The business session between Vietnamese and RoK enterprises held in Seoul on September 14.(Photo: VNA)
Exports from the Republic of Korea (RoK) to Vietnam have rocketed this year, despite declines in other major export markets like China and Japan, prompting local firms to seek business partners in the Southeast Asian country.
According to statistics announced by the RoK government on September 15, exports to Vietnam increased by 29.9 percent in the first seven months of this year compared to the same period last year.
Vietnam leapt two steps to rank as the RoK’s fourth largest export market, accounting for 5.2 percent of its outgoing shipments.
On September 14, the Korea Trade and Investment Promotion Agency (KOTRA) invited 17 major state-owned and private businesses to business sessions in Seoul, during which cooperation projects worth more than 1 billion USD are expected to be promoted.
The two countries also signed a free trade agreement in May, under which Vietnam will remove its import duties on 89.9 percent of all products from the RoK over a 15-year period following its implementation.
The RoK will do the same on 95.4 percent, or 11,668 out of the total 12,232 products, imported from Vietnam.
Trade between the two countries exceeded 26 billion USD last year, the highest value since the two established diplomatic ties in 1992.-VNA
The Republic of Korea (RoK) has proposed ambassadors of ASEAN countries to support its financial groups in boosting investment in the grouping’s member states.
Vietnam has usurped Japan for the first time to become the fourth largest importer of products from the Republic of Korea (RoK), in the first seven months of this year.
Farm produce exporters in Vietnam are being urged to study the Republic of Korea market thoroughly to gain a firm foothold, especially given the two countries recently signed a free trade agreement.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
The business session between Vietnamese and RoK enterprises held in Seoul on September 14.(Photo: VNA)
