Minister of Industry and Trade Tran Tuan Anh delivers a speech at a workshop between his ministry and Korean enterprises in Hanoi on November 26. (Photo: VNA)Hanoi (VNA) – The Ministry of Industry andTrade (MoIT) will make every endeavour to support Korean enterprises andattract high-quality investment from the Republic of Korea (RoK), Minister Tran TuanAnh told a workshop hosted by the MoIT in Hanoi on November 26.
The workshop was an opportunity for the MoIT and Koreanfirms to chalk out ways to foster investment and strengthen the multifacetedrelations between the two countries.
The MoIT has pioneered in providing assistance to entry ofKorean experts into Vietnam amid challenges posed by the COVID-19 pandemic, he said, addingthat so far, more than 10,000 Korean specialists have been sent to Vietnam thisyear to work for FDI projects. They are importantto ensure the normal operation of the FDI businesses, including those of the RoK, inVietnam, Anh said.
Vietnam has advantages and opportunities to create breakthroughs in thenear future as the country has basically brought the pandemic under control andgained increasing confidence from not only the domestic business community butalso foreign investors and partners, he noted.
The minister expected that Korean investors can take advantage ofopportunities in Vietnam, soon recover production and boost growths in thecoming time.
The Vietnamese government and the MoIT persist in supportingand facilitating domestic and foreign investors, particularly those from theRoK, to further expand investment and business in Vietnam, the minister said.
The MoIT is willing to listen to ideas and opinions from Korean investors andbusinesses and will work harder to improve the local business climate, he added.
Speaking at the event, Korean Ambassador to Vietnam Park NohWan highlighted Vietnam as an open economy which has developed steadily andbecome member of many free trade agreements. These are good factors for Koreanfirms to stay confident about their investment and business in the Southeast Asian country, he said.
As the COVID-19 pandemic is causing disruption to globalsupply chains, enterprises from both nations need to exchange frequently andcoordinate closely to further boost trade and investment, the diplomat said.
Currently, the RoK is Vietnam’s third largest trade partner,after China and the US, with bilateral trade reaching nearly 67 billion USD in2019. It is also the fourth largest export market and second import market ofVietnam. The RoK mainly imports agricultural and aquatic products, processedfood, textiles and garments, footwear, timber products, and electronic products fromVietnam.
The East Asian country is Vietnam’s biggest foreign investor withmore than 9,000 FDI enterprises based in Vietnam and accumulative investment hitting about 70.4billion USD as of October 2020, accounting for 18.5 percent of Vietnam’s totalFDI./.
Speaking at the event, Korean Ambassador to Vietnam Park NohWan highlighted Vietnam as an open economy which has developed steadily andbecome member of many free trade agreements. These are good factors for Koreanfirms to stay confident about their investment and business in the Southeast Asian country, he said.
As the COVID-19 pandemic is causing disruption to globalsupply chains, enterprises from both nations need to exchange frequently andcoordinate closely to further boost trade and investment, the diplomat said.
Currently, the RoK is Vietnam’s third largest trade partner,after China and the US, with bilateral trade reaching nearly 67 billion USD in2019. It is also the fourth largest export market and second import market ofVietnam. The RoK mainly imports agricultural and aquatic products, processedfood, textiles and garments, footwear, timber products, and electronic products fromVietnam.
The East Asian country is Vietnam’s biggest foreign investor withmore than 9,000 FDI enterprises based in Vietnam and accumulative investment hitting about 70.4billion USD as of October 2020, accounting for 18.5 percent of Vietnam’s totalFDI./.
VNA
