The event was jointly organized by the Ministry of Planning and Investment, the Vietnamese Embassy in the RoK and the Federation of Korean Industries (FKI) on the occasion of the Vietnamese top legislator's official visit to the RoK.

Addressing the event, Chairman of FKI Huh Chang-soo highlighted that Vietnam is the fourth largest trading partner of the RoK, while the RoK is the third largest trading partner of, and the largest foreign investor in Vietnam with about 9,000 Korean firrms operating in the Southeast Asian nation.

National Assembly (N.A.) Chairman Vuong Dinh Hue speaks at the forum.

As a strategic partner of Vietnam, the RoK supports Vietnam's vision and development potential, he stated.

Huh stressed that with the presence of the Vietnamese N.A. Chairman, the business forum will become a lever for stronger economic cooperation between the two countries and a stepping stone for realizing “The Miracle on the Red River” in the 21st century.

Meanwhile, the speaker of the RoK N.A. said the relationship between Vietnam and the RoK is developing fruitfully, noting that exchanges in economy, trade, people and culture are developing at a level that is rarely seen in international relationships.

N.A. Chairman Hue’s visit is an opportunity to lift the bilateral relations to a new height, he said, expressing his belief that the relations will be deepened in a sustainable manner in the future.

For his part, N.A. Chairman Hue highlighted the flourishing relations between Vietnam and the RoK, revealing that the two countries are considering upgrading their strategic cooperative partnership to a higher level to commensurate with the trust and cooperation potential between the two sides.

He affirmed that the Vietnamese N.A. supports upgrading the relationship between the two countries to a comprehensive strategic partnership, striving to lift two-way trade to USD 100 billion by 2023, and USD 150 billion by 2030.

At the forum, the top legislators of the two countries witnessed the signing of cooperation agreements between Vietnamese localities with Korean businesses.

On the occasion, officials from Thai Nguyen, Ha Nam, Thai Binh and Hai Duong provinces of Vietnam handed over 15 investment certificates and cooperation agreements to Korean firms.

Source: VNA