Forum Boosts Vietnam-RoK Investment and Trade Collaboration

On May 29, the Ministry of Foreign Affairs of Vietnam, alongside the Vietnam-Korea Business and Investment Association (VKBIA), the People's Committees of Can Tho city, Bac Lieu province, Kon Tum province and Thua Thien Hue province, gathered in Gangnam (Seoul, RoK) to host the "Forum of local cooperation, investment promotion and trade connection between Vietnam and the RoK 2023."

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Forum Strengthens Investment and Trade Cooperation Between Vietnam and RoK
Overview of the forum.

The forum attracted more than 100 delegates who are leaders of large investment funds, corporations, and large, medium, and small enterprises (SMEs) in many fields such as finance and banking, green energy, green industry, construction and development of cities, Industry 4.0, and high-tech agriculture.

During the promotion, a series of activities, such as seminars, exhibitions and cultural activities, will be held to introduce the culture, people, economy, and potential for investment and cooperation of Vietnam to Korean partners.”

Trinh Thi Mai Phuong, Deputy Director of the Department of Foreign Affairs at the Ministry of Foreign Affairs, recently declared that the Ministry will be the focal point for organizing a local promotion of Vietnam in the Republic of Korea (RoK) from May 29th to June 1st, 2023. This promotion will involve a range of activities, including seminars, exhibitions, and cultural events, to introduce the culture, people, economy, and potential for investment and cooperation between Vietnam and its Korean partners.

The event aims to promote the friendship and cooperation between Vietnamese localities, local governments, and businesses of the Republic of Korea (RoK). The Forum of Local Cooperation, Investment Promotion and Trade Connection between Vietnam and the RoK 2023 is one of the strong highlights and important activities this time in the RoK.

At the forum, Tran Hai Linh, head of the Vietnam-Korea Business and Investment Association (VKBIA), stated that Vietnam and the Republic of Korea (RoK) have become each other’s leading and most important partners in various areas.

Cooperation between the two countries in economy, trade, and investment has acted as a fundamental pillar and a driving force in the process of strengthening the relationship between Vietnam and the Republic of Korea (RoK). This has been the main impetus for VKBIA to preside over the organization of the forum of local cooperation, investment promotion, and trade connection between the two nations in 2023.

The forum will be an important platform for the two countries to further deepen their economic, trade, and investment cooperation. It will provide a chance for Vietnamese and Korean businesses to exchange information, explore cooperation opportunities, and strengthen their connections. It will also facilitate the development of a comprehensive and mutually beneficial relationship between Vietnam and the RoK.

The forum will be an essential event for both countries to further expand and deepen their economic, trade, and investment cooperation. It will provide a platform for Vietnamese and Korean businesses to exchange information, explore partnership opportunities, and strengthen their ties. Furthermore, it will help to promote a comprehensive and mutually beneficial relationship between Vietnam and the Republic of Korea.

The Forum aims to strengthen economic cooperation and development and promote investment between Vietnam and the Republic of Korea (RoK). Local cooperation between the two countries is also an important activity that can be further facilitated by this forum. By engaging in open dialogue and collaboration, the Forum seeks to foster meaningful connections that will result in mutually beneficial outcomes for both countries.

At the forum, leaders of Can Tho City, Bac Lieu Province, Kon Tum Province, and Thua Thien Hue Province gave speeches introducing the potential, strengths, and orientations for the socio-economic development of their respective localities.

At the forum, leaders of Can Tho City, Bac Lieu Province, Kon Tum Province, and Thua Thien Hue Province gave speeches introducing the potential, strengths, and orientations for the socio-economic development of their respective localities.

They also discussed the investment situation of Korean enterprises in localities, promoting investment and people-to-people diplomacy between localities and the RoK.

Vietnamese localities are hoping that through the Vietnam – Korea Business and Investment Alliance (VKBIA), they can foster stronger connections with similar and suitable localities in the Republic of Korea (RoK). This would help to promote the relationship between Can Tho, Bac Lieu, Kon Tum, and Thua Thien Hue, and the RoK. By working together, these localities can benefit from increased economic growth and development.

At the forum, two Korean corporations, SoluM and Hancom, specializing in green industry, Industry 4.0, smart cities, and high-tech education and training were introduced to localities.

They also expressed their desire to further promote cooperation with Vietnam, through the mutual companionship of VKBIA.

Forum Strengthens Investment and Trade Cooperation Between Vietnam and RoK
Signing cooperation agreement between Thua Thien Hue province and VKBIA.

On this momentous occasion, representatives from four localities in Can Tho, Bac Lieu, Kon Tum and Thua Thien Hue officially inked a cooperation agreement with the Vietnam-Korea Business and Investment Association (VKBIA). The agreement contains various important contents that will fortify investment and local cooperation. This collaboration is sure to bring immense benefits to all involved parties.

At the forum, John Park, senior advisor of One World Impact Partners (OWI), discussed how the organization is striving to provide investment orientation and support in areas where localities have strengths. OWI partners and members of VKBIA also shared their thoughts on the matter.

They focused on the fields of green energy, green industry, smart city development based on Industry 4.0, high-tech agriculture, and the development of high-quality human resources for Vietnam.

Leaders of provinces and cities, the Ministry of Foreign Affairs, and Vietnam-Korea Business Initiative Association (VKBIA) have agreed to continue to maintain close information exchange and coordination between the parties, so that cooperation between Vietnamese and Korean localities can be further strengthened.

Rosie Nguyen