VietNamNet Bridge - A new investment wave is expected to hit Vietnam’s textile & garment industry in the time to come, triggered by the Vietnam-South Korea FTA. Vietnam’s textile and garment exports to South Korea have been growing very rapidly since 2015. Textiles and garments received big benefits from the trade agreement, with 24 product categories enjoying preferential tariffs lower than the tariffs applied to other ASEAN countries. An analyst, citing reports of the Ministry of Industry and Trade (MOIT), affirmed that exports of some products have been increasing steadily by 3-4 percent each year in the last three years. Textiles and garments received big benefits from the trade agreement, with 24 product categories enjoying preferential tariffs lower than the tariffs applied to other ASEAN countries. Textiles & garments now account for 17.8 percent of Vietnam’s total exports to South Korea. However, Vietnam’s textiles and garments only … [Read more...] about Vietnam ready to receive South Korean investment in textile & garment sector
Korean trade investment promotion agency
Potential business opportunities for Vietnamese and Korean enterprises
Over the years, Vietnam Expo has done a good job of promoting trade among neighbouring countries in the region and has been constantly expanding to reach an ever-increasing line-up of attending countries, increasing the number of enterprises which have well-known brands, and demonstrating new technologies, as well as connecting enterprises. The 28th Vietnam International Trade Fair (Vietnam Expo 2018) themed “Vietnam Expo—Enhancing regional and global economic links,” will take place on April 11-14 at Hanoi International Exhibition Centre (ICE). There will be 500 booths and 450 enterprises from 20 provinces and cities from across Vietnam and 23 countries and territories. The national pavilions include Russia, Cuba, Korea, Nepal, China, and Vietnam. Over the past 25 years, Vietnamese-Korean trade has grown from just $500 million in 1992 to approximately $60 billion at the end of last year. The figure is expected to reach $70 billion by this year and $100 billion by … [Read more...] about Potential business opportunities for Vietnamese and Korean enterprises
Investment Promotion in South Korea
Investment Promotion in South Korea The Vietnam Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade in cooperation with the Korea Investment-Trade Promotion Association (KOTRA), the Embassy of Vietnam in South Korea and other relevant agencies will organise the Investment Promotion Programme in South Korea, scheduled from June 6 to 10, 2017. The programme aims to introduce the Vietnamese investment environment and investment incentive policies to South Korean businesses and investment agencies; recommend investment opportunities in mechanics and electronics industries; and create opportunities for Vietnamese and South Korean localities, organisations and enterprises to meet and exchange investment cooperation opportunities. The main contents include “South Korea and Vietnam-Promoting investment cooperation in mechanics and electronics” workshop; trade and investment exchange between Vietnamese and Korean businesses in Seoul, South Korea; working … [Read more...] about Investment Promotion in South Korea
Corporate social responsibility of Korean businesses in Vietnam
(VOVworld) – As leaders of foreign investment in Viet Nam, Korean investors consider themselves to be local businesses contributing to Vietnam’s development, according to opinions shared at a conference in Ha Noi on Tuesday. The conference, the first of its kind on Korean corporate social responsibility (CSR), was organised by the Korean Embassy, the Korean Chamber of Commerce and Industry, the Korean Trade-Investment Promotion Agency, and the Ministry of Planning and Investment. Korean ambassador Jun Dae Joo said, as of August, the cumulative investment by Korea in Viet Nam had reached 43 billion USD, making Korea the top foreign investor in Vietnam. He added that when the Vietnam-Korea Free Trade Agreement goes into effect this year, the targeted bilateral trade of 70 billion USD by 2020 will become achievable. Deputy Minister of Planning and Investment Nguyen Van Trung expressed appreciation for the Korean CSR programs, calling them useful for Vietnam’s … [Read more...] about Corporate social responsibility of Korean businesses in Vietnam
South Korean trade official kidnapped in Lybia released
(VOVworld)- Han Seok-woo, Head of the Libya unit of the Korea Trade-Investment Promotion Agency (KOTRA), was set free 3 days after being abducted by gunmen in Libya. Han Seok-Woo is being protected by the Libyan government and will be handed over to the South Korean Embassy. He was kidnapped in the capital city of Tripoli while returning home from work on January 19. Libya has been in a state of chaos and violence since former leader Muammar Gaddafi was ousted in October, 2011. … [Read more...] about South Korean trade official kidnapped in Lybia released