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Vietnam – RoK business summit opens in Quang Nam

The Vietnam – Republic of Korea (RoK) business summit took place in the central province of Quang  Nam on November 9, discussing policies and orientations for bilateral cooperation in startups, innovation, and technology development.

Speaking at the event, Deputy Prime Minister Trinh Dinh Dung stated it is an opportunity for the two nations to exchange visions and chances for collaboration in the new period to deepen their strategic partnership.

Vietnam – RoK economic ties have grown robustly, recording a total of 8.190 investment projects worth 65.7 billion USD.

In 2018, the Rok was the third largest trade partner of Vietnam, just after China and the EU. Vietnam exported 18.2 billion USD to while importing 47.5 billion USD worth of products from the RoK.

Vietnam has launched the ‘Made in Vietnam 4.0’ programme, Dung said calling for RoK firms to come to and make fourth-industrial-revolution-related products in the country.

Vietnam wants to strengthen extensive, comprehensive and effective with the RoK based on mutual sharing and support to connect their strengths and potential, the official affirmed, adding that Vietnam encourage investment cooperation in manufacturing, IT, energy, processing and support industries, high-tech agriculture, infrastructure, and smart city development, among others.

He recommended Vietnamese and RoK business communities exchange new ideas and creative solutions to assist their joint startup and collaboration projects.

The Vietnamese Government always creates best conditions possible for RoK investors to operate in Vietnam, particularly in the central region, Dung said.

President of Vietnam Chamber of Commerce and Industry Vu Tien Loc said Vietnam, with stable political environment and good economic growth rate between 6.5 to 7 percent in years, is an attractive destination for foreign investors, including those from the RoK.

He noted with an aim of raising trade between the two countries to 100 billion USD in 2020, Vietnam wants the RoK to facilitate its agro-forestry-fishery products, apparel, and woodwork and rubber products in accessing the local market.

Vietnam is willing to take in major goods from the RoK, he added./