Potential for VN-RoK cooperation is huge

November 11, 2010 | 19:55

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At the high-level roundtable on Vietnam-the Republic of Korea economic cooperation, PM Nguyen Tan Dung confirmed that the cooperation potential and demand between the two countries are huge. The two-way trade value is estimated at over $11 billion in 2010.

At the high-level roundtable on Vietnam-the Republic of Korea economic cooperation, PM Nguyen Tan Dung confirms that the cooperation potential and demand between Vietnam and the Republic of Korea are huge, Seoul, November 11, 2010 – Photo: Nhat Bac

While attending the G20 Summit in Seoul, , PM Nguyen Tan Dung and the Vietnamese Government delegation on November 11 partook in the roundtable held by Korean agencies in coordination with the Vietnamese Ministry of Foreign Affairs, with the participation of over 100 leaders and representatives of research institutes, economic organizations and leading enterprises of the two countries.

There is still room for further cooperation

Addressing the talk, PM Nguyen Tan Dung said foreign investors from 100 nations and territories are implementing 12,000 projects with the total registered capital of more than $190 billion in Viet nam.

He said the RoK has become Vietnam’s leading investment and trading partner and is also the biggest ODA donor.

PM Nguyen Tan Dung (2^nd from right) and the Vietnamese Government delegation attend the roundtable on Vietnam-Republic of Korea economic cooperation, Seoul, November 11, 2010 – Photo: Nhat Bac

To become an industrialized country by 2020 with GDP growing 7-8 per cent annually and the investment capital for development reaching $250 billion in the next 5 years, Vietnam will accelerate international economic integration and attract more foreign capital, advanced technologies and managerial skills, the PM said.

He called for Korean firms to expand investment and business in Vietnam, especially in socio-economic infrastructure development, production of new materials, energy and hi-tech products, auxiliary industry, human resource development, healthcare, forestry, agriculture and seafood.

The roundtable on Vietnam-Republic of Korea economic cooperation, Seoul, November 11, 201 - Photo: Nhat Bac

Boosting cooperation for joint development

The Korean delegates highly appreciated great economic achievements Vietnam has gained, including per capita GDP of over $1,000 in 2010 and higher status in the international arena. The Vietnam-RoK relationship has developed unceasingly, especially in trade, investment, labor, culture, education, science and technology.

PM Nguyen Tan Dung (2^nd row, 2^nd from left) and the Vietnamese Government delegation witness the signing ceremony of a cooperative deal by PetroVietnam and its Korean partners, Seoul, November 11, 201 – Photo: Nhat Bac

The same day, PM Dung witnessed the signing ceremony of a cooperative deal by PetroVietnam and its Korean partners to build Thai Binh 2 coal-fired power plant, Vung Tau gas-fueled power plant, the LNG depot, and Nam Con Son 2 gas pipeline.