Strengthening trade connection and investment cooperation in the field of high technology with Korea
Publish date 11-01-2021 09:18

On the morning of the 11th of January, Mr. Luong Nguyen Minh Triet, Standing Deputy Secretary of the City Party Committee and Chairman of the City People’s Council, had a meeting with Mr. Ahn Min Sik, Consul General of the Republic of Korea in Da Nang. At the meeting, Mr. Luong Nguyen Minh Triet said that the establishment of the Consulate in Da Nang had strengthened the friendship and cooperation between Viet Nam and Korea generally and between Da Nang and Korea in particular.

Mr. Triet requested that Mr. Ahn Min Sik  continue to facilitate cooperation between Da Nang and localities of Korea, call on Korean businesses to invest in Da Nang especially in the fields of information technology and high technology, and share experiences of Korea’s proactive response to climate change and natural disaster recovery.

In 2019, the number of Korean tourists visiting Da Nang reached 1.74 million, ranking as the top international tourist market in Da Nang. Due to the complicated development of COVID-19, the number of Korean tourists coming to Da Nang in 2020 decreased sharply. Mr. Triet emphasized that in the context of COVID-19, the two sides would continue to discuss and provide useful information to help improve the future cooperation.

Thanking the City leader for the warm reception, Mr. Ahn Min Sik expressed his pleasure that the friendly cooperation between Korea and Viet Nam in general and between Korea and Da Nang in particular was increasingly developing and achieving many good results. The City has established friendly relations with five cities in Korea including Changwon, Daegu, Hwaseong, Seoul, and Gyeongsan. Currently, Korea is the largest investor in Viet Nam with more than 9,000 enterprises and total investment of over 70 billion USD. At the same time, Korea is also on the list of countries with the most investment in the City. Mr. Ahn Min Sik hoped that in the future, Korea and Da Nang would have more trade cooperation and investment.

As of October 2020, export turnover from Da Nang to Korea was estimated at 32 million USD while import turnover was estimated at 60 million USD. The main exported goods are garment products, aquatic products, oil filters–and air filters, finished rubber products, handicrafts, and children’s toys. The main imported goods are raw materials for rubber production, textiles, plastic resins, and medicines. As of November 2020, Korea has 233 projects in Da Nang with a total investment of more than 376 million USD mainly focused on the fields of real estate, industrial production, and services.