The delegation, led by Mr. Jung Goo Chang, DeputyMayor of the City, includes 15 large enterprises of Changwon city specializing in the manufacture and trading of medical equipment, heavy machinery equipment components, client support, defense industry manufacture, home appliances, consumer goods, food, and telephone accessories.
Enterprises discussing cooperation information
Within the framework of the trip, on August 30 afternoon, in Hanoi, the Vietnam Chamber of Commerce and Industry (VCCI) and the Changwon city authorities held a seminar to introduce new Korean technology and a Vietnam-Korea business meeting.
Over the past years, business cooperation and investment between Vietnam and RoK has been constantly growing. RoK is a major strategic partner of Vietnam and currently, is the leading investor in Vietnam. By the end of the first quarter of 2017, Vietnam attracted total 5,932 of RoK’s FDI projects and a series of large investment projects with registered capital of over $US 54 billion.
On trade cooperation, RoK is Vietnam's second largest trading partner with two-way trade turnover in 2016 of $US 43.4 billion and in the first seven months of 2017 of more than $US 34 billion.
Vietnam and RoK also signed several bilateral and regional agreements such as the Double Taxation Avoidance Agreement, Investment Guarantee Agreement, ASEAN-Korea Free Trade Agreement (FTA), and Korea-Vietnam FTA (KVFTA).
The two countries also cooperate in other fields such as science and technology, tourism, culture, education, health care and non-refundable aid.
According to VCCI leaders, the seminar is an opportunity for Rok and Vietnam’s businesses to explore more trade cooperation and investment opportunities. The event also provided useful information for Vietnamese enterprises and helped them have more choices in cooperating with Korean partners.
Translated by Thuy Duong