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Vietnamese firms to have more chances to increase exports to the RoK: official

Vietnamese businesses, especially those operating in technology and electronics, have many favourable conditions and big opportunities to export their products to the Republic of Korea (RoK), according to Pham Viet Tuan, First Secretary in charge of investment at the Vietnamese Embassy in the RoK.
Vietnamese firms to have more chances to increase exports to the RoK: official ảnh 1Illustrative image (Photo: VNA)
Seoul (VNA) – Vietnamese businesses, especially those operating intechnology and electronics, have many favourable conditions and bigopportunities to export their products to the Republic of Korea (RoK), accordingto Pham Viet Tuan, First Secretary in charge of investment at the VietnameseEmbassy in the RoK.

The two countries have set a target of raising two-way tradeto 100 billion USD by 2023 and 150 billion USD by 2030.

To that end, the RoK has affirmed its efforts to boostbilateral cooperation, address the trade imbalance by increasing the import ofVietnamese products, encourage investment and technology transfer, andintensify collaboration in science and technology.

Tuan said that 30 years after the establishment of bilateraldiplomatic ties, Vietnam is currently one of the RoK’s important partners, andthe two countries are looking towards the upgrade of the ties to acomprehensive strategic partnership, which will open up more opportunities forVietnamese enterprises.

However, if Vietnam wishes to raise its position in aworld power in information and communications, it is important for the countryto improve its human resources, especially as the RoK is short of theworkforce, he noted.

Trade value between Vietnam and the RoK recorded a nearly160-fold rise, from 500 million USD in 1992 to 80.7 billion USD last year.

The RoK has for years been Vietnam’s largest investor. Bythe end of this year, the country’s investment in Vietnam is expected to hit 90billion USD, accounting for one-third of the capital it pours in SoutheastAsia./.
VNA
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