Trade co-operation for supporting industrial enterprises between Hà Nội and S.Korea

Friday, Oct 13, 2023 08:43

The two sides sign a Memorandum of Understanding on joint investment and production of semiconductor chips. — VNS Photo

Supporting industry enterprises in Hà Nội and South Korea joined hands to co-operate in investing and producing semiconductor chip equipment and components for the electronics industry.

An investment co-operation programme on manufacturing equipment, semiconductor components, electronic boards and precision mechanics for the electronics industry between N&G Group and Hà Nội Supporting Industry Business Association (HANSIBA), together with South Korean Cheongju Entrepreneurs Council (CEC) and CEC's Member Business Delegation, was held in Hà Nội on Wednesday.

Việt Nam has signed many FTAs with countries and organisations around the world.

The country has good infrastructure that meets the conditions for production in the field of semiconductor chips.

Việt Nam also has a young, qualified workforce that can ensure participation in the semiconductor chip production and supply chain.

In addition to preparedness, Vietnamese businesses enjoy the support of incentive and support policies from the State.

Therefore, Vietnamese businesses are in a good position to co-operate with international partners including Korea in the field of semiconductor chips.

At the event, HANSIBA and the CEC, N&G Group and CEC's Business Delegation shared specifically and extensively about the production and business situation of each party, and favourable opportunities for all parties, especially the great opportunity as Việt Nam is already a comprehensive strategic partner with major powers in the world, including South Korea and the US.

The parties clearly stated the directions for development co-operation and agreed to sign a Memorandum of Understanding on joint investment and production of semiconductor chips, electronic circuit boards, and precision mechanics for aerospace, marine economy, agriculture, forestry and fishery and civil products.

At the same time, they will together train high-tech workers, operate management and transfer technology to serve the semiconductor chip industry practically and effectively in the coming time.

A CEC representative said that its member enterprises include manufacturing and business enterprises with extensive experience and capacity to produce high-tech products, especially semiconductor chip products, supporting industries such as electronics, semiconductor components, electrical equipment, food and biology, and automation in South Korea and internationally.

Therefore, Vietnamese businesses in general and Hà Nội in particular would have many opportunities to co-operate and develop these fields together, said the representative. — VNS

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