Vietnam – South Korea Business Summit opens in Quang Nam

Speaking at the event, Deputy Prime Minister Dung stated Vietnam-South Korea economic ties have grown robustly, recording a total of 8,190 investment projects worth 65.7 billion USD. In 2018, South Korea was the third largest trade partner of Vietnam, just after China and the EU. South Korean investors mainly focus on the fields of industry, electronics, energy and garment. 

Vietnam exported 18.2 billion USD to South Korea and imported 47.5 billion USD worth of products from South Korea. The Vietnamese Government continues to create the most favorable conditions for businesses from South Korea. At the event, the signing ceremony of investment cooperation between Vietnam and South Korea also took place under the witness of the leaders of two countries.

Mr. Dung affirmed Vietnam wants to strengthen extensive, comprehensive and effective relationship with South Korea based on mutual sharing and support to connect their strengths and potential. Vietnam encourages investment cooperation in manufacturing, IT, energy, processing and support industries, high-tech agriculture, infrastructure, and smart city development, among others.

Speaking at the ceremony, Chairman of the Business Association of South Korea- South Asia and South Korea-ASEAN said the relationship between Vietnam and South Korea has been upgraded to a new height. The trade turnover between two countries reached more than 68 billion USD last year. Vietnam is the fourth largest trading partner of South Korea. Within ASEAN, Vietnam has become a symbol of new opportunity and prospect.

Meanwhile, Chairman of the Special Committee for South Korea’ s New Southern Policy Joo Hyung-chul said South Korea currently has more than 7,000 companies in Vietnam, especially in Central Vietnam thanks to the regional advantages in land, labors, investment policies and infrastructure.

On this occasion, about 250 South Korean enterprises came to learn about investment opportunities in Vietnam.