Top legislator meets with leaders of RoK groups

Speaking to Chairman Hue, Cho Huyn-sang, Vice Chairman of Hyosung Group expressed his appreciation for efforts of Vietnamese workers who are working for the group under the "three on-site" working model in order to fulfill business plans of the firm.

The Hyosung Group's leader proposed issues related to the firm’s investment in Vietnam, including the refund of value-added tax for Hyosung Vina Chemicals, and suggested speeding up the early construction of Ring Road 3's Tan Van-Nhon Trach section, and approving the expansion of Tam Thang Industrial Park in the central province of Quang Nam.

NA Chairman Hue proposed the Hyosung Group to closely coordinate with the Ministry of Planning and Investment to accelerate the appraisal of the expanded Tam Thang Industrial Park project, and work with the Ministry of Finance and relevant agencies to proactively remove obstacles in tax refund.

Work on construction of the Ring Road No.3 project's Tan Van - Nhon Trach section is expected to start in the first quarter of next year, he said.

While meeting with CEO of GS Engineering & Construction Corp (GS E&C) Lim Byeong-yong, NA Chairman Hue spoke highly of corporation’s infrastructure development in Vietnam, affirming that Vietnam encourages foreign enterprises with technology, capacity and experience to invest in infrastructure projects, especially strategic infrastructure for transport, large cities, healthcare, energy, and digital infrastructure.

Vietnam has issued a list of 157 national projects calling for foreign investment in the 2021-2025 period in various fields, including transport infrastructure, industrial and economic zone facilities, information technology infrastructure, education and health, he said, adding that Vietnam pledges to create favourable conditions for GS E&C.

The top legislator said the Vietnamese NA is focusing on perfecting the legal system to create the most favourable conditions for businesses, while strengthening its supervision to ensure the effective implementation of policies and laws.

Meeting with General Director of Kyobo Life Insurance Co., Ltd Pyun Jung-bum, NA Chairman Hue praised the firm’s plan to invest in Vietnam, saying that Vietnam has huge potential for the life insurance sector and that building and developing a safe, transparent, sustainable and efficient insurance market, especially towards digital transformation, is one of Vietnam's priorities.

As one of the three largest life insurance companies in the RoK that has a strategy to expand business in Southeast Asia, Kyobo always pays special attention to the Vietnamese market, Jung-bum said.

The firm wishes to explore investment opportunities in the healthcare business and start-ups in order to contribute to Vietnam's digital transformation process, he added.

Receiving Suh Kyung-bae, Chairman and CEO of Amorepacific Corporation, which is operating in manufacturing cosmetics and health care products, Hue said Vietnam welcomes and supports the firm's plan to expand investment and business in the country in the near future.

He suggested the enterprise consider a plan to set up a production plant in Vietnam, saying that with its favourable and transparent business and investment environment, Vietnam becomes an attractive destination for foreign investors, even in the context of COVID-19 pandemic.

Kyung-bae said his firm intends to open a factory in Southeast Asia, in which it gives priority to choose Vietnam, or maybe cooperate with Vietnamese businesses in this field.

Meeting with Vice Chairman of Dongwon Group, Park In-ku, NA Chairman Hue highly appreciated the group's effective operation in Vietnam, saying that it actively contributed Vietnam’s development of processing and manufacturing industry.

For his part, Park proposed the Vietnamese top legislator to support the signing of an agreement on seafood production and processing between the two countries.

The group is planning to expand investment in other fields such as logistics, transportation, containers, cold storage, packaging materials, food, and is considering investing in Vietnamese businesses operating in related fields, he said.