Hanoi (VNA) – The Vietnamese retail market is still attractive tobusinesses from the Republic of Korea (RoK), heard a recent workshop in Hanoi.
GeneralDirector of the Korea Trade-Investment Promotion Agency Park Chulho said the freetrade agreement (FTA) between Vietnam and the RoK took effect in 2015 with severaltax lines removed.
The FTAbetween ASEAN and the RoK has also opened up opportunities for the businesscommunity, especially Vietnam and the RoK, to realise the two-way trade targetof 70 billion USD by 2020, he added.
He citedmore than 170,000 Korean people and 5,500 enterprises living and operating inVietnam, and the RoK is also the third biggest trade partner of Vietnam, afterthe US and China.
Hong Sun,Secretary General of the Korea Chamber of Commerce and Industry, said Vietnamimported 22.4 billion USD worth of goods from the RoK.
Foreign investorsare attracted to the Vietnamese market as they see the country’s potential andrising goods consumption.
Ko Sang Goo,president of the RoK’s K&K trading company, revealed its strategy ofbringing Korean products to Vietnam in the coming years.
He said 67Korean companies will sell products subject to tax reductions under the Vietnam– RoK FTA in the Southeast Asian market at the end of 2016.
This isconsidered a big campaign to make inroads into one of the largest markets inthe region, he added.
Koreanlawyer Choi Jiung said that with current policies, there are plentyopportunities for overseas businesses to penetrate Vietnam.
He urged thetwo sides to optimise the Vietnam – RoK free trade pact for mutual benefits.
SinceSeptember 2016, a series of Korean convenience stores opened in Vietnam, anumber expected to hit 200 in the next five years.
E-Mart,Korea’s No.1 discount store, signed an agreement to inject 4 trillion VND (17.6billion USD) into Ho Chi Minh City to build a large-scale retail network.-VNA
The target of 70 billion USD in two-way trade is achievable if Vietnam and the Republic of Korea (RoK) optimise the bilateral free trade agreement (FTA).
Increasing visits between defence agencies of Vietnam and the Republic of Korea (RoK) will help bolster bilateral ties, said Le Hien Van, deputy head of the General Political Department of the Vietnam People’s Army.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Illustrative image (Source: VNA)
