Hanoi (VNA)– A seminar to promote investment of Vietnam and the Republic of Korea (RoK) inrobotics industry and automation took place in Hanoi on April 26.

The event wasorganised by the Foreign Investment Agency under the Ministry of Planning andInvestment, in cooperation with the Vietnam Association for Supporting Industriesand the ASEAN-Korea Centre (AKC).  

The seminar wasdesigned to help domestic businesses to meet with their RoK counterparts andprovide information for cooperation in robotics industry and automation.

It also helped Vietnameselocalities to call for investment from the RoK and seek business opportunitiesin the two countries, as Vietnam and the RoK aim to bring bilateral trade to100 billion USD in 2020.

The RoK is now amongmost important partners of Vietnam as the largest investor, the second leadingofficial development assistance provider and the third biggest trade partner.

The Northeast Asiannation has to date launched 7,700 projects in Vietnam with a combinedregistered capital totaling 64 billion USD, while bilateral trade hit 62.6billion USD in 2018.

The Vietnam-Korea FreeTrade Agreement (VKFTA), which took effect in 2015, has opened various chancesin trade and investment. Vietnam has encouraged investment of RoK firms in thefields of infrastructure, high technology, renewable energy, along withtechnology transfer, supporting industry development, helping Vietnamese businessesjoin the global manufacturing and supply chain.

Speaking at the event,Deputy Minister of Planning and Investment Vu Dai Thang said Vietnam hasrecorded numerous positive results in economic development with high and stablegrowth rate. The country also boasts favourable investment incentives andimproving business climate, he stressed.

Vietnam hasimplemented a science and technology development strategy for the 2011-2020period and prioritised achievements of the Fourth Industrial Revolution. As aresult, the country has seen an increasing demand of businesses for roboticsand automation to enhance competitiveness and international economicintegration.

Thang said thatVietnam has gradually become a strategic manufacturing hub of international corporations.Up to 130 foreign partners have registered to do business in Vietnam, with combinedcapital worth 346.5 billion USD. Of the figure, more than 180 billion USD werepoured into key economic sectors such as manufacturing industry, infrastructuredevelopment, construction, energy, services and tourism, said the official.

The event drew theparticipation of about 50 RoK businesses, including 11 in manufacturing, robotproduction and automation, Secretary-General of the AKC Lee Hyuk said, addingthat those firms expect to share information, technology and seek partners inrobot application in Vietnam.

Participants discussedand assessed trade-investment cooperation between Vietnam and the RoK over thetime and proposed measures to tackle difficulties, especially in roboticsindustry and automation. They also put forward trends and orientations tofurther promotion the bilateral cooperation in the coming time. -VNA