continue operating successfully in Vietnam.
He welcomed Lotte’s launch of a major urban project in Ho ChiMinh City last September and preparation for opening Lotte Mall Tay Ho in Hanoiin August 2023.
He asked the group to consider investing in a modern tradecentre and residential area in Long An province, adding that agencies andlocalities of Vietnam will coordinate with Lotte to ensure harmonious interestsbetween the two sides.
President Nguyen Xuan Phuc (R) and Vice Chairman and CEO of LG Corp. Kwon Bong-seok at their meeting on December 5. (Photo: VNA)The State leader expressed his hope that LG will increaseinvestment in Vietnam, especially in the areas it is strong at like automobile andmobile phone components, strengthen cooperation in IT and software training, and place its biggest manufacturing centre in Vietnam.
The country will provide the best investment environment and infrastructurefor investors, he affirmed.
Kwon said LG, present in Vietnam since 1995, has invested 5.3billion USD in multiple fields so far, including camera, electronics, householdappliance, and auto component production, and it is planning to pour another 4billion USD into the country.
It hopes to continue investment cooperation in various areasin Vietnam and develop the country into its centre for manufacturing smartphonecameras in the future, he stated.
Receiving Chairman of Daewoo E&C Jung Won-ju, PresidentPhuc spoke highly of the group’s strong investment in Vietnam, which hedescribed as an appropriate move amid flourishing relations between the twocountries.
He asked Daewoo E&C to build a big hospital in Vietnam,which has a population of 100 million with high demand for medical examinationand treatment, and invest in the development of infrastructure, oil and gas,smart cities, and services for the RoK’s investment ecosystem in the SoutheastAsian country.
Jung noted his firm wishes to invest more in Vietnam,particularly in oil and gas, green growth, environment, and communitydevelopment, adding that it is about to hold a Vietnam - RoK investmentcooperation forum in mid-December so as to enhance partnerships between leadingenterprises of the two countries.
Meeting CEO of HyundaiMotor Chang Jae-hoon, the Vietnamese leader lauded its successful investment inthe country and called on the firm to keep working with businesses of Vietnamto invest in supporting industries, especially automobile spare partproduction.
President Nguyen Xuan Phuc (right) receives CEO of Hyundai Motor Chang Jae-hoon in Seoul on December 5. (Photo: VNA)Chang expressed the firm’sintention to expand investment in e-vehicle production to serve not only theVietnamese market but also Asia.
Meanwhile, President highly valued GS E&C Corp.’spractical and effective contributions to infrastructure development in Vietnam,asking it to continue expanding cooperation and investment in green energy,environmental protection, climate change adaptation, and infrastructure,especially transport, urban, healthcare, energy, and digital infrastructure.
Vice Chairman and CEO of GS E&C Lim Byeong-yong informed the leader of some important projects his company is implementing in Vietnam, notingthat it is working hard to carry out some new residential areas in Vietnam anddevelop a system of international schools to improve educational infrastructurein the south of Ho Chi Minh City.
Talking to President and CEOof Doosan Heavy Yeonin Jung, President Phuc highly valued the enterprises’ manufacturingof heavy-duty equipment in Vietnam and asked it to join the country in creatinggreen and clean energy solutions and realising the sutainable developmentgoals.
Vietnam welcomes Korean businesses, including Doosan,stepping up renewable energy development in the country, he added.
Jung said his firm is shifting its investment from coal-firedthermal power to renewable energy to produce electricity. It is applying theRoK’s advanced wind power model to Vietnam, cooperating with Vietnamese partnersto develop green energy sources, and sharing experience with the Vietnameseside so as to obtain the best interests together.
Also on December 5, President Phuc received a group of Saigontel’spartners led by Lee Kang-hoon - President of the Korea Overseas Infrastructure andUrban Development Corporation (KIND) under the RoK’s Ministry of Land,Infrastructure and Transport, along with a group of Dat Viet/Kocham partners./.
VNA
