Vietnam, RoK boost cooperation in mechanics, electronics

Seoul (VNA) – Information on Vietnam’s advantages, preferential policies and orientations in the mechanical and electronic field was updated at a workshop in Seoul, the Republic of Korea (RoK), on June 8.

The event was jointly organised by the Vietnam Trade Promotion Agency (VIETRADE) under the Ministry of Industry and Trade, the Vietnamese Embassy in the RoK, and the Korea Trade-Investment Promotion Agency (KOTRA), aiming to boost the two countries’ cooperation in this field.

KOTRA Vice President Sun Seok-gi expressed his belief that participants at the workshop shared measures to handle difficulties facing the two sides’ enterprises in order to strengthen bilateral relations in trade and investment.

VIETRADE Director Bui Huy Son said that to bring into full play trade and investment cooperation potential, Vietnamese agencies have focused on intensifying cooperation in strong and priority fields, especially mechanics and electronics.

He told participants that in 2014, the Vietnamese Prime Minister decided to choose mechanics and electronics a priority field in the national industrial development strategy until 2025 with a vision to 2035.

Most recently, the PM continued issuing a programme to develop the supporting industry until 2025, which includes the mechanical and electronic field.

According to Tran Kim Oanh, Director of VIETRADE’s Industry and Trade Development and Investment Promotion Centre, since 2014, the RoK has been Vietnam’s biggest investors in both project number and capital. Of the total capital, 70 percent has been poured into the processing and manufacturing industry.

She highlighted Vietnam’s advantages, including stable socio-economic situation, young population, major consumption market, and numerous export opportunities.

RoK businesses when investing in Vietnam will benefit from these advantages, she said.-VNA