Vietnam willing to offer optimal conditions for foreign investors

Minister and Chairman of the Government Office Mai Tien Dung hosts Lee Kang-woo, general director of Lotte Properties Thu Thiem in Vietnam (Photo: VGP)

The Minister made the affirmation during separate receptions held on March 3 in Hanoi for Lee Kang-woo, general director of Lotte Properties Thu Thiem in Vietnam, and Horst Geicke, chairman and CEO of Ho Tram Sanctuary Company.

During the reception held for Lee Kang-woo, Minister Dung congratulated the Korean Government on its recent success in containing the spread of the novel coronavirus (COVID-19) and on producing COVID-19 vaccines, materials, and goods. In addition, there was plenty of praise for the RoK’s support in helping the nation combat the pandemic.

Mutual co-operation has continued to enjoy steady growth across multiple fields in recent times, Minister Dung said, adding that the Vietnamese Government greatly appreciates the RoK’s efforts to maintain its position as the largest foreign investor in the country. At present, the nation is still striving to meet the dual goals of combating the COVID-19 pandemic and boosting socio-economic development.

Expressing great appreciation for Lotte Group's successful investment in the country over recent years, Minister Dung affirmed that the Vietnamese Government is ready to offer support and provide the best possible conditions for both domestic and foreign investors. Indeed, this includes Korean investors such as Lotte Group who are looking to either expand their operations or make a presence in Vietnam.

Upon describing the Lotte Thu Thiem project as an important highlight for Ho Chi Minh City, the Vietnamese Government official expressed hope that Kang-woo would help to speed up construction progress to ensure that products are on the market immediately after the COVID-19 pandemic is brought under control.

As part of the occasion, Kang-woo also sent a letter of thanks from the CEO of Lotte Group to Prime Minister Vietnam Nguyen Xuan Phuc and Minister Dung.

Furthermore, Kang-woo praised Vietnamese pandemic containment efforts, while stating that the RoK is also carrying out the task of fighting the pandemic and ensuring socio-economic development moving forward. Indeed, firms from the RoK, including Lotte Group, will continue to pay attention to investment in the Vietnamese market, he added.

Minister and Chairman of the Government Office Mai Tien Dung presents souvenirs to Horst Geicke, chairman and CEO of Ho Tram Sanctuary Company.

During the meeting held with Geicke, Minister Dung emphasized that the Government remains ready to support the company’s plans to expand investment and business activities locally, believing that Geicke will help to develop the Ho Tram project into a famous tourist and resort destination.

Sharing the difficulties facing the company due to the negative impact of the COVID-19 pandemic, Minister Dung stated that amid the global pandemic, tourism represents one of the most affected industries, therefore it needs to time to recover.

In response, Geicke told his host that despite suffering difficulties in terms of project implementation, the company has been striving to devise a plan to upgrade cuisine areas, villas, and hotels at Ho Tram resort. This will allow tourism products and services to be available immediately once the pandemic is fully contained globally.

Minister Dung said that the country has established a working group to promote foreign investment co-operation led by Deputy Prime Minister Pham Binh Minh. This will allow companies and investors with specific recommendations regarding policies on investment attraction to directly contact the Government Office and the working group in order report to the PM and the Government.