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The Republic of Korea and Can Tho strengthen economic cooperation
Date: 24/08/2020

On the morning of August 20th, Leaders of Can Tho city had a working session with the Ministry of Foreign Affairs and the Ambassador of the Republic of Korea to Vietnam Park Noh-Wan, on future cooperation between Can Tho city and the Republic of Korea (RoK).
At the working session.

Speaking at the meeting, Mr. Tran Quoc Trung, Member of the Party Central Committee, Secretary of the Party Committee of Can Tho city, presented the city's strengths and potentials as well as the cooperation between Can Tho and RoK. He said that friendship and economic cooperation between the two sides in recent years have been constantly strengthened through many practical programs and activities, thereby achieving many positive, noteworthy results.

Among 22 countries and territories, the Republic of Korea is now the largest strategic partner and foreign investors of Can Tho city with 14 FDI projects, worth a total of 268 million USD. Currently, Can Tho has two projects using official development assistance (ODA) from RoK, namely the Korea-Vietnam Incubator Park and Supporting Vietnam's Agricultural Mechanization in Can Tho city, worth a total of 19.6 million USD.

In terms of the two-way trade, the Can Tho - South Korea export turnover exceeded 14 million USD last year and reached 2.9 million USD in the first half of 2020 while the import turnover reached 3.85 million USD in 2019. Can Tho mainly exported to the RoK rice, fishery, agricultural products, garments, and pharmaceuticals while imported pharmaceutical materials, fabrics and veterinary medicines, etc. Can Tho also strengthens socio-cultural exchanges with the RoK, especially the friendship of Can Tho city and Jeollanamdo province.

Through a number of achievements by both sides, Mr. Tran Quoc Trung hoped to receive more support and cooperation from the Ministry of Foreign Affairs, the Korean Ambassador and the RoK Consulate General in Ho Chi Minh City as well as Korean investors to further boost and sustain the development of Can Tho city. In particular, he called for Korean investment in various areas, including hi-tech, support industries, logistics, trade, and tourism.

Speaking at the meeting, Mr. Park Noh Wan, Ambassador of the Republic of Korea to Vietnam, highly appreciated the development of Can Tho city in recent years. He said that the first Mekong-Republic of Korea Summit in Busan in 2019 marked an important step in the cooperation between the RoK and countries in the Mekong region, including Vietnam. On that basis, Ambassador Park Noh Wan believed that more and more Korean firms have shown their interest in Can Tho and the Mekong Delta at large as the region holds great potential for economic development and Can Tho is a gateway to the delta. Therefore, he expressed his wish to open more classes providing Korean-language lessons and proposed the establishment of a center for sending Vietnamese guest workers to the RoK.

Mr. Park Noh-Wan also revealed that Vietnam and the RoK would co-host a Korea-Mekong Delta business forum in Can Tho city in October. This event is expected to attract Korean investors to Can Tho city and the Mekong Delta. Mr. Park Noh-Wan also suggested organizing a meeting between 13 provinces and cities with Korean companies in Can Tho to further discuss the cooperation, trade, and investment between the two sides.

On the same day, Mr. Le Hoai Trung, Member of the Party Central Committee, Deputy Minister of Foreign Affairs, Chairman of the National Border Committee, worked with the leaders of Can Tho city on the international and regional situation, the recent Vietnam's foreign affair activities, and important policies of Vietnam on the East Sea issue. He emphasized that peace, cooperation, and development remain the prevailing trend.

At the meeting, Deputy Minister of Foreign Affairs Le Hoai Trung highly spoke of the strategic partnership between Vietnam and the RoK and mentioned Can Tho as an emerging destination for foreign and domestic investors. He hoped that through the meeting the bilateral relationship between Can Tho and the RoK would be strengthened. Moreover, a new wave of investment from South Korean companies will land in Can Tho and the Mekong Delta in the coming time. Mr. Le Hoai Trung said that the Ministry of Foreign Affairs will actively support the economic cooperation between Korea and Can Tho city.


Hoang Dat



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