Investment by Korean firms in Vietnam has also increased significantly, rising to US$55.8 billion as of September, making it the largest foreign investor in Vietnam, he added.On the occasion of the APEC 2017 Summit held in Da Nang and on the occasion of the 25th anniversary of diplomatic ties between Vietnam and the Republic of Korea, the Korean Ministry of Trade, Industry and Energy (MOTIE) and the Korea Trade-Investment Promotion Agency (KOTRA) co-organised the Vietnam-Korea Business Partnership Forum, hoping the event would create opportunities for businesses of the two countries to co-operate in trade, technology, supporting industries, mergers and acquisitions (M&A), intellectual property rights and social responsibility, he said.Jaehong also said there were many Korean businesses interested in M&A deals in Vietnam. He hopes that the two countries can co-operate well in M&A activities, through which the two sides can collaborate in technology transfer and joint … [Read more...] about VN-RoK business forum aims to boost trade, investment
Korea trade investment promotion agency
VN-Korea business forum aims to boost trade, investment
HÀ NỘI — A quarter-century of diplomatic relations between Việt Nam and South Korea has yielded impressive progress, especially in investment and trade, said Kim Jaehong, Chairman of the Korea Trade-Investment Promotion Agency (KOTRA) at the Việt Nam-Korea Business Partnership Forum held on Friday in Hà Nội. “Bilateral trade in the first three quarters of this year reached US$47.2 billion and we expect that the figure for the whole year will exceed $50 billion, increasing by 100 times from US$0.5 billion in 1992,” Jaehong said. Investment by Korean firms in Việt Nam has also increased significantly, rising to $55.8 billion as of September, making it the largest foreign investor in Việt Nam, he added. On the occasion of the APEC 2017 Summit held in Đà Nẵng and on the occasion of the 25th anniversary of diplomatic ties between Việt Nam and Korea, the Korean Ministry of Trade, Industry and Energy … [Read more...] about VN-Korea business forum aims to boost trade, investment
EVFTA: Opportunity to Elevate Vietnam – Korea Trade Cooperation
EVFTA: Opportunity to Elevate Vietnam - Korea Trade Cooperation The Vietnam - Korea Free Trade Agreement (KVFTA) was signed on May 5, 2015 and officially entered into force on December 20, 2015. To create favourable conditions for businesses and investors of the two countries to effectively capitalise on this FTA, thus boosting bilateral trade and investment, the Government of Korea decided to establish KVFTA Support Centre in Hanoi and Ho Chi Minh City, administered by the Korea Trade-Investment Promotion Agency (KOTRA). On March 4, the Korea-Vietnam FTA Support Centre in Ho Chi Minh City was officially opened and put in operation. On the sidelines of this event, Vietnam Business Forum interviewed Mr Roh In Ho, Vice President of KOTRA. My Chau reports. Could you please introduce the specific roles and tasks of two Korea-Vietnam FTA Support Centres in HCM City and Hanoi? The two centres are responsible for providing free consulting and counselling services for Vietnamese and South … [Read more...] about EVFTA: Opportunity to Elevate Vietnam – Korea Trade Cooperation
Viet Nam-Korea trade ties set to flourish
The future for bilateral trade is bright, says Park Chul Ho, General Director of the Korea Trade-Investment Promotion Agency (KOTRA) in Ha Noi. He was speaking on the occasion of the Korea Expo 2016 taking place in Ha Noi. The Viet Nam-Korea Free Trade Agreement (VKFTA) is expected to boost bilateral trade to US$70 billion in 2020.What are the reasons behind Korean interest and participation in Viet Nam’s retail market?Viet Nam’s retail market is growing rapidly, so it has potential, but it also poses great challenges for investors. The country has seen an average retail growth of 7.3 per cent a year between 2010 and 2015. In 2015, its market value reached US$112 billion, or an annual increase of 10.6 per cent. The modern retail market share accounted for 25 per cent of total retail sales – that is an average increase of 12 per cent between 2010 and 2015.Between 2016 and 2020, retail trade is expected to grow by 12 per cent a year, and its market value to exceed $180 … [Read more...] about Viet Nam-Korea trade ties set to flourish
VN, South Korea trade up 20%
Seafood products being processed at Ngo Quyen Seafood Processing JSC in Kien Giang Province for export to South Korea, Japan, Australia and Europe. — VNA/VNS Photo Manh Linh The Viet Nam-South Korea Free Trade Agreement, which came into effect in December 2015, has given a big boost to economic ties between the two countries, a Korean diplomat told a seminar in HCM City on Thursday. Speaking at a seminar on how to capitalise on the deal, Moon Byung Chul, commercial counsellor at the Republic of Korea consulate general, said bilateral trade was worth US$45.1 billion last year, a year-on-year increase of more than 20 per cent. It grew by 30 per cent in the first seven months of this year to $35.5 billion, he said. Investment by Korean firms in Viet Nam has also gone up significantly, rising to $54 billion as of last June, making it the largest foreign investor in Viet Nam, he added. Yoon Joo … [Read more...] about VN, South Korea trade up 20%