(MPI) - Deputy Minister Vu Dai Thang had a meeting with the Executive Director of South Korean Economic Development Cooperation Fund (EDCF), Export-Import Bank of Korea (KEXIM) Kim Tea Soo on October 16, 2019, at the headquarters of the Ministry of Planning and Investment.
Director Kim Tea Soo and Deputy Minister Vu Dai Thang at the meeting. Photo: MPI
At the meeting, Deputy Minister Vu Dai Thang highly appreciated the cooperation between Vietnam and South Korea in recent years. Vietnam’s outcomes and achievements have brought practical results, contributing to the socio-economic development of Vietnam, thanks to EDCF’s active support and especially the visit by Deputy Prime Ministers of the two countries at the first Vietnam-South Korea Economic Dialogue. Prime Minister Nguyen Xuan Phuc plans to make an official visit to South Korea in November 2019 to attend the Special Summit between South Korea and ASEAN held in Bussan on the 30th anniversary of the establishment of South Korea-ASEAN diplomatic relations.
Deputy Minister Vu Dai Thang said that the Ministry of Planning and Investment had activities and plans to complete procedures to integrate EDCF projects into the medium-term public investment plan. Vietnam in general and the Ministry of Planning and Investment in particular hope to quickly overcome and have solutions to complete the signing of credit agreements with South Korea and a number of other countries in the coming time.
Vietnam is building a 10-year Socio-Economic Development Strategy for the 2021-2030 period and a 5-year Socio-Economic Development Plan for the 2021-2025 period, aiming at the goal of sustainable rapid development and completion of its industrialization and modernization goal to basically become a modernized and industrialized country by 2030. Therefore, Vietnam wishes to cooperate with foreign partners, including private and public sectors.
For the private sector, South Korean businesses are now making active contributions to Vietnam. In regards to cooperation with the South Korean Government, Vietnam aspires to continue receiving loans and grants through EDCF in the coming time, and discussing priority areas that Vietnam is interested in such as large-scale infrastructure, roads, railways, climate change, green and clean energy, etc.
At the meeting, Director Kim Tea Soo thanked Deputy Minister Vu Dai Thang for the reception and agreed with the Deputy Minister's comments. Director Kim Tea Soo affirmed that the Ministry of Planning and Investment was a very important partner of EDCF and hoped that the Ministry would continue to work closely with relevant ministries and agencies to quickly sign the loan agreement and implement projects. This is an opportunity to enhance bilateral cooperation in the field of development investment. Director Kim Tea Soo asserted that EDCF would always play the role of the ODA provider on behalf of the South Korean Government for projects that the Ministry of Planning and Investment was interested in and needed support.
In terms of projects currently having problems with loan procedures, Deputy Minister Vu Dai Thang confirmed that the Ministry of Planning and Investment would actively work with the relevant agencies, accelerating the negotiation process to sign a loan agreement between the two Governments. At the same time, he expressed his desire that many Korean investors and businesses would be interested in investing in Vietnam with the support from EDCF and Director Kim Tea Soo.
At the meeting, the two sides pledged to continue working closely to promote projects that were ongoing and would be implemented in the near future, and seek cooperation opportunities for new programs and projects, thereby contributing to strengthening the Vietnam-Korea cooperation relationship./.
Ministry of Planning and Investment