Vietnam, South Korea explore fiscal and infrastructure cooperation

Officials from Vietnam and South Korea convened to discuss mutual interests in fiscal administration and infrastructure development, with talks focusing on how both nations can strengthen their partnership in key economic areas.

During discussions with Busan's Vice Mayor for Administrative Affairs Kim Kyung Duk, Vietnamese counterparts outlined mechanisms for decentralizing local budgets and coordinating central government support, seeking to learn from Seoul's approach to municipal finance management.

The two sides also examined strategies for attracting private investment in technical infrastructure, recognizing the growing importance of private-sector participation in regional connectivity projects. Both nations discussed governance frameworks and financial mechanisms needed to support cross-border and inter-regional development initiatives.

The exchange reflects broader efforts by Vietnam and South Korea to deepen economic ties beyond traditional trade relationships. Recent developments have included South Korean investment commitments in Vietnamese cities and collaborative efforts on advanced technologies, signaling expanding cooperation across multiple sectors.

Official details on specific joint initiatives or timelines for implementing discussed recommendations were not immediately available.