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Vietnamese, RoK businesses sign many commercial agreements


Ha Noi, Jan. 24 (VNA) - Many agreements and memoranda of understanding worth more than 11 million USD were signed between 13 companies from Incheon city of the Republic of Korea and Vietnamese businesses during a meeting held by the Korea Trade-Investment Promotion Agency (KOTRA) in Ha Noi on Jan. 24.

 

This is the first RoK business delegation to visit Viet Nam to seek opportunities for their investment and trade promotion in 2005.

 

According to Lee Sung-khil, KOTRA-Ha Noi vice director, this year his office is planning to receive 15 delegations of RoK businesses in Viet Nam. In addition, KOTRA-Ha Noi will help RoK companies to take part in Viet Nam Expo-2005, and continue to organise annual exhibitions to introduce RoK products made in Viet Nam.

 

Lee said that RoK businesses want to invest in Viet Nam because Viet Nam gives the most priority to RoK businesses and the country has the greatest market potential in the region.

 

RoK businesses considered  KOTRA as an important bridge between RoK and Vietnamese businesses' activities. KOTRA has regularly provided those Korean businesses which want to invest in Viet Nam with information about the investment environment, and assessments of and research on the Vietnamese market, as well as trade promotion activities.

 

KOTRA also helps Vietnamese provinces and cities to visit the RoK to seek opportunities for export     and hold seminars to attract investment.

 

Last year, KOTRA-Ha Noi welcomed 16 delegations of Korean businesses with a total of 170 companies coming to seek opportunities to invest and do business in Viet Nam. According to KOTRA's statistics, the total value of contracts signed between the two sides at a business meeting for each delegation averaged 300,000-500,000 USD. However, the value of contracts discussed and put forth in the memoranda of understanding is much higher, about 3 million  USD.

 
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