The Ministry of Industry and Trade and the RoK’s Embassy in Vietnam co-chaired the conference, themed "RoK's foreign-invested firms towards exporting high added-value products" in Hanoi on May 10.
Addressing the conference, Deputy Minister of Industry and Trade Tran Quoc Khanh expressed his wish that foreign companies will significantly contribute to Vietnam’s economic development.
The statistics of the Ministry of Industry and Trade show that the RoK’s foreign-invested enterprises played an important role to the naional economic development, contributing 25% to Vietnam’s total export value in 2015.
The combined export value of the two RoK invested Samsung Electronics Vietnam plants in Thai Nguyen and Bac Ninh provinces reached 30.2 billion USD in the year, accounting for 27% of the total export turnover created by foreign direct investment (FDI) firms nationwide, and about 19% of the country’s export turnover.
The figures reflected that RoK has become the leading investment partner of Vietnam.
During the event, Vice Director of the Export Department Tran Thanh Hai said the Government and the Industry and Trade ministry hope RoK's FDI enterprises to strengthen their investment in new projects and existing ones in Vietnam through focusing on support industries and materials production for the textiles and footwear industry and electronics.
Hai called on RoK's FDI companies to boost production of high added-value exports and form supply chains with Vietnamese businesses, towards increasing the rate of local contents of goods produced in Vietnam.
At the conference, representatives from the Korea Trade- Investment Promotion Agency mentioned issues concerning tax incentives when using materials produced in Vietnam, and difficulties facing RoK firms in requiring import tax returns.
Addressing the conference, Deputy Minister of Industry and Trade Tran Quoc Khanh expressed his wish that foreign companies will significantly contribute to Vietnam’s economic development.
The statistics of the Ministry of Industry and Trade show that the RoK’s foreign-invested enterprises played an important role to the naional economic development, contributing 25% to Vietnam’s total export value in 2015.
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The figures reflected that RoK has become the leading investment partner of Vietnam.
During the event, Vice Director of the Export Department Tran Thanh Hai said the Government and the Industry and Trade ministry hope RoK's FDI enterprises to strengthen their investment in new projects and existing ones in Vietnam through focusing on support industries and materials production for the textiles and footwear industry and electronics.
Hai called on RoK's FDI companies to boost production of high added-value exports and form supply chains with Vietnamese businesses, towards increasing the rate of local contents of goods produced in Vietnam.
At the conference, representatives from the Korea Trade- Investment Promotion Agency mentioned issues concerning tax incentives when using materials produced in Vietnam, and difficulties facing RoK firms in requiring import tax returns.
