Delegates at the Vietnam-Korea Business Forum which took place in Seoul on April 14. (Photo: VNA)
Seoul (VNA) – The Vietnam-Korea Business Forum took place in Seoul on ꧒April 14 with the focus on opportunities for small and medium-sized enterprises (SMEs).
The forum was organised by the Vietnam Association of Small and Medium Enterprises and the Vietnam Trade Office in the Republic of Korea to connect businesses in the two countries.
Present at the event were Vietnamese Ambassador to the RoK Pham Huu Chi, President of the Vietnam Coffee and Cocoa Association (VICOFA) Luong Van Tu, Second Deputy Head of the Trade and Investment Unit of ASEAN-Korea Centre Moon Ki-bong and representatives of about 50 SMEs from both sides.
Ambassador Pham Huu Chi said the RoK is now Vietnam’s biggest investor, with about 45 billion USD pumped into Vietnam.
The RoK is also Vietnam’s third largest trading partner while Vietnam is the fourth largest of the RoK. Last year, bilateral trade exceeded 36 billion USD, he noted.
Chi said that the two sides have huge potential to develop trade and production linkages.
VICOFA President Luong Van Tu, who is former chief of Vietnam’s WTO negotiation delegation, said that the new-generation Vietnam-Korea Free Trade Agreement (FTA), which took effect late last year, opened up opportunities for businesses in the two nations, especially small and medium sized firms.
Processing and exports of farming products are among promising sectors where Vietnam’s strengths in agriculture and the RoK’s advanced technologies could complement each other, he added.
CS International, a RoK-based cosmetics producer, sees Vietnam as a promising market, director Cho Yoon told Vietnam News Agency.
He spoke highly of the country’s business climate and hoped to find a capable business partner at the forum.-VNA
The Republic of Korea (RoK) is among three leading countries that have the highest number of investors in the Vietnamese stock market, Chairman of the State Securities Commission Vu Bang said.
Authorities from the northern province of Ha Nam have promised optimal conditions for the Kolon Industries Group from the Republic of Korea (RoK) to run its business in the locality.
Foreign investors are registered to invest approximately 4.03 billion USD in Vietnam in the first quarter of this year, surging by 119 percent against the same period last year.
Vietnam continues to be the Republic of Korea (RoK)’s export market with the highest growth rate, according to a report released by the RoK Ministry of Trade, Industry and Energy (MOTIE) on April 1.
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.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
Delegates at the Vietnam-Korea Business Forum which took place in Seoul on April 14. (Photo: VNA)
