President Nguyen Xuan Phuc (R) and Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho (Photo: Thong Nhat/ VNA)

President Phuc and Republic of Korean Deputy Prime Minister and Minister of Economy and Finance attended the Vietnam-Korea Business Forum on Tuesday morning in Seoul.

The President suggested that Korean businesses invest in Vietnam in digital economic transformation, green growth, scientific and technological development, and innovation for deeper integration and more effective participation in the global supply chain.

President Nguyen Xuan Phuc speaks at the Vietnam-Korea Business Forum. (Photo: Thong Nhat/VNA)

“Vietnam and the Republic of Korea have a lot of potentials and opportunities to develop strongly in line with the movement of the global industrial revolution 4.0 in terms of digital economy transformation, green growth with renewable energy, new energy, big data, artificial intelligence, biotechnology, and information technology. All cooperation is for the sake of stronger and more profound cohesion between the two countries for the benefit of the two peoples, for peace, stability, prosperity, cooperation and development in the region and in the world,” said President Phuc.

President Nguyen Xuan Phuc and RoK Deputy Prime Minister Choo Kyung-ho witness the exchange of cooperation documents between the two countries' businesses. (Photo: Thong Nhat/VNA)

Speaking at the Forum, Deputy Prime Minister Choo said that the two countries need to strengthen cooperation in supply chains to ensure economic security and expand cooperation in trade.

To support private cooperation between the two countries, the Government of the Republic of Korea will strengthen dialogue with Vietnam under the Government mechanism and enhance capacity in trade finance, and renew tax regulations and cooperation platforms like green economy, digital economy, new industries, new renewable energy, and environment, he said.