Vietnam and RoK sign bilateral co-operation agreement
Nhan Dan, Vietnam
Vietnam and RoK sign bilateral co-operation agreement
14 December 2005
Investment promotion agencies of Vietnam and the Republic of Korea (RoK) reached an agreement on bilateral co-operation in Hanoi on December 13.
The Foreign Investment Agency (FIA Vietnam), an affiliate of the Vietnamese Ministry of Planning and Investment, and Invest Korea, an arm of the Korean Trade-Investment Promotion Agency, a government-sponsored non-profit organisation, signed the agreement during the first session of the Vietnam - RoK Committee for Investment Co-operation.
Under the agreement, FIA Vietnam and Invest Korea will boost investment relations between the two countries and facilitate operations by businesses of both sides.
To date, the two agencies have agreed to exchange personnel, conduct and share experiences in promotional activities, and particularly, establish a Korean helpdesk in Vietnam to assist Korean businesses and visa versa.
They also decided to meet regularly to map out plans on implementing the agreement.
RoK now has more than 1,000 projects in Vietnam worth nearly US $5.2 billion, ranking third after Singapore and Taiwan among the total 74 countries and territories investing into Vietnam.
In the first 11 months of this year, Korean investors poured nearly US $492 million into 168 projects in Vietnam. Up to 81.7% of the projects are in industry and construction, while only 6.7% of them are in agro-forestry and aquaculture. (VNA)
