Marking the 30th anniversary of diplomatic relations between Viet Nam and the Republic of Korea (RoK), the Provincial People’s Committee of Thanh Hoa, the Ministry of Foreign Affairs and the Korean Embassy in Viet Nam jointly organised the event “Meet Korea 2022” in Sam Son City on March 25.

Speaking at the event, Deputy Minister of Foreign Affairs Nguyen Trung Son underlined that the diplomatic relations between the two countries are at a peak thanks to bilateral efforts.

The RoK remains the largest investor in Viet Nam, with 9,223 valid projects, equivalent to total registered capital of US$74.7 billion, by late 2021.

The country is also the second-largest partner in terms of official development assistance (ODA) and third-largest commercial partner with bilateral trade of $78 billion in 2021.

As room for further cooperation is still ample, the deputy minister believed that bilateral commerce would soar to new heights in the near future.

"I believe that bilateral trade will rise to $100 billion next year and to $150 billion in 2030," he said.

Secretary of Provincial Party Committee Do Trong Hung underlined the RoK as one of the most important partners of the province in various fields.

So far, Thanh Hoa is the investment destination of 37 Korean projects and joint ventures with total registered capital of $1.6 billion, accounting for 11 per cent of total foreign direct investment (FDI) in the province.

Of which, Nghi Son II Thermal Power Project, an RoK-Japanese joint venture, is the largest with an RoK capital contribution of $1.39 billion.

"I'm quite certain that Meet Korea 2022 will usher in a new area of cooperation between the two strategic partners Viet Nam and Korea, and between Thanh Hoa Province, northern provinces, northern central provinces and their Korean counterparts," the secretary said.

Park Noh-wan, Korean ambassador to Viet Nam, highlighted this year as a milestone marking 30 years of the amicable and cooperative relationship.

He said two countries are going to co-organise many other events to commemorate the 30th anniversary and to talk about further cooperation in the next 30 years.

So far, the Korean Government has granted financial support of more than $135 million to the province through five ODA projects in health, education, transport and urban development.

Jubok Lee, deputy general director of Nghi Son II Electric Co. Ltd, said that the construction of the thermal power project had faced many difficulties during the pandemic.

Fortunately, Thanh Hoa Province has come to the company's assistance with numerous favourable policies to ensure construction moves at the right pace.

Notably, the authorities temporarily moved ships at channel ports to different places so that the company's colliers can access the ports more easily.

Thanks to such favourable policies, the project is entering the final construction phase and is expected to come into operation in July 2022.

A trade show displaying Vietnamese and Korean products also took place in Sam Son City from March 25 to 26, aiming to boost commercial links between the two countries.

To date, about 88 local firms in Thanh Hoa are exporting to Korea, with total export revenues reaching over $408 million in 2021. — VNS