Representatives of Gia Dinh Group and the leadership of Lang Son Province at the “Meet Korea 2025” conference

On May 14, in Hung Yen Province, the Ministry of Foreign Affairs, in coordination with Hung Yen Province and the Embassy of the Republic of Korea in Vietnam, organized the “Meet Korea 2025” conference. The conference aimed to discuss measures to promote cooperation in trade, industry, science and technology, and digital transformation between Vietnam and South Korea, while also promoting cooperation between northern localities and Korean partners and businesses.

The conference was attended by Mr. Bui Thanh Son, Member of the Party Central Committee, Deputy Prime Minister and Minister of Foreign Affairs; H.E. Choi Youngsam, Ambassador Extraordinary and Plenipotentiary of the Republic of Korea to Vietnam; representatives of the leadership of 21 northern provinces and cities; nearly 200 Korean businesses and investors; and representatives of Gia Dinh Group. Mr. Duong Xuan Huyen, Standing Vice Chairman of the Lang Son Provincial People’s Committee, participated in the panel discussion at the conference.

In his opening remarks, Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son emphasized that the “Meet Korea 2025” conference was of great significance, marking the 10th anniversary of the signing of the Vietnam–Korea Free Trade Agreement (VKFTA) and the 10th anniversary of this meaningful event series being held in Vietnam.

The relationship between Vietnam and South Korea has developed remarkably, becoming a comprehensive strategic partnership in 2022. To date, South Korea is Vietnam’s largest foreign direct investor, with 10,128 projects and total registered capital of more than USD 92 billion. South Korea also ranks second in development cooperation (ODA), labor, and tourism, and third in trade with Vietnam. In the other direction, Vietnam is South Korea’s largest economic partner in ASEAN, accounting for 30% of South Korea’s total investment and 50% of its trade turnover with the region. The two countries are also working toward the goal of raising bilateral trade turnover to USD 100 billion by 2025 and USD 150 billion by 2030, in a balanced and sustainable manner.

Vietnam’s strategic target for 2025 is to achieve 8% economic growth, creating momentum, capacity, position, and pace for double-digit growth in subsequent years; by 2030, become a developing country with modern industry and upper-middle income; and by 2045, become a developed country with high income.

To realize these objectives, Vietnam is focusing on implementing numerous groups of solutions in a decisive and coordinated manner, promoting strategic breakthroughs in institutions, infrastructure, and human resources under the principle of “open institutions, seamless infrastructure, smart governance and human resources” to reduce costs, enhance the competitiveness of goods, and facilitate business operations.

As part of the conference, representatives of Vietnamese and South Korean provinces, cities, and businesses participated in panel discussions, sharing and discussing investment opportunities, introducing their potential and strengths, and presenting investor support policies to promote investment attraction and encourage Korean businesses to confidently expand production and develop their business operations in Vietnam.

Speaking at the panel discussion, Mr. Duong Xuan Huyen, Standing Vice Chairman of the Lang Son Provincial People’s Committee, outlined Lang Son’s potential and strengths in socio-economic development. In addition to developing border-gate economic zones, Lang Son Province is currently focusing on investment and development of industrial clusters and industrial parks across the province.

At the panel discussion, the Standing Vice Chairman of the Lang Son Provincial People’s Committee affirmed that the province is always interested in inviting and cooperating with groups operating in various sectors to invest in the province. In particular, Lang Son places strong emphasis on and seeks cooperation with South Korean groups, especially in the province’s border-gate economic zones, industrial parks, and industrial clusters. Lang Son Province is committed to accompanying investors and creating the most favorable conditions throughout the process of investment, production, and business operations in the province.

To attract investment, in addition to the preferential policies provided by the State, Lang Son Province has also introduced various local incentives to support investors, including preferential tax rates and corporate income tax incentives, land rental incentives, support for investment in infrastructure construction, and labor training support for each project. At the same time, the province is studying additional preferential policies tailored to individual investors investing in specific sectors within the province.

For approved industrial cluster and industrial park projects, Lang Son Province is directing relevant departments and agencies, as well as district-level People’s Committees where industrial parks and clusters are located, to urgently implement measures to accelerate land handover to investors, particularly for the VSIP Lang Son Industrial Park project and the Ho Son Industrial Cluster 1 project.

In his closing remarks, Deputy Minister of Foreign Affairs Ngo Le Van stated that “Meet Korea 2025” had concluded successfully with numerous highlights, serving as a large-scale interregional international connectivity conference.

He also noted that cultural similarities, political stability, and strong reforms in administrative procedures provide favorable conditions for South Korean investors to choose Vietnam as a place to work, establish long-term partnerships, and jointly create new breakthroughs in development.