The dialogue between the Vietnamese Prime Minister’s Advisory Council for Administrative Procedure Reform and the South Korean business community held on July 17 would contribute to enhancing bilateral relations in the post-Covid-19 era, according to Park Noh Wan, South Korean ambassador to Vietnam.

Minister-Chairman of the Government Office Mai Tien Dung (R) and South Korean Ambassador to Vietnam Park Noh Wan (L). Photo: VGP.

In a meeting with Minister-Chairman of the Government Office and Chairman of the Council Mai Tien Dung prior to the dialogue, Park suggested that Vietnam and South Korea should soon establish a mechanism towards the restoration of cooperation between the two countries after the Covid-19 pandemic.

Business organizations such as the Korean Business Association in Vietnam, the Korean Chamber of Business (KorCham), the Korea Trade – Investment Promotion Agency (KOTRA) and the Korea International Cooperation  Agency (KOICA), representatives of Samsung, LG, and Lotte, among others, also attended the meeting.

Overview of the dialouge. Photo: VGP.

Ambassador Park proposed that the dialogue should  become an annual event, in turn serving as a motivation for South Korean enterprises to do business in the country. Regarding this suggestion, Minister Dung said the event would be held twice per year to support the business community.

Dung said the objective of the dialogue is to address concerns of South Korean businesses, especially as the bilateral relations are growing strongly.

South Korea is currently Vietnam’s largest investor and the fifth largest for this year with registered capital of US$544 million in the first half of this year, or 6.5% of the total. Korean firms have created jobs for 700,000 locals in many provinces and cities and contributed 30% of the country’s exports.

This year, Vietnam targets a GDP growth in range of 3 – 4% and inflation rate below 4%, Dung said.

The dialogue’s major agenda would focus on addressing concerns of the South Korean enterprises; measures and solutions of the Vietnamese government to support the business community; and cooperation plan between Vietnam and South Korea in the post-Covid-19 pandemic.