Deputy Prime Minister Vương Đình Huệ meets with a delegation of the Korea Federation of Small and Medium Enterprises (KBIZ) Kim Ki-mun in Hà Nội on Thursday. — VNA/VNS Photo 

HÀ NỘI — Việt Nam encourages businesses from the Republic of Korea (RoK) to invest in specialised industrial parks targeting Korean firms and Vietnamese small- and medium-sized enterprises.

Deputy Prime Minister Vương Đình Huệ made the call while meeting Chairman of the Korea Federation of Small and Medium Enterprises (KBIZ) Kim Ki-mun in Hà Nội on Thursday.

He asked the KBIZ to work with Việt Nam’s Ministry of Planning and Investment and concerned localities to select locations and methods to implement such projects.

The Deputy PM also proposed the KBIZ help Việt Nam to improve skills for local workers.

He said the RoK is one of the biggest foreign investor in Việt Nam with total registered capital of US$65 billion. Two-way trade reached $64 billion in 2018, and is expected to hit $100 billion by 2020, he said.

The Vietnamese Government will continue to attract foreign investment and offer high incentive mechanisms for projects using modern and environmentally-friendly technology, and investors with good management skills and willing to connect with domestic businesses, he said.

Kim Ki-mun said the RoK’s Government is conducting the construction of RoK industrial parks in other countries based on its New Southern Policy.

Besides Myanmar, Việt Nam is a destination that Korean firms want to invest in building such industrial parks, he said.

Noting that some 47,000 Vietnamese workers are employed in the RoK, Kim said Vietnamese workers need to further improve their skills. He also asked the Vietnamese Government to relax rules on overtime working hours to meet the needs and interests of both employers and workers. — VNS