“Strengthening cooperation with Korean SMEs” is the common goal of both parties at a recent meeting between Dr Doan Duy Khuong, Vice President of Vietnam Chamber of Commerce and Industry (VCCI) and Mr Park Sung-taek, Chairman of Korea Federation of Small and Medium Enterprises (KBIZ), at the VCCI Headquarters in Hanoi. The event aimed to promote cooperation between the two countries’ SMEs in the fields of trade, investment and supporting industries.
Speaking at the meeting, Dr Doan Duy Khuong said that after 6 years upgrading relations to "cooperative strategic partnership", Vietnam-Korea relations have continued to expand and deepen. The two countries have become increasingly important partners in many areas, especially in economic cooperation. Vietnam-Korea Free Trade Agreement (FTA) is a milestone to open a new era in the development of economic cooperation between the two countries.
About cooperation between SMEs of the two countries, VCCI Vice President Doan Duy Khuong stressed that investment by Korean SMEs in Vietnam has economic efficiency and contributes to the socio-economic development. As many as 95 percent of Vietnam’s businesses are SMEs. This will be a very good basis for cooperation of the two countries’ SMEs.
Mr Park Sung-taek said that 90 percent of Korean enterprises are also SMEs and many Korean SMEs are operating in Vietnam. KBIZ also opened a representative office in Ho Chi Minh City to help Korean enterprises with investment information, expanding operations in Vietnam. Currently the Federation is trying to implement a number of cooperation projects with Vietnam enterprises in areas such as the processing industry, manufacturing and supporting industries.
According to Mr Park Sung-taek, Vietnam is a high potential market and there are many opportunities for cooperation. A lot of Korean SMEs want to focus and redirect investment into Vietnam, including a number of businesses in the fields of footwear and electronics. Mr Park Sung Taek also offers suggestions to establish and implement programs to support the two countries’ SMEs. VCCI and KBIZ will act as a bridge connecting the two countries’ SMEs. KBIZ is committed to supporting Vietnam’s economic development as well as promoting SMEs cooperation to ensure bringing benefits for both sides.
Appreciating the above suggestions, Dr Doan Duy Khuong said that the two sides can discuss programmes and policies to strengthen investment cooperation opportunities. VCCI Vice President also proposed regular exchange of personnel between the two sides in order to understand information, trends and aspirations of the investors of the two countries, facilitating investment cooperation between two countries’ SMEs.
Emphasizing the potential for Vietnam-Korea SME cooperation in the near future, VCCI Vice President Doan Duy Khuong said that Vietnam and Korea have a great opportunity to further strengthen trade and production linkages and reap greater achievements in the process of international economic integration. With Vietnam-Korea FTA, SMEs of the two countries will have an opportunity to exploit the trade preferences, investment, contributing to further strengthening bilateral trade and investment cooperation.
On behalf of the VCCI, Vice President Doan Duy Khuong also pledged to cooperate closely with the KBIZ, enabling SMEs of the two countries have the opportunity to interact and communicate directly with each other to find cooperation opportunities, thereby contributing to strengthening Vietnam-Korea cooperation ties, especially in the economic field in the current context.
Thu Ha
Vietnamese
