“Bilateral trade in the first three quarters of this year reached 47.2 billion USD and we expect that the figure for the whole year will exceed 50 billion USD, increasing by 100 times from 0.5 billion USD in 1992,” Jaehong said.
Investment by Korean firms in Vietnam has also increased significantly, rising to 55.8 billion USD as of September, making it the largest foreign investor in Vietnam, he added.
On the occasion of the APEC 2017 Summit held in Da Nang and on the occasion of the 25th anniversary of diplomatic ties between Vietnam and the Republic of Korea, the Korean Ministry of Trade, Industry and Energy (MOTIE) and the Korea Trade-Investment Promotion Agency (KOTRA) co-organised the Vietnam-Korea Business Partnership Forum, hoping the event would create opportunities for businesses of the two countries to co-operate in trade, technology, supporting industries, mergers and acquisitions (M&A), intellectual property rights and social responsibility, he said.
Jaehong also said there were many Korean businesses interested in M&A deals in Vietnam. He hopes that the two countries can co-operate well in M&A activities, through which the two sides can collaborate in technology transfer and joint venture investment.
“I also expect the two sides can co-operate in services and education,” Jaehong added. “I believe that the co-operation between the RoK and Vietnam in all fields will significantly contribute to the development of the two countries.”
The forum comprised a series of events, including one-on-one business meetings between Vietnam and Korean enterprises, gathering 100 Vietnamese companies and 17 Korean firms operating in the fields of information technology, electrical machinery, components automation, chemicals, construction equipment and industrial materials.
The forum also featured an Infrastructure Technology Road-show, helping Vietnamese and Korean companies discuss technology transfer and technical co-operation in the field of transport infrastructure building technology.
In addition, the Vietnam-Korea M&A Seminar held within the framework of the event brought together private investment professionals from Korea, private equity fund managers and cross-border M&A advisory firms.
The seminar is designed to give participants the opportunity to learn about private investment opportunities in Vietnam and investment demand and strategies of Korean investors, to meet with Vietnam investees and Korean investors and make connections with industry professionals.
Source: VNA
(seafood.vasep.com.vn) The US remains Vietnam’s largest single market for shrimp imports, accounting for 20% of Vietnam's total shrimp exports globally. As of October 15th, 2024, Vietnamese shrimp exports to the US reached nearly 600 million dollas, marking a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to Vietnam Customs, pangasius exports to Canada reached over 1 million USD in the first half of October 2024, a 33% decrease compared to the same period last year. However, by October 15, 2024, total pangasius exports to Canada had reached 32 million USD, reflecting a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) Cà Mau is accelerating its digital transformation, developing green industries, and promoting high-tech processing of agricultural and aquatic products, with a focus on sustainable economic growth and environmental protection.
(seafood.vasep.com.vn) The Dong Thap Pangasius Festival 2024, themed 'Dong Thap Pangasius: Green Journey - Green Value', will take place on November 16-17 in Hong Ngu City.
The positive business momentum in the domestic seafood sector could last into the first half of 2025, according to experts.
(seafood.vasep.com.vn) In the first three quarters of 2024, brackish water shrimp production exceeded 1.1 million tons, with export revenue reaching $2.8 billion. The seafood industry has set a target of $4 billion for shrimp exports for the entire year.
While the price of 1 kg of shrimp hovers around 20 USD, the value of 1 kg of chitosan—extracted from shrimp—can soar to 500 USD. This highlights a significant challenge within the seafood processing industry.
(seafood.vasep.com.vn) By October, Vietnam's shrimp exports had generated nearly $3 billion, reflecting an increase of over 10% compared to the same period last year. Shrimp remains the leading commodity contributing to the export turnover of the entire seafood industry.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX VN - HoSE: FMC) concluded Q3/2024 with significant growth in revenue. Specifically, Sao Ta Food recorded revenue of VND 2,845 billion, a 58.6% increase year-on-year. The company's profit after tax reached VND 95 billion, up 6.2%.
VASEP's Seafood Export Report for the third quarter of 2024 provides a comprehensive overview of Vietnam's seafood export performance in the first nine months, with impressive results reaching $7.2 billion—an increase of 9% over the same period last year. In the third quarter alone, seafood exports grew by 15%, totaling $2.8 billion. This growth is attributed to a recovery in demand and prices in key markets such as the U.S. and China, as well as the competitive advantage of value-added products in markets like Japan and Australia.
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