Seminar on startups, business registration in RoK

At the event (Source: VNA)

Speaking at the event, member of the Vietnam Fatherland Front Central Committee and VIBAK Chairman Tran Hai Linh said the event aims to support VIBAK members in business and trade in the host country. 

He added that VIBAK will work with the Business Association of Overseas Vietnamese (BAOOV) to hold the first worldwide conference of Vietnamese entrepreneurs in the RoK, which aims to connect them to help contribute to Vietnam’s economic development. 

Vietnamese Ambassador to the RoK Nguyen Vu Tu expressed his belief that following the event, more opportunities will open up to Vietnamese firms in the RoK. 

Founded on July 7, 2018, VIBAK hopes to create an eco-system to facilitate mutual growth among members and set up new companies and restaurants. 

Vietnam – RoK ties are growing in a wide range of areas, with the two countries celebrating the 10th anniversary of their bilateral strategic cooperative partnership this year.

The RoK is the largest investor in Vietnam with more than 7,400 projects worth 62.5 billion USD as of late 2018, creating some 70,000 jobs and contributing nearly 30 percent of Vietnam’s total exports. 

The country is also the second largest trade partner of Vietnam, behind China, with two-way trade reaching 65.7 billion USD last year and expected to hit 100 billion USD by 2020. 

Nearly 3.5 million Koreans visited Vietnam last year while Vietnamese tourist arrivals to the nation neared 500,000, up 42.1 percent year on year.

People-to-people exchange has become widespread as well, with more than 150,000 citizens living and working in each other’s country.