Answering a question from VietNamNet reporter at the press conference at noon on November 21 on the sidelines of the Vietnam - Korea Investment Cooperation Forum 2024, Mr. Kim Ki Mun, Chairman of the Korea Association of Small and Medium Enterprises, said: Recently, Korean enterprises have proactively come to Vietnam to build factories and invest in production.

However, recently, Korean enterprises also want to cooperate in joint ventures, transfer technology and production experience to Vietnamese enterprises. Korean small and medium enterprises are willing to cooperate with Vietnamese small and medium enterprises.

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Leaders of the two associations answered questions at the press conference. Photo: Binh Minh

According to Mr. Nguyen Van Than, Chairman of the Vietnam Association of Small and Medium Enterprises, the flow of Korean investment capital into Vietnam is very large. There are currently more than 10,000 Korean investors in Vietnam, 90% of which are small and medium enterprises, with a total capital of about 87 billion USD. However, in the opposite direction, there are still very few Vietnamese investors in Korea.

“First, Vietnam’s investment environment is more attractive than Korea’s. Second, the capacity of Vietnamese enterprises to invest in Korea is still weak. The Vietnam-Korea Investment Cooperation Forum wants to bring small and medium-sized enterprises of the two countries together. If we let private enterprises connect on their own, it will take a lot of time and effort,” Mr. Than explained.

Regarding the potential for cooperation between small and medium enterprises of the two countries in the semiconductor field, Mr. Kim Ki Mun noted: “Semiconductor is a core industry, affecting national competitiveness. Attracting investment in the semiconductor industry is different from other industries. There needs to be negotiations and agreements between governments , not only Korea or Vietnam but also the US and other countries. Without a foundation of government support, it is difficult for private enterprises to be proactive in this field.”

“Korea has many strengths in semiconductors. We want to work with the General Department of Vocational Training to send young Vietnamese people to Korea to study and then return to work in Vietnam instead of going abroad,” Mr. Than added.

Within the framework of the event, five memorandums of understanding were signed between local small and medium-sized enterprise associations between the two countries.