Viet Nam News HÀ NỘI — The Việt Nam-Korea Free Trade Agreement (VKFTA), which took effect on December 20, 2015, has played an important role in attracting investments from the South Korea to Việt Nam and helping the Southeast Asian nation integrate deeper into the regional economy. Lê An Hải, Deputy Director of the Vietnamese Ministry of Industry and Trade (MoIT)’s Department of Asia and Africa Markets, made the statement at a forum on VKFTA utilisation and implementation held in Hà Nội yesterday. Việt Nam is currently the fourth largest recipient of foreign direct investment (FDI) from South Korea, while the East Asian country is the biggest foreign investor in Việt Nam with total registered capital of more than US$58 billion, Hải stressed. “The target of increasing bilateral trade volume to $100 billion by 2020 is possible towards creating more linkages between the two … [Read more...] about Việt Nam-Korea FTA gives boost to two-way trade
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Viet Nam National FinTech Day in May
The National FinTech Day will be held in May. — Photo cafef.vn The State Bank of Viet Nam (SBV) will organise the National FinTech Day in May. This is the first major event of FinTech in the country, with the participation of FinTech management agencies, the start-up community, commercial banks, experts from Viet Nam, as well as foreign countries. Speaking at the Viet Nam-Korea Financial Co-operation Forum on March 22, SBV’s governor Le Minh Hung stressed that the industrial revolution 4.0 is causing a boom in technology, bringing many opportunities, creating added value and is a great driving force for economic development. Banking and finance is a pioneer sector in rapidly adopting and applying the superior features of technology solutions to enhance innovation, improve products and services, and reduce costs, thereby bringing benefits to customers, he said. "On the other hand, the financial and banking system may face many challenges due to the presence of machines and … [Read more...] about Viet Nam National FinTech Day in May
Viet Nam, RoK firms to boost technology transfer
Representatives of Vinh Phuc Investment Trading Company Limited and RoK’s Jeonwoo Precision Company Limited sign an agreement in the matching programme. — VNS Photo Phuong Thao Enterprises from the Republic of South Korea want to boost their co-operation with Vietnamese firms, especially ones working in the technology sector due to the huge potential in the Vietnamese market. The statement was made by Kyu-Min Baek, director of global innovation at the Korea’s Innobiz Association, at the Viet Nam – Korea small- and medium–sized enterprises (SMEs) technology matching conference held in Ha Noi on Thursday. The seminar was organised in the framework of South Korean President Moon Jae-in’s state visit to Viet Nam from March 22-24. The event is a chance for Vietnamese enterprises to access advanced South Korean products and technologies and promote opportunities for investment and business co-operation between enterprises from the two countries. Through … [Read more...] about Viet Nam, RoK firms to boost technology transfer
Many Korean goods to receive Viet Nam tax exemption
Korean goods are displayed in Vietnamese supermarkets. — Photo foody.vn Many goods imported from the Republic of Korea (RoK) into Viet Nam will be exempted from import taxes in 2018, due to the Viet Nam-Korea Free Trade Agreement (VKFTA). The Government recently issued Decree No149/2017/ND-CP, which regulates a new special preferential import tariff, as agreed upon in the VKFTA, and to be put in place between 2018 and 2022. Under the decree, import taxes imposed on 704 types of products imported from the RoK to Viet Nam, will be eliminated in 2018. The groups of commodities that will enjoy tax exemptions this year are mainly in seafood, wheat flour, confectionery, diesel fuel, jet fuel, paint, laundry detergent, plastic, iron and steel products, power machinery and equipment, and electronic products. In 2018, an additional 653 products imported from the RoK will also have their tax rates lowered from last year. The preferential tax rates will be applied to commodities directly … [Read more...] about Many Korean goods to receive Viet Nam tax exemption
Korea Tourism Organisation’s representative office to open in Viet Nam
(Cinet)- On October 2nd, at the Vietnam National Administration of Tourism’s headquarter, Deputy General Director Nguyen Manh Cuong gave the Decision of Vietnamese Ministry of Culture, Sports and Tourism to Mr. Park Iearak, Head of KTO’s representative office in Viet Nam. Accordingly, KTO is permitted to open its representative office in Viet Nam, based in Ha Noi, and implement tourism promotional activities in conformity with laws of Viet Nam. The MoCST also authorises the VNAT’s supervision over the operation of the representative office. Addressing at the ceremony, Deputy General Director Nguyen Manh Cuong said, in the first 9 months of 2012, the Korean tourist arrivals to Viet Nam increase by 38% over the same period last year, making Korea the 2nd position among top source markets of Viet Nam tourism. The opening of the KTO’s representative office would facilitate the promotion of Korea image to Vietnamese public and enhance the exchange and relationship … [Read more...] about Korea Tourism Organisation’s representative office to open in Viet Nam
Việt Nam, Korea open a new chapter
To mark the 25th anniversary of the establishment of diplomatic relations with South Korea, the republic’s ambassador in Việt Nam, Lee Hyuk, sends a message to Việt Nam News readers. The Korea - Việt Nam Summit between President Moon Jae-in and State President Trần Đại Quang in Đà Nẵng in November during the APEC Economic Leaders’ Week held a special meaning for Korea and Việt Nam. It was the first meeting of the two leaders to celebrate 25 years of bilateral relations. Although it was their first encounter, the two leaders were like old friends exchanging good wishes, personal thoughts and ideas on various issues, and conversed for more than 40 minutes. The meeting was symbolic of the special friendship and solidarity between the two peoples. Indeed, while there are various reasons behind the unprecedented rapid development of South Korea - Việt Nam relations, one of the key driving factors has … [Read more...] about Việt Nam, Korea open a new chapter
Viet Nam – Korea Cultural Night
As part of the event “Busan Days in Ho Chi Minh City” from November 9 to 11, the concert “Viet Nam – Korea Cultural Night” took place at the Ho Chi Minh City Opera House yesterday. The concert featured traditional and contemporary music of the two countries.On stage were dancers of the HCMC Opera and Ballet Group, Korea’s XTC hiphop band and adorable artists of the HCMC Children’s House to name a few. One of the highlight performances was that of Samul Nori, a type of traditional percussion music originating in Korea, preformed by Korean artists.Meanwhile, a seminar “Strengthening Cooperation in Cinema Between Viet Nam and Korea” opened the same day at the Diamond Cinema Complex. It had the participation of the city’s leaders and Director, Park Kwang Su, chairman of the Busan International Film Festival Association. Mr. Oh Seok Kun, of Balcon Company, also attended the conference. Mrs. Nguyen The Thanh, deputy … [Read more...] about Viet Nam – Korea Cultural Night
Viet Nam delivers message on Tourism for Peace at UNWTO/UNESCO World Conference on Tourism and Culture
Viet Nam delivers message on Tourism for Peace at UNWTO/UNESCO World Conference on Tourism and Culture Update: Friday, December 15, 2017 Views: 601 (TITC) – In the framework of UNWTO/UNESCO World Conference on Tourism and Culture taking place from December 11-12, 2017 in Muscat, Sultanate of Oman, Vietnamese delegation led by Chairman of Viet Nam National Administration of Tourism (VNAT) Nguyen Van Tuan attended Special Dialogue on Cultural Tourism as a Factor of Peace and Prosperity. Chairman of VNAT, Mr. Nguyen Van Tuan delivered a message on tourism for peace at the Dialogue At the Dialogue, representatives of countries and organizations of UNESCO, WB, WTTC shared experience on tourism contribution to peace and social-economic development in the areas suffered from wars or conflicts; and stories about reborn destinations. Speaking at the Dialogue, Chairman Nguyen Van Tuan highlighted achievements of Viet Nam … [Read more...] about Viet Nam delivers message on Tourism for Peace at UNWTO/UNESCO World Conference on Tourism and Culture
Hanwha Life named among top 10 sustainable business in Viet Nam
Hanwha Life Vietnam is proud to have been honoured as a Top 10 Sustainable Business in Viet Nam in 2017 by the Viet Nam Chamber of Commerce and Industry.This achievement is convincing proof of the company’s efforts to achieve sustainable development in Viet Nam, not just in terms of its business performance but also the many contributions it has been making to the community.The sustainable business review and rating in Viet Nam is a prestigious annual initiative commissioned by the VCCI jointly with the Viet Nam Business Council for Sustainable Development (VBCSD) to pay tribute to 100 leading businesses with an excellent track record in sustainable development.To make it to the list, Hanwha Life Vietnam went through a demanding assessment based on the corporate sustainability index designed as a measure of how a business is valued based on three key criteria – economic, social and environmental accountability.In its eight years in Viet Nam Hanwha Life quickly became one of … [Read more...] about Hanwha Life named among top 10 sustainable business in Viet Nam
PM Phuc attends Annual Viet Nam Business Forum 2017
The Annual Viet Nam Business Forum 2017. Photo: VGP Participants to the forum are expected to focus on figuring out measures to spur productivity and industrial development in the context of the 4th Industrial Revolution as well as the development of the private sector.Representatives of the Viet Nam Chamber of Commerce and Industry (VCCI) and Business Associations of the Republic of Korea, Japan, the European Union and the US are expected to roll out legal and policy recommendations for Viet Nam to further improve its business climate and boost sustainable development and international integration.Viet Nam’s GDP rose from US$27 billion in 1997 when the forum was established to about US$220 billion in 2017 partly thanks to the expansion of the Vietnamese business community./. By Ngoc Van … [Read more...] about PM Phuc attends Annual Viet Nam Business Forum 2017