Deputy Prime Minister Hoang Trung Hai speaks at the forum (Source: VGP)
Hanoi (VNA) - The 🌳first economic forum betw🌃een Vietnam and the Republic of Korea (RoK) took place in Hanoi on November 13 with the participation of more than 400 delegates from the two countries’ governmental agencies and businesses.
The event, co-held by the Vietnam Chamber of Commerce and Industry (VCCI) and the Korea Chamber of Commerce and Industry (KCCI), aimed to further bilateral economic ties and increase cooperation opportunities given Vietnam’s active engagement in the bilateral free trade agreements (FTA) in the region.
In addition to improving the business climate and competitive edge, Vietnam is paying heed to increasing the quality of investment via luring multi-national groups to major hi-tech and infrastructure projects as part of its economic restructuring effort, said Deputy Prime Minister Hoang Trung Hai.
The country also concentrates on building policies encouraging small and medium sized enterprises (SMEs) to inject money into support industry and agriculture, he added.
Hai expressed his hope that the Korean business community to continually expand investment in Vietnam, especially in the fields of agriculture, education, transport infrastructure, energy, environment, health care, processing and manufacturing industries.
He suggested the RoK promote investment models that are suitable to the development of Vietnam, with the public-private partnership (PPP) form as an example.
The Vietnamese Government pledged to closely work with the RoK counterpart to improve business environment and competitiveness in order to help Vietnam remain an attractive destination for foreign businesses, the Deputy PM said.
As of December last year, the RoK was the biggest investor in Vietnam with over 37.2 billion USD in registered capital and more than 4,100 projects.
In the first ten months of 2015, the RoK’s combined newly-registered and increased capital surpassed 6.2 billion USD, focusing on processing and manufacturing industries, real estate and construction.
Two-way trade hit 28.8 billion USD in 2014 and 27.3 billion USD in January-September 2015, increasing 30.2 percent year-on-year.
According to VCCI President Vu Tien Loc, many Korean giants such as Lotte, Huyndai and Samsung are operating successfully in Vietnam.
The RoK sets an example in developing start-up businesses and establishing a strong business community, he said, adding that the country’s valuable experience shared at the event will help Vietnam build its national strategies in industrialisation and business development.
Vice President of the KCCI Lee Dong Geun said he hopes the economic forum will help businesses of both countries to further collaboration in various fields including support industry, infrastructure and agriculture.-VNA
The Republic of Korea (RoK) is the largest source of foreign investment in Vietnam , with an accumulated capital infusion of 23 billion USD, said the RoK Consul General in HCM City Kim Sang Yoon.
The Government of Vietnam will create more favourable conditions for foreign enterprises, including those from the Republic of Korea (RoK), to engage in long-term and successful business activities in the country.
Vietnamese and RoK scientists and managers gathered at a seminar in Hanoi on August 25 to discuss the Vietnam-RoK economic cooperation and prospects until 2020.
The impact of the Vietnam – Republic of Korea free trade agreement in solidifying the two countries’ economic ties was the main topic during a workshop in Thai Nguyen province on August 17.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Deputy Prime Minister Hoang Trung Hai speaks at the forum (Source: VGP)
