Vietnam, RoK to Accelerate Cooperation on Key Minerals Supply Chain

Vietnam and the Republic of Korea (RoK) are set to accelerate cooperation on strengthening their key minerals supply chain, aiming to further deepen economic ties between the two nations. Both countries have agreed to expedite necessary procedures for the construction of the Vietnam-RoK Key Minerals Supply Chain Technology Center. This initiative is expected to foster enhanced cooperation in advanced technology sectors such as semiconductor manufacturing and nuclear power. The Vietnamese government has pledged to work with relevant agencies to address difficulties faced by Korean businesses investing in the country, underscoring Vietnam's emphasis on foreign direct investment, particularly in high-tech fields, as it pursues sustained economic growth. Under its one-party system, Vietnam's economic development is guided by the Party's strategic planning. The effort to strengthen the key minerals supply chain is viewed as a component of this national strategy, with Vietnam seeking to leverage its geopolitical advantages to elevate its position within global supply chains. Strengthening ties with South Korea is a crucial strategy for Vietnam to maintain its economic momentum and expand its influence internationally. Ensuring a stable supply of key minerals, which are foundational to advanced industries, is directly linked to national competitiveness. Information Source: VietnamPlus English