A Vietnam-RoK business seminar took place on December 22, on the occasion of Minister of Industry and Trade Nguyen Hong Dien’s working visit to the RoK.

The event was held by the Vietnamese Ministry of Industry and Trade, in collaboration with the Republic of Korea (RoK)’s Ministry of Trade, Industry and Energy and the Korea Trade-Investment Promotion Agency (KOTRA), 

Speaking at the seminar, Dien said that since the establishment of their diplomatic ties in 1992, Vietnam and the RoK have enjoyed the best-ever development stage of their relations. The RoK is Vietnam’s third biggest trade partner and largest investor with over 9.000 projects.

He affirmed that Korean groups and businesses have made important contributions to boosting export growth and trade surplus of Vietnam in the past years.

He called on them to pour more capital to fully tap Vietnam’s 100-million-strong market and gradually access the ASEAN market of 600 million as well as other markets which have signed free trade agreements (FTAs) with Vietnam.

Chang Sang Hyun from KOTRA said that Vietnam is one of the important destinations of Korean investors.

An increase of Korean investment in Vietnam amidst the complicated developments of the COVID-19 pandemic has shown their trust in the country’s business and investment environment, he stressed.

At the event, RoK enterprises proposed the Vietnamese Government and Ministry of Industry and Trade help untie difficulties in entry and ground clearance, and create more favourable conditions for them, especially in the fields of energy, chemicals and textile and dyeing.

They expressed their confidence in Vietnam’s potential and development, hoping to expand their investment in the time to come.

Meanwhile, Vietnamese firms showed their hope to strengthen cooperation with Korean partners in clean energy, recycling materials and chemicals, and get engaged in their production chains in the field of support industries.

Concluding the seminar, Minister Dien affirmed that the Vietnamese Government and the Ministry of Industry and Trade have consistently supported and created favourable conditions for domestic and foreign investors, including those from the RoK, to continue expanding their investment and business activities in Vietnam as well as supporting Vietnamese firms to deepen cooperation with Korean partners./.