(MPI) - Minister of Planning and Investment Nguyen Chi Dung hosted a reception for Minister of Small and medium-sized enterprises and Startups (MSS) of the Republic of Korea (RoK) Lee Young in Hanoi on June 23, during which the two minister affirmed to boost the connectivity between SMES and startups of both countries, contributing to strengthening the comprehensive cooperation between Vietnam and the RoK in general, and two ministries in particular.

At the reception. Photo: MPI

Minister Dung hailed the positive outcomes of the Vietnam-RoK business forum at the same day that attracted various enterprises of the two countries, with many important documents and agreements were signed, showing the interest and confidence of Korean investors in the business and investment environment of Vietnam.

Vietnam hoped to receive the RoK’s experience in the implementation of  policies and programs to support SMEs and innovative startups, based on the principle of supporting, complementing each other. The minister asked Korean SMEs operating in Vietnam to work harder, utilise their potential to help Vietnamese SMEs participate in the global value chain.

As a state management agency on business development, the MP has consulted and built policies to support the development of enterprises and SMEs, and effectively implemented the enterprise digital transformation programme.

According to the minister, Vietnam National Innovation Centre (NIC), an unit under the MPI, is set to support and develop the nation’s startup and innovation ecosystem, contributing to renewing the growth model based on science and technology. He suggested Korean and Vietnamese enterprises to cooperate to support SMEs, and come up with new initiatives and products.

Lee, for her part, expressed her delight at the high economic growth  of Vietnam and its abundant and well-trained workforce. She hoped that businesses of the two countries will continue to strengthen their cooperation, adding that Vietnam is a propelling destination for trade and investment activities of Korean SMEs.

She said many Vietnamese startups are interested in Korean market and participated in the startup competition for foreigners. The RoK also plans to support Vietnam’s high quality human resources in the field of information technology to work in Korean startups with an aim of developing the two countries’ startup ecosystem.

The Korean MSS is also having a project in Vietnam based on its experience in building an online export platform, and will send officer to attend a policy training course in the RoK in the near future, she added.

Minister Dung highly valued the MSS’s activities and plans to support Vietnam’s startup ecocsystem, adding that there remains rooms for stronger cooperation and bring mutual benefits. His ministry will continue to work closely with the MSS to further strengthen the cooperation relationship between SMEs and startups of the two countries./.

Bao Linh

Ministry of Planning and Investment