PM calls on Korean investors to expand operations in Vietnam

Prime Minister Nguyen Xuan Phuc (R) and Chairman of the SK Group Chey Tae-won (Source: VNA)

During a reception in Hanoi on November 8 for Chairman of the SK Group Chey Tae-won, the PM asked the SK Group, a multi-sectoral corporation operating in the fields of energy, telecommunications, information technology, to continue supporting the Vietnamese government’s economic development orientations, especially amid the fourth industrial revolution.

He said the Vietnamese Government assigned the Ministry of Planning and Investment to study a national strategy, and asked the SK Group to join in the effort. The PM lauded the group’s support for the construction of a national innovation centre, an important part in Vietnam’s industrial revolution strategy 4.0.

PM Phuc said the Government of Vietnam is stepping up equitisation and divestment in major and effective State-owned enterprises, mostly those working in the spheres of telecommunications, chemicals, processing industry, beverages, aviation and energy.

The Vietnamese Government always encourages foreign investors, including the SK Group with financial capability, expertise, brand and markets, to join in the process as strategic investors, he said.

As Vietnam is home to nearly 700,000 enterprises, the PM suggested the SK Group connect Vietnamese small and medium-sized enterprises via its value chain and global market while promoting investment in fields of its strength such as semi-conductors, smart urban development, petrochemicals, oil and gas, renewable energy, energy saving and information technology.

He went on to say that the Vietnamese Government is working to improve the business climate, thus creating favourable conditions for investors, including those from the RoK.

Chey, for his part, said the group has launched several new projects in Vietnam, including its investment in Masan Vietnam, and wants to invest in other private groups in the country.

He said the SK Group is interested in Vietnam’s equitised enterprises and those planning for equitisation, environmental protection and social activities in the country.

The chairman pledged that the SK Group will do its best in business fields in Vietnam, thus contributing to the country’s socio-economic development and lifting bilateral ties.

He said the group wants to offer ideas for the development of more Vietnamese SMEs so as to reach 1 million firms by 2020, and propose measures to protect the environment and promote environmental treatment technologies in Vietnam.