Hau Giang province works to attract Korean investment

"Strengthening cooperation with Korean SMEs" is the common goal of both parties at a recent meeting between Dr Doan Duy Khuong, Vice President of Vietnam Chamber of Commerce and Industry (VCCI) and Mr Park Sung-taek, Chairman of Korea Federation of Small and Medium Enterprises (KBIZ), at the VCCI Headquarters in Hanoi. The event aimed to promote cooperation between the two countries’ SMEs in the fields of trade, investment and supporting industries. Speaking at the meeting, Dr Doan Duy Khuong said that after 6 years upgrading relations to "cooperative strategic partnership", Vietnam-Korea relations have continued to expand and deepen. The two countries have become increasingly important partners in many areas, especially in economic cooperation. Vietnam-Korea Free Trade Agreement (FTA) is a milestone to open a new era in the development of economic cooperation between the two countries. About cooperation between SMEs of the two countries, VCCI Vice President Doan Duy Khuong stressed that investment by Korean SMEs in Vietnam has economic efficiency and contributes to the socio-economic development. As many as 95 percent of Vietnam’s businesses are SMEs. This will be a very good basis for cooperation of the two countries’ SMEs. Mr Park Sung-taek said that 90 percent of Korean enterprises are also SMEs and many Korean SMEs are operating in Vietnam. KBIZ also opened a representative office in Ho Chi Minh City to help Korean enterprises with investment information, expanding operations in Vietnam. Currently the Federation is trying to implement a number of cooperation projects with Vietnam enterprises in…... [read more]

Participating in the Forum were Deputy Minister of Science and Technology Trần Quốc Khánh; Professor, PhD Dương Ngọc Hải, VAST's Deputy Director; Mr. Lee Sang - Mok, Korea's Ex-Minister of Science and Communication; Mr. Shin Hyung-Ho, Director of Korea Science and Technology Institute and leaders, research experts and scholars in S&T field of Vietnam and Korea.Delivering a speech in the Forum, Deputy Minister Trần Quốc Khánh highly appreciated that Vietnam - Korea relations have achieved strong and thorough development steps in recent years. The Deputy Minister said that since the two countries established their strategic partnership relations in 2009, Vietnam and Korea signed the S&T cooperation agreement at Government level in 1995. On that basis, 7 meeting sessions of Vietnam - Korea Joint Committee on S&T have been organized, many tasks effectively carried out according to the Protocol since 2000. Through cooperation programs, Vietnamese scientists have had more opportunities to study and learn in Korea. S&T issues to which the two parties have paid attention have been solved, capacities of S&T staff improved. In addition to achieved results, cooperation potentials between the two countries are still very tremendous.Together with the statement, Mr. Lee Sang - Mok, Korea's Ex-Minister of Science and Communication said that relations between the two Governments have lasted more than the past 20 years. Specific contents of Vietnam - Korea S&T cooperation are mainly projects which have been carried out in the National University of Hanoi and Hanoi Science and Technology University mostly in fields of information…... [read more]

At present, South Korea is the second largest foreign investor in Vietnam (after Japan), after nearly 30 years since the establishment of diplomatic relations between the two countries. To deepen these traditional ties of friendship, recently, the Ministry of Planning and Investment of Vietnam, in collaboration with the South Korean Foreign Ministry and relevant agencies of the two countries, held the 13th session of the Vietnam - South Korea Intergovernmental Committee. According to Deputy Minister of Planning and Investment Nguyen Chi Hieu, Vietnam - Korea relations are developing well in all fields of culture, society, economy, trade and investment. South Korea is also playing an important role in the economic development of Vietnam. In addition, the goal of this session is for the two sides to review the situation of cooperation between the two countries from the results of the 12th Session in 2010, thus to set out orientations and tasks for the next year. In this direction, specific parts will be implemented to promote cooperation in fields such as development cooperation, labour, environment, land, energy, infrastructure, agriculture and rural development, finance - banking, and the two countries' participation in regional and international cooperation. As for trade cooperation, currently, South Korean is the fourth largest export market of Vietnam, with over US$6 billion in 2014 with main products being textiles, fisheries, oil and wood. It is also the second largest import market, with over US$20 billion in 2013 with products being mainly electronics, phones, fabrics, plastics, iron and steel, machinery,…... [read more]

Over the last 20 years since Vietnam and Korea established official diplomatic relations (12/1992-12/2012), the relations between the two countries have grown stronger and stronger. Korea is now the second largest investor in Vietnam and also a major partner, contributing greatly to the development of Vietnam. Vietnam and Korea have achieved very good development with practical special achievements in the field of investment and trade cooperation. December 12th 1992 marks the time Vietnam and Korea joint declaration on the establishment of the ambassadorial level diplomatic relations. This is an event of great significance, opening a new page in the history of relations between the two countries, expressing the will and aspirations of the people of the two countries towards the future, jointly building friendship and cooperation relationship for the common prosperity of the two peoples. Politically, in the 20 years of diplomatic relations, the two countries have twice upgraded relations to "comprehensive partnership in the 21st Century" in August 2001 and further upgraded to "strategic cooperative partnership" in October 2009, which means the assertation and determination of the leaders of the two countries to bring the friendship and cooperation between Vietnam and Korea to a new strategic level across all sectors. Since 1992, the two sides have exchanged more than 22 senior trade union leaders of the Party, State, Government and National Assembly. In addition, leaders of the two countries also frequently have bilateral meetings on the sidelines of international fora. Foreign relations and cooperation between ministries, branches and localities…... [read more]

This is affirmation by the South Korean Ambassador to Vietnam Ha Chan Ho, in a farewell meeting with Dr Vu Tien Loc, President of the Vietnam Chamber of Commerce and Industry (VCCI) an the occasion of the Ambassador completing his mission in Vietnam. At the meeting, Dr Vu Tien Loc appreciated the positive contributions of Ambassador Ha Chan Ho in promoting multi-faceted cooperation between Vietnam and Korea and wished Ambassador Ha Chan Ho - in any position - would also continue to make a positive contributions to promoting the friendship and cooperation between the two countries. VCCI President also affirmed that Vietnam always attaches importance to promoting cooperation with South Korea and wants the two sides to further strengthen the economic trade, investment and trade cooperation and boost two-way trade volume between the two countries to develop in the future. Ambassador Ha Chan Ho said that the results achieved in Vietnam - Korea cooperation recently have brought tangible benefits to the overall development of the two countries; he believed that Vietnam and Korea will continue to have new developments in the future. Ambassador Ha Chan Ho also said the Vietnamese government and VCCI had improvements to the investment environment, so in the future it will be more Korean businesses to invest in Vietnam. On this occasion, Dr Vu Tien Loc awarded a medal for South Korean Ambassador Ha Chan Ho. Vietnam and Korea officially established diplomatic relations on December 22, 1992. Currently, bilateral relations have been elevated to the strategic…... [read more]

The Vietnamese Ministry of Industry and Trade in collaboration with Ministry of Foreign Affairs and Trade of Korea and the Korean Chamber of Commerce and Industry recently organised a seminar "Vietnam - Korea FTA negotiation". The event aimed to bring opportunities and create market access strategies for enterprises of the two countries. At the seminar, Mr Choi Kyonglim, Deputy Minister of Foreign Affairs and Trade of Korea said that Vietnam-Korea relations have developed rapidly in all fields and to a new height which is the strategic partnership. The two countries have set a target to bring bilateral trade to US$20 billion by 2015. The seminar was an opportunity to make new direction of development cooperation in the future. In addition, Vietnamese businesses will also have the opportunity to exchange and process specific issues of cooperation in the fields which are strength of the two countries, as well as handle problems in investment. South Korea is the second largest investor in Vietnam with an investment capital of US$20.5 billion and more Korean companies are planning to invest in Vietnam. That the two countries sign the FTA will create opportunities for trade and investment of Korean businesses into Vietnam to be expanded in many fields besides energy, infrastructure, agriculture, fisheries or ODA. Deputy Minister of Industry and Trade, Nguyen Cam Tu said that the FTA will help Vietnamese enterprises better compete in this market, creating opportunities to promote exports to South Korea as well as expanding into other markets . Vietnam-Korea bilateral…... [read more]

(VOVworld) - A ceremony in Hanoi on Monday closed the trans-Vietnam cycling program for Agent Orange (AO) victims which has lasted for nearly one month. 90 participants including AO victims, singers, and athletes passed through 19 provinces and cities along 1,750 kilometers of National Highway 1A. The journey has shown the unyielding spirit of the AO victims and created an opportunity for Vietnamese and Korean participants to get closer. Addressing the closing ceremony, Deputy Prime Minister Nguyen Thien Nhan highlighted the program's political, social, cultural, and diplomatic significance in marking the 20th anniversary of Vietnam-Korea relations: The 1700-kilometer cycling trip is a big challenge to everyone, particularly the AO victims, who are determined to do their utmost to reach the final destination. The success of the trans-Vietnam cycling program for AO victims has proven the solidarity of Vietnamese and Korean people.... [read more]

The Korean international exchange fund cooperated with the Korean Embassy in Vietnam to organize a delegation including eight students from Korean - Vietnamese multicultural families to visit Vietnam between November 11-17. This was an activity marking the 20th anniversary of Vietnam - Korea diplomatic ties (1992-2012). During the week of visiting Vietnam, the students listened to lectures about the culture and history of Vietnam; visited historical sites and landscapes, experienced the Vietnamese culture; met students of the same age and explored the country where their fathers or mothers were born. On this occasion, they also had the chance to visit the Ministry of Foreign Affairs and learn about the history of Vietnam - Korea relations. The organizers hoped that they would become good-will ambassadors to promote Vietnam-Korea relations./.... [read more]

Famous South Korean opera singer Sumi Jo, a Grammy Award winner, will perform in the 'We are Friends' concert in Hanoi on October 27-28 to mark the 20th anniversary of Vietnam-Korea diplomatic relations. Jo was born Jo Su-gyeong in Seoul in South Korea. She was introduced to music early by her mother who was an amateur singer and pianist. In 1976, Jo entered the Sun Hwa Arts School from where she graduated in 1980 with diplomas in voice and piano. She continued her music studies at the Seoul National University from 1980-1983.In 1990, she made her European opera debut as Gilda in Verdi's Rigoletto at the Chicago Lyric Opera and then took this role to the Metropolitan Opera for next 10 years. She also performed in other operas such as Violetta, Donizetti, Dinorah (Meyerbeer).The opera singer has also played Jazz ballads and was a guest singer at the 2002 World Cup in Seoul and 2008 Olympic Games in Beijing.The Korean soprano will be onstage together with Vietnamese singer Duc Tuan and the Vietnam National Symphony Orchestra.In addition, a series of cultural activities such as 'Gangnam Style' dancing contest, hanbok show, Taekwondo competition, will be held in Ho Chi Minh City and Hanoi.The Korean film festival will take place at the Crescent Mall in District 7 in Ho Chi Minh City from October 18-24 and at Vincom Center in Hanoi from December 6-8.A food fair featuring Korean dishes is expected to attract Vietnamese gastronomes at Keangnam Landmark Garden in Hanoi on…... [read more]

For 20 years since the establishment of diplomatic relations, the Republic of Korea has been a very important economic partner of Vietnam. The Vietnam-Korea relationship has rapidly deepened in all fields such as political and economic, social and cultural, trade and investment, education and people-to-people exchanges. Regarding Vietnam- Korea relations over the past years, Vietnam Business Forum interviewed Mr Oh Jae-Hack, Korean Consul General in Ho Chi Minh City. Duy Khang reports. How do you evaluate the bilateral trade relationship between Korea and Vietnam, especially since the signing of the ASEAN-Korea Free Trade Agreement? Korea and Vietnam have comprehensively promoted their political, economic, social and cultural cooperation and mutual exchange programmes since 1992 when the two countries' diplomatic relationship was officially established. Among those various cooperative achievements, I evaluate that the two countries' two-way trade and investment have shown remarkably rapid increasing growth performance. The entry into force of the FTA between Korea and ASEAN in June 2007 is especially considered a tipping point to upgrade the bilateral economic cooperation between Korea and Vietnam. Since then, average annual exports from Korea to Vietnam increased 25 percent, and imports from Vietnam to Korea increased by 26.3 percent, during 2006 to 2010. I think that these high trade growth rates have resulted from the synergy effect of the ASEAN-Korea FTA and the accession of Vietnam to the WTO in January 2007. Accordingly, the volume of Korea's investment in Vietnam has increased and simultaneously, the two countries' two-way trade has also grown rapidly.…... [read more]

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