Minister Thang said that Vietnam-South Korea relations are currently at their most fruitful stage since the establishment of diplomatic ties between the two countries. Based on the solid momentum of over 30 years of strong development, the comprehensive and growing cooperation in all areas has significantly contributed to the socioeconomic development of both Vietnam and South Korea, especially in investment.

“Vietnam highly welcomes the investment expansion plans of South Korean enterprises in Vietnam, including Daewoo E&C Group,” the minister emphasised.

Discussing the group's investment plans, welcomed Daewoo E&C's continued expansion and reinvestment in Vietnam in areas such as infrastructure, real estate, energy, smart city development, and the construction of industrial zones exclusively for South Korean businesses. He especially emphasised cooperation in building nuclear power plants and high-speed railways in Vietnam.

The minister particularly praised Daewoo E&C's application of smart city models in the Tay Ho Tay urban centre in Hanoi, and encouraged the company to replicate this model in other Daewoo E&C projects.

"We also appreciate the group's intention to reinvest in Hanoi through the Thuong Cat New Urban Areat. This is considered a high-potential project that can attract a new wave of investment from major Korean corporations and directly contribute to creating high-quality jobs for local people," the minister said.

Vietnam is aiming for economic growth of 8.3-8.5 per cent in 2025 and double-digit growth thereafter. To achieve these ambitious development goals, the Party and state have identified a four-pillar strategy, including breakthroughs in science, technology, innovation, and national digital transformation; international integration; reforming lawmaking and law enforcement to meet the country's development needs; and private sector development.

Within this context, Vietnam is prioritising the development of green and sustainable energy (especially nuclear power) and transportation infrastructure (especially urban railways and high-speed railways) as key tasks to improve quality of life and enhance national competitiveness.

“The Ministry of Finance (MoF) highly appreciates Daewoo E&C's interest in participating in the construction of nuclear power plants and high-speed rail lines in Vietnam,” he said, and encouraged the group to promptly implement its investment plans and continue researching and developing smart urban networks in Vietnam.

Source: Vietnam Investment Review