RoK’s Daegu, HCMC forge stronger business collaboration

Vice Chairman of the HCMC People’s Committee Le Thanh Liem  receives Mayor of Daegu Kwon Young Jin, Ho Chi Minh City,  November 13, 2017

The RoK side will soon launch a direct air route linking the two cities, while banks and the Chamber of Commerce and Industry of Daegu will open their representative offices and branches in the city.

In turn, Vice Chairman of the municipal People’s Committee Le Thanh Liem noted that the RoK is the largest investor and among three biggest trade partners of Viet Nam. 

The Viet Nam-RoK free trade agreement, which goes along with tax exemption and reduction for RoK products, will create more opportunities for RoK products in the Vietnamese market, he said.

At the same time, Vietnamese farm produce, seafood, garment and textiles have also enjoyed a good chance in the RoK, said Liem, adding that the target of US$70 in two-way trade by 2020 is feasible.

He also pointed out that Ho Chi Minh City is hosting over 1,400 RoK-invested projects worth more than US$4.6 billion.

The cities signed a cooperation and friendship programme in 2015, he said, adding that activities fostering business communities of both sides and promoting trade and investment ties have been conducted in both localities.

                                                                                                        By Vien Nhu