VN needs US$18-20 billion for infrastructure development annually

Deputy Prime Minister Vuong Dinh Hue (L) and Chairman of the Korean Financial Investment Association  Kwon Yong Won in Seoul, the Republic of Korea on June 20, 2019. Photo: VGP

Hue, who is on a working visit to the Northeast Asian country, made the call at his working sessions with the Korean Financial Investment Association (KOFIA) and the Federation of Korean Industries (FKI) in Seoul city on Thursday.

He took the occasions to highlight solid foundations for stronger investment ties between the two countries, including steady GDP growth, stable and improving business environment, and rising foreign investment inflows in Viet Nam.

The National Assembly is expected to pass a draft revised Law on Securities by the end of this year to create more favorable conditions for foreign investors in Viet Nam, said Deputy PM Hue.

The RoK is is the biggest official development assistance provider and the 3^rd largest trade partner of Viet Nam, Hue said.

He also said during his visit, the two sides will organize the first-ever Deputy PM level economic dialogue in a bid to further elevate the bilateral trade and investment cooperation.

Chairman of the KOFIA Kwon Yong Won said this is the first time a high-level leader of Viet Nam visited and had working session with the association.

Kwon said the two countries have enjoyed good cooperation, especially Korean investors’ investment in Viet Nam rose by 13 times compared to that in 2015 and 16 financial business members of the association are investing in securities market and infrastructure development in Viet Nam.

Meanwhile, Chang-Soo Huh, Chairman of the KFI affirmed Viet Nam is one of the top partners in the RoK’s New Southern Policy./.

By Hoang Ha