Deputy PM hosts Korean Minister of Small- and Medium-sized Enterprises and Startups

Updated: 10:39, 30/08/2024

Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son received Korean Minister of Small- and Medium-sized Enterprises and Startups Oh Young-joo in Hanoi on August 29.

Son expressed his delight at the thriving relationship between Vietnam and the Republic of Korea (RoK), highlighting the growing political trust and the remarkable progress in bilateral cooperation across all sectors, particularly economy.

Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son (R) Korean Minister of Small- and Medium-sized Enterprises and Startups Oh Young-joo at their meeting in Hanoi on August 29.

Recognising the significant potential for further collaboration, he urged both sides to encourage Korean enterprises to expand investments in Vietnam, especially in emerging fields such as artificial intelligence (AI), green economy, digital economy, and digital transformation. He also stressed the need to promote cooperation between their small- and medium-sized enterprises (SMEs) and startups.

Son requested the RoK to continue supporting Vietnam in developing high-quality human resources in semiconductor manufacturing and high technology, which are crucial for the growth of the Southeast Asian nation. He also suggested the two countries enhance their cooperation in training, capacity building, knowledge sharing, and innovation, while implementing more practical activities to connect their innovation startup ecosystems.

For her part, Oh expressed her wish for Vietnamese and Korean enterprises, particularly SMEs and startups, to strengthen joint work in developing new technologies, such as AI, digital technology, and innovation, thereby contributing to the overall development of the RoK-Vietnam ties.

The minister affirmed that her ministry will continue to share experiences in building a startup ecosystem and provide policy support to facilitate bilateral collaboration, enabling SMEs of both countries to expand cooperation and investment.

Earlier, in the afternoon of August 28, Permanent Deputy Minister of Foreign Affairs Nguyen Minh Vu held a meeting with the Korean minister and representatives of various Vietnamese and Korean enterprises operating in the sectors of software production, IT, AI, educational technology, and healthcare, among others.

At the meeting, Vu praised the business activities and contributions of Korean enterprises to Vietnam’s socio-economic development and expressed his hope that they would continue to expand their investment in the country, support Vietnamese firms in joining the value chain, and run their operations with efficiency, sustainability, social responsibility, and environmental protection.

Oh noted that there remain significant potential for the Vietnam-RoK cooperation, especially in the economic sphere.

She expressed her gratitude to the Vietnamese government for its continuous support and for creating favourable conditions for foreign investors, including Korean businesses, to operate efficiently and sustainably in Vietnam.