(MPI) – On the afternoon of November 21, 2024, Deputy Minister of Planning and Investment Do Thanh Trung attended the Vietnam – Korea Investment Cooperation Forum 2024 with the theme “Trust and Cooperation: Strategy for sustainable development of small and medium enterprises”. The forum was organized by the Vietnam Association of Small and Medium Enterprises and the Korea Association of Small and Medium Enterprises in coordination with the Ministry of Planning and Investment of Vietnam and the Ministry of Small and Medium Enterprises and Startups of Korea at the National Innovation Center, Hoa Lac campus – a symbol of Vietnam's aspiration for innovation.
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| Deputy Minister of Planning and Investment Do Thanh Trung attended the Forum. Photo: MPI |
Attending the Forum were Deputy Prime Minister Nguyen Hoa Binh ; Ambassador Extraordinary and Plenipotentiary of the Republic of Korea to Vietnam Choi Young Sam; Deputy Minister of Small and Medium Enterprises and Startups of Korea Kim Sung Seop; Chairman of the Korea Association of Small and Medium Enterprises Kim Ki Mun; Chairman of the Vietnam Association of Small and Medium Enterprises Nguyen Van Than. Also attending were representatives of leaders of ministries, departments, branches and localities, and representatives of Korean and Vietnamese enterprises.
The forum was attended by a large number of representatives from the business communities of the two countries, clearly demonstrating their interest and desire to continue promoting bilateral investment cooperation, contributing to fostering an increasingly strong relationship between the two countries, raising it to a new level.
According to Mr. Kim Ki Mun, Chairman of the Korea Small and Medium Enterprises Association, the Forum is the result of a meeting between Vietnamese Prime Minister Pham Minh Chinh and a Korean business delegation last July; this is not only a place to share experiences but also creates new cooperation opportunities, promoting the development of small and medium enterprises of the two countries. At the same time, he said, with strong support from both governments, this year's event reached the largest scale ever, both in quantity and quality.
Mr. Kim Ki Mun expressed his belief that with the contents discussed and the documents signed at this Forum, Korean small and medium enterprises will have more opportunities to expand their markets and build sustainable cooperative relationships in Vietnam.
With the participation of nearly 400 Vietnamese enterprises and 200 Korean enterprises, along with 50 business associations in key industries and sectors, the need for practical connections shows the importance of this Forum.
Mr. Nguyen Van Than, Chairman of the Vietnam Association of Small and Medium Enterprises, said that in Vietnam, small and medium enterprises account for 97% of the total number of enterprises, annually contributing more than 40% of GDP and 60% of the labor force. In Korea, small and medium enterprises account for 99%, annually contributing 46% of GDP and 81% of the labor force.
In recent times, especially after the two countries upgraded their diplomatic relations to Comprehensive Strategic Partnership in 2022, cooperation activities between Vietnamese and Korean enterprises have become much more vibrant, in line with the policies of the two States and achieved some quite positive results.
On the basis of political trust between the two countries, along with the support of the two governments, we firmly believe that the cooperation between Vietnamese small and medium enterprises and Korean small and medium enterprises in the coming time will be very favorable, especially in promoting the potential, strengths, aspirations and similarities in culture and people of each other to join hands to develop the economy, Mr. Nguyen Van Than emphasized.
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| Permanent Deputy Prime Minister Truong Hoa Binh speaks at the Forum. Photo: MPI |
Speaking at the Forum, Deputy Prime Minister Truong Hoa Binh highly appreciated the Vietnam Association of Small and Medium Enterprises and the Korea Association of Small and Medium Enterprises for coordinating with the Ministry of Planning and Investment of Vietnam and the Ministry of Small and Medium Enterprises and Startups of Korea to organize the Forum. This is an important time for businesses and investors to accelerate the achievement of investment and business plans set at the beginning of the year. At the same time, he emphasized that in order to achieve success in the Vietnam - Korea cooperation relationship, in addition to the fundamental factor of the good friendship between the two countries and peoples, the support and attention of the two governments, it is necessary to mention the contribution and consensus of the business communities of both sides.
Deputy Prime Minister Truong Hoa Binh said that the Vietnamese Government always encourages Korean enterprises to expand investment cooperation in areas where Korea has strengths and Vietnam has high demand for attracting and prioritizing, such as: high technology, electronics, semiconductors, artificial intelligence (AI), infrastructure construction, renewable energy, new energy (hydrogen), biotechnology, innovation, training of high-quality human resources, etc.
The Deputy Prime Minister suggested that Korean SMEs strengthen business cooperation and connection with Vietnamese SMEs in the spirit of mutual benefit. He also expressed his belief that, with the high determination and great efforts of both sides, on the foundation of the traditional friendship that is constantly developing well between Vietnam and Korea, economic - investment - trade cooperation will continue to be an important pillar in the bilateral relationship, a driving force to help Vietnam and Korea together overcome all difficulties and challenges in the new context, bringing the relationship between the two countries to a new height for the prosperity of the country and the interests of the people.
Within the framework of the Forum, a Memorandum of Understanding was signed between member associations of the Korea Small and Medium Enterprises Association and provinces and cities in Vietnam. Also at the Forum, a representative of the Ministry of Planning and Investment gave an introduction to foreign direct investment in Vietnam: Background and orientation; a representative of the Korean side introduced the importance of applying technology to agriculture; the Smart Factory support system of Samsung Group; Representatives of Korean and Vietnamese banks shared credit strategies, helping to optimize capital sources and minimize financial risks for businesses./.
Up to now, Korea has always been the number 1 investment partner of Vietnam among 146 countries and territories investing in Vietnam with a total registered investment capital of more than 87 billion USD with nearly 10,000 projects. Korea's investment focuses on important areas of the economy such as: high technology, electronics, manufacturing industry, energy, automobiles, construction, real estate, etc. |
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