At the talks, the two sides expressed their joy at the achievements in the two countries' relations after 25 years of diplomatic relations. The two countries have become one of the most important partners of each other, South Korea is the first largest partner in investment, second in ODA, tourism in Vietnam, fast growing bilateral trade in 2017 reached $ 61.8 billion and South Korea became Vietnam's second largest trading partner.

 

Commenting on Vietnam's economic development over the past time, Kim Dong Yeon said that favorable factors such as stable macroeconomic fundamentals, high GDP growth rate have always been high for some time. along with the determination to renovate, perfect the market economy mechanism and deep integration of the Government of Vietnam will create a solid foundation to attract indirect investment capital from Korea into Vietnam.

 

At the meeting, Minister Dinh Tien Dung appreciated the support of the Government as well as the Ministry of Strategy and Finance of the Republic of Korea in the process of finalizing the institution of financial and economic policy of Vietnam. At the same time, the Minister highly appreciated the projects funded by Korea has brought practical results, many projects have important significance to contribute to socio-economic development of Vietnam. Minister Dinh Tien Dung affirmed that the Ministry of Finance of Vietnam continues efforts to promote the Vietnam-Korea strategic partnership in depth, in essence, to enhance the effectiveness of cooperation in general and financial cooperation in particular.

 

On bilateral cooperation in the areas of tax administration, customs management and financial market supervision, the two sides affirmed their determination to accelerate the implementation of cooperation activities such as the early conclusion of the Protocol negotiations. To amend and supplement some contents of the double taxation avoidance agreement between Vietnam and Korea and implement trade facilitation measures to support Korean and Vietnamese enterprises doing business, increasing Strengthen financial market surveillance capacity through the sharing of experience, knowledge and technology in the financial sector.

 

On behalf of the Ministry of Finance of Vietnam, Minister Dinh Tien Dung affirmed to continue maintaining the dialogue mechanism with Korean enterprises to answer questions about tax policies and customs and consider this an important forum, bridge between enterprises and management agencies, bring effective and positive impact to the domestic and foreign enterprises.

 

The two sides agreed to establish a regular and continuous mechanism in the financial sector to concretize the mechanism of periodical exchange, which was signed by Deputy Prime Minister Vuong Dinh Hue and Deputy Prime Minister Korea unifies on the occasion of the visit of the President of South Korea in March 2018. The periodic exchange mechanism in the financial sector will focus on business dialogues and expert exchange programs between the two countries in the area of ??financial technology in the coming time.

 

On the sidelines of the Investment Promotion Conference in Korea, Minister Dinh Tien Dung had a meeting with Mr. chue-Chong-ku (Choi Jongku), Chairman of Financial Services Commission of Korea. The two sides agreed to establish a cooperation program under which the Korea Financial Services Commission will provide a consultancy program for Vietnam and provide practical training to Vietnamese officials on financial technology, Assist the Ministry of Finance in finalizing the legal framework for the management and supervision of the financial market, especially the securities market and the insurance market.

 

Also within the framework of the activities in Korea, Minister Dinh Tien Dung has received senior leaders from a number of financial corporations in Korea. At the meetings, Minister Dinh Tien Dung affirmed that the Government of Vietnam always encourages and welcomes Korean enterprises to invest in business, expand the market and commit to continue t