70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Trade - Service
Dialogue between Vietnam gov't and S.Korean businesses to boost bilateral ties: Amb.
Hai Yen 17:13, 2020/07/18
The South Korean ambassador to Vietnam suggested that the two countries should work on a mechanism towards the restoration of cooperation after the Covid-19 pandemic.

The dialogue between the Vietnamese Prime Minister’s Advisory Council for Administrative Procedure Reform and the South Korean business community held on July 17 would contribute to enhancing bilateral relations in the post-Covid-19 era, according to Park Noh Wan, South Korean ambassador to Vietnam.

 Minister-Chairman of the Government Office Mai Tien Dung (R) and South Korean Ambassador to Vietnam Park Noh Wan (L). Photo: VGP. 

In a meeting with Minister-Chairman of the Government Office and Chairman of the Council Mai Tien Dung prior to the dialogue, Park suggested that Vietnam and South Korea should soon establish a mechanism towards the restoration of cooperation between the two countries after the Covid-19 pandemic.

Business organizations such as the Korean Business Association in Vietnam, the Korean Chamber of Business (KorCham), the Korea Trade – Investment Promotion Agency (KOTRA) and the Korea International Cooperation  Agency (KOICA), representatives of Samsung, LG, and Lotte, among others, also attended the meeting.

  Overview of the dialouge. Photo: VGP. 

Ambassador Park proposed that the dialogue should  become an annual event, in turn serving as a motivation for South Korean enterprises to do business in the country. Regarding this suggestion, Minister Dung said the event would be held twice per year to support the business community.

Dung said the objective of the dialogue is to address concerns of South Korean businesses, especially as the bilateral relations are growing strongly.

South Korea is currently Vietnam’s largest investor and the fifth largest for this year with registered capital of US$544 million in the first half of this year, or 6.5% of the total. Korean firms have created jobs for 700,000 locals in many provinces and cities and contributed 30% of the country’s exports.

This year, Vietnam targets a GDP growth in range of 3 – 4% and inflation rate below 4%, Dung said.

The dialogue’s major agenda would focus on addressing concerns of the South Korean enterprises; measures and solutions of the Vietnamese government to support the business community; and cooperation plan between Vietnam and South Korea in the post-Covid-19 pandemic.

RELATED NEWS
TAG: Vietnam South Korea covid-19 coronavirus nCoV pandemic Kocham KOICA kotra Samsung LG Lotte Hyosung GDP growth bilateral relations
Other news
20:36, 2024/03/25
Vietnam seeks to strengthen ties with Finland
Vietnam remains a key partner for Finland in ASEAN.
18:15, 2024/03/21
Vietnam urged to soon implement PDP VIII
Ensuring an attractive investment environment "capable of mobilizing capital" is crucial to attracting long-term investment in infrastructure development.
15:41, 2024/03/21
Argentina seeks to elevate ties with Vietnam to strategic partnership
Both sides would continue to accelerate the process of negotiating and concluding the Vietnam-MERCOSUR Free Trade Agreement.
20:36, 2024/03/20
Vietnamese Gov’t to strengthen gold market management
Authorities must strictly enforce laws against gold smuggling, speculation, manipulation, and exploiting government policies to inflate gold prices, posing risks to market stability and safety.
15:06, 2024/03/20
South Korea to increase ODA by 50% to Vietnam in 2024
South Korea is the leading investor in Vietnam with a cumulative total of $86 billion.
13:50, 2024/03/20
Vietnam a priority for Dutch businesses in Southeast Asia
The Netherlands has become Vietnam's largest investor, the second-largest trading partner, and export market in Europe.