Invest KOREA

On Sep. 21, Seminar on the investment promotion in response to supply chain reorganization to be launched by partnering with the Vietnam Trade Promotion Agency (Vietrade)
Introduce the Vietnamese government's supply chain strategy along with investment locations, and have one-on-one counseling sessions with 12 industrial complexes

KOTRA (President & CEO Yu Jeoung-yeol) and Vietrade (President Vu Ba Phu) co-host the '2022 Vietnam Investment Promotion in Response to Supply Chain Reorganization' on Sep. 21. The seminar will be joined by around 100 domestic companies engaging in electronics, textiles, or other promising sectors to advance into the Vietnamese market. And it is expected to offer insights into the Vietnamese market to domestic enterprises by introducing △ a presentation of strategies for responding to the supply chain reorganization and investment promotion in Vietnam △ One-on-one counseling sessions for entering the Vietnamese industrial complex.

At the investment presentation, officials from Vietrade and four local provinces* are to participate and give a presentation of the Vietnamese government's response measures to the reorganization and the major incentives trends.
* Tỉnh Thái Bình, Tỉnh Ninh Thuận, Nghệ An, and Tỉnh Vĩnh Phúc

In the meantime, the supply of components was cut off due to supply chain disruption caused by the protracted pandemic, US-China conflicts, and the Russia-Ukraine war. Against this backdrop, individual countries review their supply chains and seek to diversify global manufacturing bases. As the countries continue to do so, Vietnam has come to take a more prominent role in terms of the worldwide supply chain and foreign direct investments in Vietnam have recovered from the investment sluggishness owing to the pandemic. 

At the one-on-one counseling sessions, managers from the main 12 industrial complexes located across Vietnam will directly present their location environment and answer questions pertaining to enterprises' investment incentives, such as tax deductions and benefits by item.

Moreover, KOTRA plans to conduct promotional activities to host Busan's bid to host World Expo 2030 at the event attended by Nguyen Vu Tung, Vietnamese Ambassador to South Korea; Vietnam's local province officials; and Vu Ba Phu, President of the Vietrade.

Jang Sang-hyun, head of the KOTRA's Invest KOREA, said, "Vietnam is Korea's fourth largest trading partner and has gained a foothold as the biggest trading partner in ASEAN," adding, "at such a pivotal moment when supply chains are aggressively reorganized, we will help domestic companies to better understand the Vietnamese market via the event, and to boost their competitive edges globally."



Source : Invest KOREA (2022.09.21.)