Samil CTS Vina Co Ltd of South Korea, which specialises in producing computers and computer peripherals, inaugurated a plant and a research and development (R&D) centre in the Yen Phong Industrial Park, northern Bac Ninh province on Friday. — Photo laodong.com.vn

The same day, representatives from the firm and the Viet Nam-Korea Technological Innovation Centre for Standards, Metrology and Quality (Incentech) under the Ministry of Science and Technology's Directorate for Standards, Metrology and Quality signed a memorandum of understanding (MoU) on enhancing co-operation in the future.

Under the MoU, Incentech will support Samil CTS Vina in implementing its projects in Viet Nam. The two sides will work closely to develop products and expand market in other ASEAN nations.

Speaking at the signing ceremony, Deputy Director of the Directorate Nguyen Nam Hai highlighted the significance of the events and increasing production and investment activities of South Korean enterprises in Viet Nam in recent times.

He said that his agency and the Korea Trade-Investment Promotion Agency also signed a co-operation agreement two months ago with a view to supporting the implementation of the Viet Nam-South Korea Free Trade Agreement (FTA), which was signed in 2015.

The formation of Incentech aims to promote trade co-operation between the two counties, he noted.

Co-operation between Incentrech and Samil CTS to set up the R&D centre will lay a foundation for the two sides to provide greater support for Vietnamese and Korean businesses, thus contributing to socio-economic development in the two nations, Hai stressed.

For his part, Commercial Attache of the Korean Embassy in Viet Nam Choi Jong Won said the opening of the plant and R&D Incentech-Samil centre in Bac Ninh will be the first steps for Samil CTS to enter into the Southeast Asian market.— VNS