At the meeting, Minister Nguyen Van Thang and Deputy Prime Minister and Minister Koo Yun Cheol affirmed and expressed their joy that the relationship between Vietnam and the Republic of Korea is increasingly developing well and comprehensively, and wished to make joint efforts to promote cooperation, contributing to promoting the relationship between the two countries in general and the two Ministries of Finance in particular to become increasingly deep and more effective..

Minister of Finance Nguyen Van Thang and Deputy Prime Minister, Minister of Economy and Finance
 of Korea Koo Yun Cheol took a souvenir photo at the working session

Minister Nguyen Van Thang congratulated Mr. Koo Yun Cheol, who was newly appointed as Deputy Prime Minister and Minister of Economy and Finance of the Republic of Korea in July. Just two weeks after taking office, he led the Korean negotiating delegation to reach a positive tariff agreement with the United States.

Minister Nguyen Van Thang informed Deputy Prime Minister and Minister of Economy and Finance of the Republic of Korea Koo Yun Cheol about Vietnam's positive macroeconomic growth in recent times, as well as the Vietnamese Government's profound and strong reforms towards streamlining the state apparatus to improve effectiveness, efficiency and save public resources, opening up new growth promotion space for localities to enhance competitiveness and attract investment, keeping up with the trend of international integration.

Minister Nguyen Van Thang emphasized that Korea is a major partner of Vietnam in trade, economy, investment and is the second largest ODA provider to Vietnam in Asia. Korean ODA projects are assessed to be effective and contribute to the socio-economic development of Vietnam. The Minister acknowledged and appreciated the financial support that the Korean Government has provided to Vietnam in the past through the capital of the Economic Development Cooperation Fund and the Economic Promotion Fund implemented by the Export-Import Bank of Korea, with a committed capital of 4 billion USD for the 2024-2030 period.

Minister Nguyen Van Thang expressed his hope that the two sides would continue to strengthen cooperation, promote professional exchanges in state management of economics and finance, especially in loan financing and aid in the context of Vietnam’s great need for capital for investment in important large-scale projects with spillover effects, and wishes to cooperate with high-tech countries such as Korea; cooperate in the fields of securities, cryptocurrencies; cooperate in investment to create favorable conditions for businesses of the two countries. The Minister hopes to receive close coordination from the Ministry of Economy and Finance of the Republic of Korea so that the use of loans from the Korean Government for projects can be highly effective, and also hopes that the Korean Government will continue to give priority to ODA loans on highly preferential terms to Vietnam.

Minister of Finance Nguyen Van Thang speaking at the working session

On this occasion, Minister Nguyen Van Thang also expressed his joy that, within the framework of the working trip, under the witness of General Secretary To Lam and President of the Republic of Korea Lee Jae Myung, the State Securities Commission of Vietnam and the Korean Financial Supervisory Service signed a Memorandum of Understanding to strengthen cooperation in the field of securities and securities markets, contributing to deepening financial cooperation between the two countries, promoting capital market connectivity and expanding opportunities for investors of the two countries.

The Minister hoped that in the future, the two sides would continue to strengthen cooperation, promote the exchange of experience and expertise in state management of sustainable and transparent financial market development; expressed his hope that the Korean side would support the Vietnam Securities Commission in upgrading the information technology infrastructure in the Vietnamese stock market, as well as receive the cooperation of the Korean Financial Supervisory Service through the forms of technical assistance, human resource training, and development of capital market technology infrastructure.

On the Korean side, Deputy Prime Minister and Minister Koo Yun Cheol highly appreciated the efforts of the Vietnamese Government in creating favorable conditions for Korean enterprises and banks to cooperate and invest in Vietnam; at the same time, he believed that large infrastructure development investment projects are very important to the socio-economic development of Vietnam and was ready to participate in large infrastructure development projects with high spillover effects that Vietnam is preparing to implement. Mr. Koo Yun Cheol is confident that under the leadership of the Party and State of Vietnam and the efforts in streamlining the apparatus, the Vietnamese economy will continue to develop strongly in the coming time.

At the end of the working session, Minister Nguyen Van Thang and Deputy Prime Minister and Minister of Economy and Finance of the Republic of Korea Koo Yun Cheol agreed that the two sides will maintain bilateral exchanges and dialogues between the two Ministries of Finance, work together to achieve the highest cooperation efficiency, and expect to continue to meet and work in October 2025 when Korea is the host country for the APEC Finance Ministers' Meeting 2025.