Log in
Business

Vietnam seeks S.Korea support in Covid-19 vaccine tech transfer

Measures are mapped out to boost Vietnam-South Korea's strategic partnership as the two countries are scheduled to celebrate the 30th anniversary of diplomatic relations (1992-2022).

Vietnam seeks South Korea's support in accessing Covid-19 vaccines via the COVAX Facility and transferring technology for vaccine production.

 Prime Minister Pham Minh Chinh during the phone talk. Photo: Nhat Bac

Prime Minister Pham Minh Chinh made the request in a phone talk with his South Korean counterpart Kim Boo Kyum on July 22, in which both leaders have agreed to continue providing vaccination for foreigners in each country, including citizens from Vietnam and South Korea.

The two ministers also exchanged views on measures to strengthen Vietnam-South Korea's strategic partnership, especially as the two countries are scheduled to celebrate the 30th anniversary of diplomatic relations (1992-2022).

Both government leaders stressed the necessity to promote cooperation in all spheres, including specific measures to ensure a balanced trade relationship with a turnover of US$100 billion and working on joint projects in national defense. 

In this regard, South Korea would further open the market for Vietnam’s agricultural and seafood products, along with steps to scale up ODA support for Vietnam.

The Vietnamese Government is expected to further improve the business environment and create favorable conditions to attract investment capital from South Korea while supporting South Korean businesses in Vietnam that are being affected by the pandemic.

Prime Minister Chinh also called for the South Korean authorities to continue supporting the Vietnamese community living in the East Asian country during this difficult period.

Both Chinh and Kim agreed on boosting cooperation in multilateral forums. The two leaders shared the same view on keeping security and free navigation on the East Sea, in which any territorial dispute should be settled via peaceful means and international law, including the 1982 UN Convention on the Law of the Sea (UNCLOS), the full implementation of the Declaration on the Conduct of Parties in the East Sea (DOC) and the soon conclusion of the negotiation process for the Code of Conduct in the East Sea (COC).

Bilateral trade turnover in the first five months of the year rose by 15.5% year-on-year to $24.9 billion, of which Vietnam exports goods worth $8.9 billion to South Korea, or an increase of 17.1%, and imports of $20.9 billion, up 19.2%.

South Korea is currently one of Vietnam’s largest investors with a combined registered capital of nearly $72 billion in over 9,000 projects.

Reactions:
Share:
Trending
Most Viewed
Related news
Vietnam urges tighter control on export input materials

Vietnam urges tighter control on export input materials

Tighter control over the sourcing of inputs would help Vietnamese exporters respond proactively to changes in trade policy while maintaining stable production.

Vietnam can still thrive despite global turmoil: ADB

Vietnam can still thrive despite global turmoil: ADB

For Vietnam, this is both a challenge and an opportunity to accelerate domestic reforms, expand its global partnerships, and reinforce its competitive edge in a more complex world.

FTA Index facilitates Vietnam's 8% GDP target in 2025: Prime Minister

FTA Index facilitates Vietnam's 8% GDP target in 2025: Prime Minister

The FTA Index aims to provide transparent, objective data for central and local authorities to steer and monitor integration efforts

Q1 sees foreign investors posting $1 billion in net sales

Q1 sees foreign investors posting $1 billion in net sales

Similar outflows are seen across the region with Vietnam's foreign investor outflows remain moderate.

SSC launches Vietnam Governance Manual 2025

SSC launches Vietnam Governance Manual 2025

Vietnam targets 100% online processing of business-related procedures

Vietnam targets 100% online processing of business-related procedures

By 2026, corporate compliance costs must be halved compared to 2024, achieved through a 50% reduction in processing times.

Vietnam aims to create one million new businesses by 2030

Vietnam aims to create one million new businesses by 2030

Ministries and local governments are expected to cut at least 30% of processing times, compliance costs, and unnecessary business conditions this year.

Hanoi advances energy efficiency for businesses

Hanoi advances energy efficiency for businesses

Hanoi authorities, in collaboration with relevant agencies, are providing technical support to businesses in adopting advanced energy-saving technologies and developing energy efficiency indices.