First Overseas Vietnamese Economic Forum opens in RoK

The event was co-hosted by the Business Association of Overseas Vietnamese (BAOOV) along with the Vietnam Business Association in the Republic of Korea (VIBAK).  

Addressing the opening ceremony, Nguyen Quoc Cuong, Deputy Foreign Minister and head of the State Committee for Overseas Vietnamese Affairs, highlighted the initiative as well as the strict co-ordination undertaken by the BAOOV and VIBAK to organise the event.

The forum focuses on a range of issues related to hi-tech agriculture, tourism, investment, trade, and services, and activities that could boost trade links such as future exhibitions and trade fairs.

He underlined the importance of the organisation of the event as the RoK enjoys advanced science and technology along with strong developed bilateral relations with Vietnam across multiple fields, particularly in economics and trade.

Deputy Foreign Minister Cuong spoke highly of the time-honoured relationship that has existed between the two countries over the past 20 years since they established diplomatic ties in 1992.

Since then,  Vietnam and RoK have seen vigorous development in economic co-operation. Currently, the RoK is one of Vietnam’s leading important economic partners of Vietnam, whilst Vietnam is also the fourth largest trade partner of the RoK.

The number of Vietnamese people who are living and working in the RoK has also increased significantly with more than 170,000 now living in the East Asian country. This demographic makes an active contribution to Vietnam’s socio-economic development and helps grow further friendship between the two countries.

Cuong briefed participants on Vietnam’s achievements after 30 years of carrying out the Doi Moi (Renewal) process. He noted that these accomplishments have come as a result of solidarity, unity, and concerted efforts of the whole nation, especially the valuable contributions made by the Vietnamese community living and working abroad.

Nguyen Vu Tu, Vietnamese ambassador to the RoK, acknowledged the great efforts made by the BAOOV leaders who stood alongside the VIBAK during the preparations leading up to the event.

The diplomat expressed his wish that the forum will be organised regularly to strengthen connectivity, build a network of Vietnamese entrepreneurs around the world, and facilitate the activities of entrepreneurs who can make a more effective contribution to the country’s economic development through international economic integration.

At the forum Vo Ngoc Thanh, Chairman of Gia Lai province’s People’s Committee, introduced the province’s potential and advantages of agricultural plants, fruit trees, and tourism, noting that the locality has eight industrial parks with incentive policies suitable for foreign investors and businesses.

He also called for greater investment from overseas Vietnamese businesses and Korean enterprises in the fields of hi-tech agriculture and agriculture product processing in the future.