Deputy Prime Minister Trinh Dinh Dung at the event. (Photo :VNA) Hanoi (VNA) – The Vietnamese Government encourages enterprises fromthe Republic of Korea (RoK) to further investments in high-tech industries likesupport industry, IT, energy and high-quality agriculture.
Deputy Prime Minister Trinh Dinh Dung made the appeal at the first-everMaekyung Korea-Vietnam Forum held in Hanoi on December 6 as part of activitiesto celebrate the 25th anniversary of Vietnam-RoK diplomatic ties.
The event was organised by Seoul-based Maekyung Media Group, the Korea CulturalIndustry Forum and the Vietnam Chamber of Commerce and Industry (VCCI).
The Deputy PM stressed that the strategic partnership relations between the twocountries have seen impressive development in various fields, especially ineconomy, trade, investment and ODA cooperation. The RoK is currently thelargest FDI investor in Vietnam with more than 6,300 projects worth nearly 60billion USD.
He said both sides need to bolster collaboration to carry out the Vietnam-Koreafree trade agreement in an effective manner and increase two-way trade value to100 billion USD by 2020 as agreed by leaders of the two countries at the APEC2017 Economic Leaders’ Week. Bilateral trade was value at 56 billion USD in theJanuary-November period this year.
Dung highlighted that Vietnam wants to increase export of agro-forestry-fisheryproducts, electronics and spare parts to the RoK, while committing to providingan open, equal and favourable environment for foreign businesses, includingthose from the RoK.
According to Chairman of Maekyung Media Group Chang Dae-Whan, Vietnam hasbecome a key in the RoK’s new look-south strategy.
In the era of the fourth industrial revolution, the RoK wants to cooperate withVietnam to create the foundation for a society of information technology andArtificial Intelligence (AI), he added.
Meanwhile, VCCI President Vu Tien Loc noted that cooperation scale between thetwo sides is demonstrated in bilateral trade, with the RoK now being the secondlargest trade partner of Vietnam, following China.
To ensure sustainable economic ties, Loc suggested that RoK businesses increaseinvestment in support industry and share experience in developing large corporationsand brands with Vietnam.
Deputy Minister for Trade, Industry and Energy Lee In-ho, for his part,underlined that Vietnam has a crucial role in the RoK’s policy in SoutheastAsia. He affirmed that the RoK Government will support small-medium enterprisesin Vietnam in joining global value chains, provide training for Vietnameseengineers and back Vietnamese support industry and garments.
The moves gear towards development for mutual benefits, he said.
Trade between the two nations has increased 91-fold, from 500 million USD in1992 to 45.1 billion USD in 2016. The ASEAN-Korea FTA (2005), Vietnam’s joiningof the World Trade Organisation in 2007, and the Vietnam-Korea FTA (2015) havecontributed to expanding bilateral trade.
People-to-peopleties between the two countries have strengthened. Vietnam is an attractivedestination for Korean tourists. Some 1.5 million Korean visitors visitedVietnam in 2016. Vietnamese people, especially youngsters, are now quitefamiliar with Korean culture.-VNA
VNA
