<중기중앙회, Supporting SME Entry into Vietnam... Hosting Business and Investment Webinar>

[Asia Economy Reporter Kim Bo-kyung] The Korea Federation of SMEs held the 'Korea-Vietnam SME Business and Investment Webinar' on the 20th in collaboration with the Vietnamese Ministry of Planning and Investment and the Embassy of Vietnam in Korea to support SMEs entering the Vietnamese market.

The event, held in the form of a webinar at the Federation of SMEs in Yeouido, Seoul, was organized to provide necessary information for entering the Vietnamese market amid difficulties companies face in obtaining local information due to COVID-19.

A representative from the Vietnamese Ministry of Planning and Investment introduced information needed by Korean companies for entering the Vietnamese market, such as market trends, methods for obtaining key certifications, and successful entry cases. Korean SMEs proposed to the Vietnamese Ministry of Planning and Investment support measures including ▲fast-track entry and exit for business personnel ▲simplification of administrative procedures for foreign investment.

Tran Duy Dong, Vice Minister of the Vietnamese Ministry of Planning and Investment, stated that they will actively collect opinions from Korean companies and support their entry into the Vietnamese market in various ways.

Kim Ki-moon, Chairman of the Federation of SMEs, said, "Vietnam was Korea's third-largest export destination last year, and Korea is Vietnam's largest investor," adding, "We plan to continuously support SMEs' overseas expansion by cooperating mainly with the four major trading partners: the United States, China, Japan, and Vietnam."