Appreciating the cooperative relationship between the two nations’ governments, Khai highlighted the crucial role of Korean investors in Vietnam, especially global-scale conglomerates like Hyosung.

The Deputy PM acknowledged the corporation’s effective investment and business activities in various sectors such as industry, construction, trade, IT, as well as its corporate social responsibility efforts. Since 2007, the group has channeled more than 4 billion USD into Vietnam.

For his part, Lee said nearly all of Hyosung's factories in the RoK have been transferred to Vietnam. Most recently, the conglomerate has invested in a carbon fiber plant worth 730 million USD in the southern province of Ba Ria-Vung Tau. The facility is currently the most modern of its kind in the world.

Hyosung wishes to build a made-in-Vietnam ATM manufacturing plant and a large data centre in Ho Chi Minh City's high-tech zone, he went on.

Welcoming Hyosung's expansion plans in industries involving raw materials, power systems, data centres, and biofuels, among others, the Deputy PM requested the company prioritise environmental protection, promote partnerships with Vietnamese enterprises, utilise materials that Vietnam can produce, and ensure the welfare of workers.

Taking into account Hyosung's interest in joining the modernisation of Vietnam's banking system, Khai suggested the conglomerate collaborate with the State Bank and the Ministry of Finance to discuss specific details.

Vietnam improving readiness to attract foreign investment: official

Vietnam has been applying itself to making institutional, infrastructure, and manpower improvements in efforts to attract more foreign investment, especially in such big industries as electronics and semiconductor, said Deputy Minister of Planning and Investment Do Thanh Trung.

Corporations want to invest in semiconductors in Vietnam: minister

Many major semiconductor corporations want to invest in Vietnam, Minister of Planning and Investment Nguyen Chi Dung has said.

Investment attraction reaches 70% of the year plan

BAC GIANG - In April, Bac Giang province attracted 110.8 million USD of investment capital, 1.7 times higher than the same period in 2023. In accumulation, the province has lured total investment of over 780 million USD in the first four months, accounting for more than 70% of the 2024 plan. 

Four-month public investment disbursement reaches 14.66% of target

The disbursement of public investment in the first four months of this year was estimated to meet 14.66% of the set target and 15.65% of the plan assigned by the Prime Minister, according to the Ministry of Finance.

Vietnam ranks third in Southeast Asia in startup investment attraction

Vietnam maintained its third position in the number of investment deals and regained the third place in terms of total investment in startups in Southeast Asia.

Source: VNA