Receiving its Chairman Lee Ho Woong in Hanoi on January 10, Phoc said that in 2024, Vietnam attracted over 38 billion USD in foreign direct investment (FDI), achieved a GDP growth rate of 7.09%, and posted a total import-export turnover exceeding 800 billion USD, along with a stable exchange rate. These factors create a very favourable environment for foreign corporations to invest in Vietnam.

Deputy PM Ho Duc Phoc receives Charmvit Group Chairman Lee Ho Woong in Hanoi on January 10. (Photo: VNA)

Emphasising Vietnam's interest in attracting high-quality and highly effective projects that are mutually beneficial, the Deputy PM expressed his delight at Charmvit's effective projects in Vietnam, such as the Grand Plaza 5-star hotel and the Phoenix Golf Course in Hoa Binh province. These projects have positively contributed to Vietnam’s socio-economic development, he noted.

Welcoming the group’s investment expansion and relocation to Vietnam, Phoc affirmed that the Vietnamese government is always ready to create conditions for Korean businesses in general and Charmvit Group in particular to invest and operate sustainably in the country.

He also suggested that the Korean firm continue to closely coordinate with relevant Vietnamese agencies in implementing the committed projects.

On this occasion, Phoc, Lee, and representatives from Hanoi, the Ministry of Finance, the Ministry of Natural Resources and Environment, and the Ministry of Planning and Investment, discussed a project to develop a multi-functional entertainment complex and horse racing track in Hanoi’s Soc Son district.

Lee told the host about Charmvit Group's projects in Vietnam and mentioned some obstacles regarding the project in Soc Son. The 420 million USD project got in-principle approved from the Prime Minister on September 12, 2019. Its investors are the Hanoi Tourism Corporation and the RoK’s Global Consultant Network Co., Ltd.