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Vietnam, RoK eye sustainable manufacturing value chains in phone industry

A seminar discussing policies on the phone components industry was recently held by the Department of Trade Promotion (Vietrade) under the Ministry of Industry and Trade and the Korea Trade-Investment Promotion Agency (KOTRA).
Vietnam, RoK eye sustainable manufacturing value chains in phone industry ảnh 1At the event (Photo: congthuong.vn)


Hanoi (VNA) – A seminardiscussing policies on the phone components industry was recently held by the Departmentof Trade Promotion (Vietrade) under the Ministry of Industry and Trade and theKorea Trade-Investment Promotion Agency (KOTRA).

Speaking at the event, Vietrade Director VuBa Phu said the event was held by the Korea Desk with the aim of providing avenue for exchanges between Vietnamese agencies and Vietnamese and RoKenterprises operating in the manufacturing of phone components and parts.

He expressed his hope that the seminarwould help with the formation of sustainable manufacturing value chains in thephone industry in Vietnam with the effective cooperation of RoK investors.

Participants highlighted Samsung Vietnam asa typical success story in the field. Samsung’s investment surged 26-fold to17.3 billion USD after 12 years operating in the Southeast Asian nation.

Vietnam is currently Samsung’s largestmanufacturing base abroad and the company is also the leading FDI investor inthe country.

Cooperation between Vietnam and the RoK hasmade great strides in various fields since the countries set up diplomatic tiesin 1992.

As of August 20, total registered capitalof RoK firms in Vietnam hit 70.4 billion USD, accounting for 18.5 percent offoreign direct investment in the country.

At present, about 8,900 RoK companies areinvesting in Vietnam, creating employment for more than 1 million people andcontributing about 33 percent of Vietnam’s total export values./.

VNA
#phone components industry #Department of Trade Promotion #Vietrade #Korea Trade-Investment Promotion Agency #KOTRA #Samsung Vietnam #vietnamplus #vietnam news agency Korea (RoK) Vietnam
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