More cooperation opportunities expected for Vietnamese, Korean SMEs
Illustrative image (Source: VNA)
A forum was held in the central province of Quang Nam to support small- and medium-sized enterprises (SMEs) of the Republic of Korea (RoK) to expand investment and business opportunities in Vietnam.
The Baekdu Forum 2022 was jointly held by the Vietnam Chamber of Commerce and Industry (VCCI) and the Korea Federation of Small and Medium Business (KBIZ) with the support of the Saigon Telecommunication & Technologies Corporation (SaigonTel).
With reasonable labour costs and efforts in bilateral trade agreements, Vietnam is expected to be a suitable option for Korean firms in the time ahead, said Nguyen Cam Phuong, a representative from SaigonTel.
Vietnam is now a safe, attractive destination for investors from 141 countries and territories, with more than 34,000 projects worth some 400 billion USD, she continued, stressing that the RoK remains the leading investor in the Southeast Asian nation and ranks second in terms of trade with the revenue reaching about 90 billion USD this year.
The RoK has been also the biggest source of tourists to Vietnam this year, Phuong said, adding the two sides have seen in-depth collaboration in other spheres like banking-finance, infrastructure, transport, IT, science-technology, agro-forestry-fishery, education-training, culture and people-to-people exchange.
Vietnam was named among the world’s top 20 host economies for foreign direct investment (FDI) for the first time in 2020 by the UN Conference on Trade and Development (UNCTAD), she noted.
SaigonTel wishes to continue working as a bridge for Korean investors in Vietnam, helping the country integrate more intensively in the regional and global supply chains and corporate ecosystems, Phuong said.
According to KBIZ Chairman Kim Ki-mun, the two-way trade skyrocketed from nearly 500 million USD in 1992 when Vietnam and the RoK established diplomatic ties to around 90 billion USD at present.
The 8,800 Korean firms operating in Vietnam are SMEs. Meanwhile in the RoK, SMEs make up more than 99% of the total businesses, and employ up to 90% of the workforce.
The federation is closely coordinating with the Vietnamese Ministry of Planning and Investment to create optimal conditions and offer incentives to Korean SMEs in Vietnam in various fields, he said./.
Related News
![Vietnamese, Brazilian firms asked to work together to raise trade to 10 billion USD](https://english.haiquanonline.com.vn/stores/news_dataimages/2023/092023/25/14/croped/pm-pham-minh-chinh-120230925141127.2671940.jpg?230925021217)
Vietnamese, Brazilian firms asked to work together to raise trade to 10 billion USD
14:12 | 25/09/2023 Headlines
![Expert: Vietnamese economy to continue growth track](https://english.haiquanonline.com.vn/stores/news_dataimages/2023/082023/29/16/croped/120230829160046.0801390.jpg?230829040132)
Expert: Vietnamese economy to continue growth track
16:01 | 29/08/2023 Import-Export
![Vietnamese, Singaporean PMs attends investment promotion conference](https://english.haiquanonline.com.vn/stores/news_dataimages/2023/082023/29/15/croped/singapore20230829155848.1793630.jpg?230829035956)
Vietnamese, Singaporean PMs attends investment promotion conference
15:59 | 29/08/2023 Headlines
![Further interest rate cut proposed to support SMEs](https://english.haiquanonline.com.vn/stores/news_dataimages/2023/082023/15/16/croped/further-interest-rate-cut-proposed-to-support-smes20230815161749.4211850.jpg?230815041836)
Further interest rate cut proposed to support SMEs
16:18 | 15/08/2023 Finance
Latest News
HCM City annual international travel expo in September
15:15 | 26/07/2024 Import-Export
![Đồng Nai](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/26/15/croped/361692-4902364192590514-images2439387-z3245301932583-8e0fcec4c0298cbdd1a67efc377e87d420240726151202.9807900.jpg?240726031245)
Đồng Nai's key export item hopes for recovery
15:12 | 26/07/2024 Import-Export
![Rice exports to set record turnover of 5 billion USD in 2024](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/26/15/croped/1911gaoxuatkhaujpg-410520240726150836.9178600.jpg?240726030900)
Rice exports to set record turnover of 5 billion USD in 2024
15:08 | 26/07/2024 Import-Export
![4 export markets of tens of billions of dollars](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/25/15/image0012024072408363920240725154929.png?rt=20240725154931?240726081916)
4 export markets of tens of billions of dollars
08:19 | 26/07/2024 Import-Export
More News
![Difficult for phones to regain No. 1 position in exports](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/25/15/croped/image0012024072309572920240725155916.png?240726081749)
Difficult for phones to regain No. 1 position in exports
08:17 | 26/07/2024 Import-Export
![Indonesia licenses certificates of lobster cultivation for three Vietnamese companies](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/25/14/croped/lobster-409720240725140435.9377380.jpg?240725020459)
Indonesia licenses certificates of lobster cultivation for three Vietnamese companies
14:04 | 25/07/2024 Import-Export
![Vietnamese spend nearly 150 trillion VND on online shopping](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/25/14/croped/e-commerce-901820240725140330.8978560.jpg?240725020351)
Vietnamese spend nearly 150 trillion VND on online shopping
14:03 | 25/07/2024 Import-Export
![Four tens of billion USD export markets](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/24/22/croped/image00120240724083639-120240724220432.png?240725091715)
Four tens of billion USD export markets
09:17 | 25/07/2024 Import-Export
![Successful digital transformation solutions for wood industry enterprises](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/18/16/152024071210255720240718165847.jpg?rt=20240718165850?240725091456)
Successful digital transformation solutions for wood industry enterprises
09:14 | 25/07/2024 Import-Export
![Vietnamese lychee sold well at Costco stores in Australia](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/24/14/croped/screenshot-2024-07-24-091517-547920240724140956.8680410.jpg?240724021028)
Vietnamese lychee sold well at Costco stores in Australia
14:10 | 24/07/2024 Import-Export
![Durian exports forecast to top 3 billion USD in 2024](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/24/14/croped/durian-979820240724140848.8204690.jpg?240724020914)
Durian exports forecast to top 3 billion USD in 2024
14:09 | 24/07/2024 Import-Export
![FTA - support to promote pangasius export](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/15/16/17-ca2024012216053120240715164806.jpg?rt=20240715164809?240724091910)
FTA - support to promote pangasius export
09:19 | 24/07/2024 Import-Export
![Vietnam - France trade reached nearly US$2.5 billion in the first half of the year](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/23/14/croped/image0012024072010161720240723142729.png?240724091832)
Vietnam - France trade reached nearly US$2.5 billion in the first half of the year
09:18 | 24/07/2024 Import-Export
Your care
HCM City annual international travel expo in September
15:15 | 26/07/2024 Import-Export
![Đồng Nai](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/26/15/croped/medium/361692-4902364192590514-images2439387-z3245301932583-8e0fcec4c0298cbdd1a67efc377e87d420240726151202.9807900.jpg?240726031245)
Đồng Nai's key export item hopes for recovery
15:12 | 26/07/2024 Import-Export
![Rice exports to set record turnover of 5 billion USD in 2024](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/26/15/croped/medium/1911gaoxuatkhaujpg-410520240726150836.9178600.jpg?240726030900)
Rice exports to set record turnover of 5 billion USD in 2024
15:08 | 26/07/2024 Import-Export
![4 export markets of tens of billions of dollars](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/25/15/medium/image0012024072408363920240725154929.png?rt=20240725154931?240726081916)
4 export markets of tens of billions of dollars
08:19 | 26/07/2024 Import-Export
![Difficult for phones to regain No. 1 position in exports](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/25/15/croped/medium/image0012024072309572920240725155916.png?240726081749)
Difficult for phones to regain No. 1 position in exports
08:17 | 26/07/2024 Import-Export