First Overseas Vietnamese Economic Forum commences in RoK

Friday, 2019-06-07 10:20:06
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Deputy Foreign Minister and Head of the State Committee for Overseas Vietnamese Affairs Nguyen Quoc Cuong delivers his welcome speech at the forum’s opening session, in Incheon, the Republic of Korea, on June 7. (Photo: Mai Loan)
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NDO – The first Overseas Vietnamese Economic Forum (OVECOF) opened at the Songdo Convensia International Exhibition & Convention Centre in Incheon, the Republic of Korea (RoK), on June 7.

>>> First overseas Vietnamese economic forum ready to kick start

Speaking at the event, Deputy Foreign Minister and Head of the State Committee for Overseas Vietnamese Affairs, Nguyen Quoc Cuong, praised the Business Association of Overseas Vietnamese (BAOOV) and the Vietnam Business Association in the Republic of Korea (VIBAK) in initiating the event, as well as the coordination from the State Committee for Overseas Vietnamese Affairs and the Vietnamese Embassy in the RoK in organising the event.

Hailing the significant meaning of the forum, Cuong said that this is the first time OVECOF has been organised, with the participation of over 300 Vietnamese enterprises in the country and from 25 countries and territories around the world along with the participation of Korean businesses.

The forum will feature discussion on relevant topics, including high-tech agriculture, tourism, investment, trade and services, as well as organising trade connections and exhibitions. The forum is being held in the RoK, a country with an advanced economy and a high level of science - technology development, who have an increasingly strong relationship with Vietnam in various fields, especially is economic and commercial relations, the deputy FM said.

Praising the relationship between Vietnam and the RoK over the past 20 years, from when the two countries established diplomatic relations in 1992, Cuong said the economic cooperation between the two has developed strongly. The RoK is among Vietnam's leading economic partners, taking the lead in direct investment and placing second in commerce, ODA and tourism, while Vietnam is the RoK’s fourth largest trade partner.

The Vietnamese community in the RoK has also increased in number with more than 170,000 living and working in the host country, contributing positively to the local socio-economic development and taking the role as “ambassadors” of friendship between the two countries. In that context, Deputy FM Cuong affirmed that the RoK is a very suitable and meaningful place to host the first OVECOF.

A performance at the opening session of the first Overseas Vietnamese Economic Forum. (Photo: Mai Loan)

Reviewing Vietnam’s achievements after over 30 years of Doi Moi (innovation) from 1986, which helped bring Vietnam into the group of the highest growth countries in the region, Cuong said that the result is the common unity and efforts of the whole nation, in which it would be a mistake to not to mention the positive and precious contribution of the Vietnamese community abroad.

Vietnamese Ambassador to the RoK, Nguyen Vu Tu, praised the enthusiasm of VIBAK's "entrepreneurial spirit", as well as BAOOV's efforts to accompany VIBAK throughout the organisation of the event from when it was just an idea. The diplomat also expressed his wish that the forum would become a regular event, to help build a network to connect Vietnamese entrepreneurs from all over the world, while enabling them to expand cooperation, support each other and contribute more effectively to Vietnam's economic development and international economic integration.

At the forum, Chairman of Gia Lai provincial People's Committee Vo Ngoc Thanh introduced the potential and strength of his province on industrial crops, fruit trees and tourism. According to Thanh, the whole province has eight industrial parks with multiple incentives for investors and businesses. He called for investment from overseas Vietnamese businesses in high-tech agriculture and agricultural product processing in Gia Lai, while also affirming that the province is committed to accompany investors for their success in the Central Highlands locale.

Taking place on June 7 and 8, the forum will feature various activities to strengthen the connection between Vietnamese and Korean entrepreneurs. The highlight will be a fair with about 50 booths to introduce products from Vietnamese businesses from around the world.

In recent years, on average, there are about 300 to 500 overseas Vietnamese intellectuals returning home each year to participate in scientific and technological activities, as well as education and training in Vietnam, contributing to the national development. Regarding investment and trade, so far, there are more than 3,000 projects run by overseas Vietnamese enterprises in the country with a total investment of about US$4 billion.

Mai Loan (from Incheon, the Republic of Korea)