Vietnam-RoK Business Forum set up

A business forum designed to help improve trade and investment ties between Vietnam and the Republic of Korea (RoK) was held in Hanoi on April 9.

The forum offers a chance for 100 businesses from both countries to exchange their experiences and seek partners, said Deputy Minister of Industry and Trade, Nguyen Thanh Bien.

Trade and Investment co-operation between the two countries has developed significantly in recent years, he said.

The RoK is the Vietnam’s second largest foreign investor with more than 2,280 projects worth US$22.4 billion. Big Korean firms, such as LG, Posco, Doosan, Samsung and Lotte, have operated efficiently in Vietnam.

Bilateral trade increased from a modest US$28 million in 1992 to US$10 billion in 2008. The global economic downturn caused a slight 4 percent drop to US$9.1 billion last year. The two countries aim to raise bilateral trade to US$20 billion in 2015, Mr Bien said.

Tags: Vietnam ROK business forum, Vietnam ROK cooperation

Posted by VBN on Apr 10 2010. Filed under Int'l Cooperation. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry