Speaking at a meeting with representatives from Vietnam's Association of Foreign Invested Enterprises (VAFIE) and Techcross - a wastewater treatment company from the Republic of Korea (RoK), Quyen hailed the initiative to develop the public-private partnership between the city and the Korean company in projects that make use of the strengths of both sides.

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Lotte Group from the Republic of Korea aims to offer the Vietnamese an Asia’s number one shopping experience with the newly launched Lotte Mall Westlake Hanoi.

He hoped that with its capacity and strengths in treating wastewater and experience in carrying out projects in Ho Chi Minh City, Techcross will successfully cooperate with Hanoi.

For his part, Techcross General Director Kim Jung Chul said that his company, which used to be part of LG Group, is currently one of the three leading companies in the RoK in wastewater treatment with more than 100 projects globally.

He said that Vietnam, particularly the capital city of Hanoi, with a rapid economic growth rate needs to focus on environmental protection solutions.

Kim hoped that the Hanoi People's Committee will introduce feasible projects and support the company's operations if it has an opportunity to cooperate in the coming time.

According to a report by the Hanoi People's Committee, the RoK is currently the third largest foreign investor in the city with cumulative investment from 1986 to the end of 2022 reaching USD 7.92 billion. In the first nine months of this year, Hanoi city attracted about USD 73.5 million of foreign direct investment from the RoK.

The Korean government provided overseas development assistance (ODA) capital for Hanoi city to implement eight projects with a combined value of USD 17.96 million. Recently, typical large projects of Korean investors in Hanoi have come into operation such as a Research and Development Center of Samsung Group, and Lotte Mall West Lake project of Lotte Group.

Source: VNA