The RoK currently ranks first in FDI in Vietnam, with 10,128 projects and a total registered capital of over 92 billion USD; second in official development assistance (ODA), labour, and tourism; and third in trade cooperation
The General Department of Vietnam Customs and the Republic of Korea (RoK) Customs Service have signed a mutual recognition agreement (MRA) on authorised economic operator (AEO).
The Ministry of Industry and Trade (MoIT) will continue to focus on and tie into solutions to develop foreign exports, in which Northeast Asia and its prime markets, is one of the focal points.
Vietnam’s agro-forestry-fishery exports to the Republic of Korea (RoK) have surged thanks to the bilateral Free Trade Agreement (VKFTA), topping 2 billion USD annually during 2016 - 2023, and the Northeast Asian country is forecast to remain an attractive market in the coming time.
Prime Minister Pham Minh Chinh affirmed that Vietnam always views the RoK as an important and long-term strategic partner during his meeting with Speaker of the Republic of Korea (RoK)’s National Assembly (NA) Kim Jin-pyo in Hanoi on January 17.
Since the Republic of Korea (RoK) started to invest in Vietnam in the 1990s, especially since the two countries set up their bilateral diplomatic relations in 2009, the country has become an important investor of Vietnam with capital rising year after year.
Minister of Foreign Affairs Bui Thanh Son and his counterpart from the Republic of Korea (RoK) Park Jin held talks in Hanoi on October 18, agreeing to take many measures for further developing their countries’ cooperation.
Prime Minister Pham Minh Chinh has called on the Republic of Korea (RoK)’s enterprises to increase investment in Vietnam and boost connectivity with local firms so that Vietnam can soon become a hub in regional and global value chains.
Over the past 25 years, the economic ties between Vietnam and the Republic of Korea have flourished, but the trade imbalance between the two countries has reached an alarming level.
The enforcement of the Vietnam-Korea Free Trade Agreement (VKFTA) has been bringing new opportunities to businesses of both nations, but the number of Vietnamese firms capitalising on the deal is lower than expected.
Many goods imported from the Republic of Korea (RoK) into Vietnam will be exempted from import taxes in 2018, due to the Vietnam-Korea Free Trade Agreement (VKFTA).
The Ministry of Finance on December 21 issued a list of preferential tariffs for goods from the Republic of Korea (RoK), a step in implementing the Vietnam–RoK Free Trade Agreement (VKFTA).
The Vietnam-Republic of Korea (RoK) free trade agreement (VKFTA) is billed as a significant legal framework for enterprises from Vietnam and the RoK to expedite investment and cooperation.
