RoK, Vietnam bolster co-operation across key sectors

VOV.VN - A Vietnam-Republic of Korea (RoK) business seminar was held on December 22 by the Vietnamese Ministry of Industry and Trade, in collaboration with the RoK’s Ministry of Trade, Industry and Energy and the Korea Trade-Investment Promotion Agency (KOTRA).

The event was held to mark the occasion of Minister of Industry and Trade Nguyen Hong Dien’s working visit to the RoK.

As part of his speech at the seminar, Minister Dien said that the country and the RoK are now enjoying the most flourishing stage of their relations since the establishment of diplomatic ties back in 1992. Indeed, the East Asian country makes up the third largest Vietnamese trade partner and the largest investor with over 9,000 projects.

The Minister went on to hail numerous Korean groups and businesses for their significant contributions to boosting export growth and trade surplus to the nation over recent years. He also called on them to pour additional capital in order to fully tap in the 100-million-strong Vietnamese market and gradually access the ASEAN market of 600 million, as well as other markets which have signed free trade agreements (FTAs) with the country.

According to Chang Sang Hyun of KOTRA, the nation represents an important destination for Korean investors. In line with this, the RoK’s growing investment in the Vietnamese market amidst complicated developments caused by the COVID-19 pandemic show their trust in the local business and investment environment, he added.

During the course of the event, various RoK enterprises suggested the Vietnamese Government and Ministry of Industry and Trade help to ease the difficulties faced in entry and ground clearance. This should be done whilst creating more favourable conditions for them, especially in the fields of energy and chemicals, as well as textiles and dyeing.

They used the platform to express their confidence in future Vietnamese development, with a strong desire to expand their investment in the near future.

Furthermore, Vietnamese businesses showed a willingness to augment co-operation with Korean partners in clean energy, recycling materials and chemicals, as well as engaging in production chains in the field of support industries.

Upon concluding the seminar, Minister Dien encouraged both nations' businesses to exchange and learn more about the possibility of co-operation moving forward.

He affirmed that the Vietnamese Government and the Ministry of Industry and Trade has consistently supported and offered favourable conditions for both domestic and foreign investors. This includes those from the RoK to continue expanding their investment and business activities in the Vietnamese market, as well as helping local enterprises to ramp up co-operation with Korean partners.

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