RoK highly values Vietnam’s consumer goods market

Tuesday, September 26, 2023 - 6:18:22

RoK highly values Vietnam’s consumer goods market hinh anh 1

A Lotte Mart in HCM City. (Photo: hcmc.vn)

Seoul (VNA) – Businesses of the Republic of Korea should boost the export of consumer products to Vietnam to maintain the current export growth in this market, according to a report by the Korea International Trade Association (KITA) released on November 24.

The report stated that the Vietnamese Government’s policy on promoting domestic consumption may create opportunities for RoK businesses. It also predicted the spending rate of Vietnam in 2017 will increase 11.5 percent against this year.

According to the report, 2017 will witness a big change in Vietnam as local consumers’ demand for high quality products is expected to soar, while the RoK’s export of industrial materials and components to Vietnam will drop due to a decline in Vietnam’s exports.

Vietnam is currently the third largest importer of the RoK. A previous report of KITA showed that RoK exports to Vietnam hit 22.4 billion USD in 2015.-VNA

VNA

You should also see

President welcomes leader of National Assembly of People's Power of Cuba

President Vo Van Thuong has welcomed President of the National Assembly of People's Power of Cuba Esteban Lazo Hernandez’s visit to Vietnam to attend a ceremony marking the 50th anniversary of Cuban leader Fidel Castro’s trip to the liberated zone in Southern Vietnam.

Environment

Vietnam makes efforts to develop domestic carbon market

Business

Vietnamese, Brazilian firms asked to work together to raise trade to 10 billion USD

Politics

NA Chairman busy with meetings in Bulgaria

See more

Business

Roadshow promotes Vietnam – Australia trade, education cooperation

The Australian Trade and Investment Commission (Austrade) recently organised a roadshow in the central province of Khanh Hoa to unlock Vietnam – Australia cooperation opportunities in the fields of education and trade.

Business

Vietnamese firm eyes to make deeper inroads into Venezuela

The Venezuelan government is willing to create the most favourable conditions for Viglacera Corporation JSC of Vietnam to enter its market, considering this as a motivation to further strengthen the traditional friendship between the two countries, said Jorge Márquez, Minister of Office of the Presidency and Monitoring of Government Management of Venezuela.

Business

Nearly 50 Vietnamese companies join trade promotion event in India

Nearly 50 enterprises from Vietnam attended a trade promotion and business matching programme on September 22-23 as part of the Uttar Pradesh International Trade Show (UPITS), held for the first time by the administration of the Indian state of Uttar Pradesh.

Business

Enterprises expect easier access to credit

Enterprises expected access to banking credit to be made easier to quench their thirst for capital during the process of recovering production and business.

Sci-Tech

Semiconductors a future key industry of Vietnam

To maintain a high growth rate of exports, it was necessary to target new trends, including semiconductors, said experts.

Video

Vietnam, Cuba news agencies forge cooperation

Japan Crown Prince, Crown Princess visit world heritage sites in Quang Nam province

PM delivers speech at UN General Assembly’s General Debate

State President hosts Japanese Crown Prince and Crown Princess

Vice President welcomes Japanese Crown Prince and Crown Princess

You should also see

President welcomes leader of National Assembly of People's Power of Cuba

Vietnam makes efforts to develop domestic carbon market

Vietnamese, Brazilian firms asked to work together to raise trade to 10 billion USD

NA Chairman busy with meetings in Bulgaria

See more

Roadshow promotes Vietnam – Australia trade, education cooperation

Vietnamese firm eyes to make deeper inroads into Venezuela

Nearly 50 Vietnamese companies join trade promotion event in India

Enterprises expect easier access to credit

Semiconductors a future key industry of Vietnam