Invest KOREA

Hold the "2024 Korea-Vietnam Startup Policy Roundtable" in Hanoi, Vietnam, on April 4.

The Ministry of Trade, Industry and Energy (Minister Ahn Duk-geun) and KOTRA (President Yu Jeong-yeol) will hold the "2024 Korea-Vietnam Startup Policy Roundtable" in Hanoi, Vietnam, on April 4. The roundtable has been organized to establish a cooperative channel between the those in charge of startup policy from Vietnamese government and the companies of the two countries and facilitate investment. It is expected to provide a chance to listen to the startup development strategy and policy direction from the Vietnamese government, while collecting the difficulties experienced by Korean startups in Vietnam, which will be delivered to the Vietnamese government.

The roundtable, hosted jointly by KOTRA and the Viet Nam Trade Promotion Agency (VIETRADE), will be participated by the Vietnamese Ministry of Industry and Trade (MOIT) and Ministry of Science & Technology, and about 150 startups from the two countries.

Vietnam, since emerging as Korea's third-largest trading partner surpassing Japan (USD 78.4 billion) in 2022, has maintained its position for the second consecutive year until last year. Korea currently invests USD 79.2 billion in projects in more than 9,300 areas in Vietnam, keeping its position as the largest investor in terms of cumulative investment inflow into Vietnam.

The Vietnamese start-up ecosystem has been also steadily growing with the government's continued support. As of 2023, there are about 3,800 start-ups. In 2022, 137 funds invested in Vietnamese start-ups, making a total investment of USD 634 billion.

The policy roundtable will be organized by the Korea Desk, which was jointly established by VIETRADE and KOTRA within the VIETRADE in August 2020 in order to promote trade between the two countries.

Lee Hee-sang, Regional Director General of Southeast Asia, said, "With the Korea-Vietnam trade reaching an all-time high, it is the right time for our startups to enter Vietnam," adding, "KOTRA will seek the possibility of cooperation between the two countries through this roundtable and support our startups in Vietnam to solve the difficulties they encountered there."



Source: KOTRA (2024.04.05.)