Vietnam’s Party chief, S.Korean premier attend Vietnam–S.Korea Economic Forum

The forum, which focused on cooperation for the development of production chains in the new era, was jointly organized by Vietnam’s Ministry of Finance, South Korea’s Ministry of Trade, Industry and Energy, the Korea Chamber of Commerce and Industry, and the Embassy of Vietnam in South Korea, according to the Vietnam News Agency.

Besides Vietnamese Party leader Lam and South Korean Prime Minister Kim, the event gathered senior officials from both countries and over 400 leading businesses with more than 500 delegates from Vietnam and South Korea.

Beyond serving as a platform for business networking, the forum played a vital role in promoting economic, trade, and investment cooperation between the two countries, thereby deepening the Vietnam–South Korea comprehensive strategic partnership.

In his address, Party General Secretary Lam shared insights on Vietnam’s socio-economic situation in 2024 and the first half of 2025.

He emphasized Vietnam’s ongoing efforts to improve institutional frameworks, enhance the investment climate, and address key bottlenecks to accelerate economic restructuring and promote a new growth model based on science, technology, innovation, and the cultural values of the Vietnamese people.

Vietnam is attracting investment in a selective and in-depth manner, prioritizing high technology, clean, modern, high value-added projects that contribute to global production and supply chains.

The Party leader urged ministries, sectors, and localities to increase dialogue and resolve challenges for South Korean investors, continue administrative reforms, apply digital technologies, and reduce compliance and input costs.

He also called for the preparation of infrastructure, human resources, electricity, and clean land, proposing the establishment of an inter-agency task force to support investors.

He emphasized that science, technology, and innovation must be the pillars of cooperation, especially in enterprise development and socio-economic growth.

He expressed hope that Korean conglomerates would continue to expand their investments in Vietnam, particularly in clean energy, heavy industry, electronics, automaking, shipbuilding, chemicals, steel, strategic materials, semiconductors, AI, blockchain, healthcare, education, and green, smart urban development.

Prime Minister Kim affirmed South Korea’s readiness to work with Vietnam in diversifying supply chains and ensuring energy security.

He emphasized that the cooperation agreements signed during Party General Secretary Lam’s visit would form a solid foundation for expanded collaboration in the future.

He expressed confidence that Vietnam would achieve its goal of becoming a high-income country given its young workforce, attractive investment environment, extensive trade networks, and forward-looking development strategy.

South Korea, drawing on its 'Miracle on the Han River' experience, hopes to be a reliable companion in helping Vietnam achieve its own 'Miracle on the Red River.'

The prime minister called for stronger support from both governments to facilitate business operations and encouraged enterprises from both sides to remain pioneers in economic cooperation.

During the forum, businesses from both countries discussed and proposed measures to strengthen cooperation in key areas including clean and green energy, high-tech industries, digital infrastructure, production chains, and value chain integration.

Party General Secretary Lam, his spouse Ngo Phuong Ly, and a high-ranking delegation of Vietnam arrived at Seongnam Air Base in Seoul on Sunday afternoon for the state visit to South Korea.

The trip is undertaken at the invitation of President of South Korea Lee Jae Myung and his spouse.

This represents the first state visit to the East Asian nation by Lam in his current role, and he is notably the first foreign guest officially hosted by President Lee since the latter took office in June.

South Korea is currently Vietnam's largest investor, second-largest provider of official development assistance, and third-biggest trading partner with two-way trade reaching US$81.5 billion in 2024, reflecting a 7.3-percent increase over the previous year.