Deputy PM pledges facilitation of RoK corporation’s operation in Vietnam

Saturday, 11/05/2024 11:45
Deputy Prime Minister Le Minh Khai received in Hanoi on May 10 Lee Sang-Woon, Vice Chairman and COO of Hyosung Corporation – the third biggest investor from Republic of Korea (RoK) in Vietnam after Samsung and LG, pledging to facilitate the conglomerate’s operation in the country.

Appreciating the cooperative relationship between the two nations’ governments, Deputy Prime Minister Le Minh Khai highlighted the crucial role of Korean investors in Vietnam, especially global-scale conglomerates like Hyosung.

Deputy Prime Minister Le Minh Khai (R) and Lee Sang-Woon, Vice Chairman and COO of Hyosung Corporation, at their meeting in Hanoi on May 10. (Photo: VNA)

The Deputy PM acknowledged the corporation’s effective investment and business activities in various sectors such as industry, construction, trade, IT, as well as its corporate social responsibility efforts. Since 2007, the group has channeled more than 4 billion USD into Vietnam.

For his part, Lee said nearly all of Hyosung's factories in the RoK have been transferred to Vietnam. Most recently, the conglomerate has invested in a carbon fiber plant worth 730 million USD in the southern province of Ba Ria-Vung Tau. The facility is currently the most modern of its kind in the world.

Hyosung wishes to build a made-in-Vietnam ATM manufacturing plant and a large data centre in Ho Chi Minh City's high-tech zone, he went on.

Welcoming Hyosung's expansion plans in industries involving raw materials, power systems, data centres, and biofuels, among others, the Deputy PM requested the company prioritise environmental protection, promote partnerships with Vietnamese enterprises, utilise materials that Vietnam can produce, and ensure the welfare of workers.

Taking into account Hyosung's interest in joining the modernisation of Vietnam's banking system, Khai suggested the conglomerate collaborate with the State Bank and the Ministry of Finance to discuss specific details./.

CPV (Source: VNA)