Vietnamese President Vo Van Thuong gave a reception in Ha Noi on Friday for Chairman of the Korea Enterprises Federation (KEF) and Chairman of CJ Group Sohn Kyung Shik, during which the host said Viet Nam supports CJ Group and Korean corporations and businesses to invest and expand their operations in the country in areas of their strength and Viet Nam's demand.
The President welcomed Sohn and the business delegation accompanying President of the Republic of Korea (RoK) Yoon Suk Yeol on their State visit to Viet Nam.
He emphasised that the focal point of the Viet Nam-RoK cooperation lied in the areas of economy, trade and investment. The significant presence of Korean enterprises in Viet Nam signified the strong potential of bilateral cooperation in these fields.
Sohn, for his part, hailed Viet Nam as a promising destination for Korean investors. He said there were over 200 corporations and businesses accompanying the RoK President on the visit to seek investment opportunities.
He added that in Viet Nam, CJ was investing in food processing, livestock farming, and logistics. It also planned to expand into production of veterinary drugs in the country. As a leading conglomerate in the cultural and entertainment industry in the RoK, CJ aimed to invest in the development of the cultural industry, including film production in Viet Nam. Additionally, CJ had plans to expand the production and processing of food products, making Viet Nam production hub for CJ's food exports to major markets in the region and worldwide.
President Thuong affirmed animal husbandry, food processing and logistics would be priority and promising areas in Viet Nam in the future.
Informing the guest about the outcomes of his successful talks with RoK President Yoon, Thuong said both sides reached consensus on bolstering bilateral trade and investment collaboration as these areas still hold great potential.
Agreeing with CJ's expansion of investment in culture and entertainment in Viet Nam, the President believed that Korean culture, especially music and film, shared similarities with that of Viet Nam.
Viet Nam always strives to improve investment environment and offer all possible support to Korean investors to do business in the country, he said.
He wished that Korean business leaders would further enhance trade promotion activities, leading to increased Korean investment in Viet Nam in the future. — VNS