The Busan-based Sasang Trade Development Committee in the Republic of Korea (RoK) and the Investment & Trade Promotion Centre of Ho Chi Minh City on October 4 signed a cooperation agreement on information exchange, technology, and investment and trade.
The cooperation between Ho Chi Minh City and Busan will help promote investment and trade between Vietnam and the RoK, as well as create favorable conditions for their businesses to research markets and seek partners.
The Busan delegation, including 31 businesses in the fields of footwear, mechanics, equipment, spare parts, iron and steel manufacturing and high-technology showed their interests in Ho Chi Minh City’s investment incentives relating to administrative procedures, business license, corporate income tax, as well as management models in industrial and export processing zones.
The two nations’ bilateral trade turnover has reached around US $10.2 billion so far this year. The two sides are striving to achieve the goal of US $16 billion by the end of 2011 and US $20 billion by 2015.
The Sasang Trade Development Committee is one of the 16 biggest commercial organizations with experiences in promoting and supporting RoK businesses.