Vietnam Korea Cooperation Forum to begin
The Vietnam-Korea Cooperation Forum begins today in Hanoi.
The forum marks the 30th anniversary of Vietnam-South Korean diplomatic relations. Over 5,000 companies will take part, with the goal to promote Vietnamese culture, image and business to international investors. The forum will host business matching events and trade investment conferences to facilitate dealmaking.
Over the past 30 years, bilateral economic cooperation has proliferated with South Korea’s significant investments in Vietnam making up 18.5% of all its FDI. This forum plays into the broader initiative to continue expanding and strengthening ties between the two countries. Other actions include new plans to strengthen their strategic partnership to promote freedom and peace in the Indo-Pacific.
Expect today’s conference to promote economic growth and business cooperation in both countries in the medium to long-term. Growth and investment will likely focus on developing industries in both countries to promote sustained economic growth and future advancement. Potential target areas include high-tech electronics, LNG powerplants, green energy, and semiconductor production. Investment and cooperation in these areas would increase both countries’ positions in global supply chains and could have major long-term benefits as both countries, but especially Vietnam, become more attractive to trade partners wary of China.
