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INVESTMENTOPPORTUNITIES

Vietnam vows favourable conditions for the South Korean investors

Updated at Saturday, 24 Mar 2018, 10:01
The Hanoitimes - Vietnam will create favourable conditions for enterprises from the South Korea to invest in Vietnam, Minister of Labour, War Invalids and Social Affairs Dao Ngoc Dung told Kyung Shik Sohn, Chairman of the Korea Employers Federation, in Hanoi on March 23.
Hundreds of South Korean companies and groups are operating in Vietnam, Dung said, noting that he supports the South Korean groups in employing Vietnamese workers, who are hard-working.
 
Vietnam vows favourable conditions for the South Korean investors
Vietnam vows favourable conditions for the South Korean investors
Dung said South Korean President Moon Jae-in’s State visit to Vietnam from March 22-24 has helped promote economic cooperation between the two nations, and numerous memoranda of understanding were signed to strengthen the strategic partnership between the two countries in the future.

According to the minister, Vietnam is improving its legal system and revising several laws, including the law on foreign employees working in Vietnam. The Vietnamese Government and the Ministry of Labour, War Invalids and Social Affairs (MoLISA) will focus on increasing negotiations between employers and workers to minimise State involvement in business operations.

The MoLISA will coordinate with the South Korean Ministry of Employment and Labour to sign agreements on social insurance and social protection towards providing better care for workers, Dung added.

For his part, Kyung affirmed that South Korean enterprises want to operate in a transparent manner, in accordance with the regulations of Vietnam and in the spirit of ensuring mutual benefits.

He pledged to make sure that South Korean employers will ensure fair treatment between Vietnamese and Korean employees to achieve the highest efficiency in business operations.
Tuan Minh
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