Deputy Prime Minister Nguyen Chi Dung had a meeting with the delegation of the Korea Federation of Small and Medium Business (KBIZ), led by Mr. Kim Ki Mun, Chairman of KBIZ on August 22.
At the meeting, Deputy Prime Minister Nguyen Chi Dung proposed KBIZ strengthen connections between South Korean’s and Vietnam’s SMEs, helping Vietnamese firms integrate more deeply into South Korea’s value chains.
Deputy Prime Minister Nguyen Chi Dung also encouraged KBIZ to widely promote Vietnam’s business and investment opportunities, attracting more South Korean enterprises to invest or expand operations in strategic sectors such as high-tech industrial parks, the digital industry (AI, semiconductors), renewable energy, smart cities, cultural and entertainment industries.
The Deputy Prime Minister also suggested that KBIZ collaborate with Vietnamese partners to share experiences and foster ecosystems in science, technology, innovation, and digital transformation, while encouraging South Korean companies to engage in research projects, high-quality workforce training, and technology transfer.
In particular, support through scholarships and specialized training programs in fields such as semiconductors, artificial intelligence (AI), and liquefied natural gas (LNG) was highlighted as a practical way to reinforce scientific and technological cooperation between the two countries.
“KBIZ should further expand its presence and activities in Vietnam, translating the Memorandum of Understanding into concrete programs, plans, and actions that deliver mutual benefits,” the Deputy Prime Minister emphasized.
According to the Vietnam Association of Small and Medium Enterprises (VINASME), SMEs currently account for more than 97 per cent of total enterprises in Vietnam. Many Vietnamese businesses have mastered technology and production processes, building the capacity to engage in equal partnerships with foreign investors, including cooperation with South Korean companies in Vietnam.
Along with that, there are currently about 10,000 South Korean enterprises operating in Vietnam, of which 90 per cent are SMEs. These businesses have been growing steadily in both number and scale, diversifying their investment sectors, and making tangible contributions to Vietnam’s socio-economic development.
For his part, Mr. Kim Ki Mun affirmed that he had fully taken note of the Deputy Prime Minister’s guidance and pledged that KBIZ would make every effort to strengthen its role as a “bridge” between the SME communities of both nations.
He added that KBIZ is ready to promote practical cooperation programs, from exploring and introducing investment opportunities in Vietnam to organizing training courses and specialized workshops on technology transfer, management, and venture capital and startup fund operations.
In addition, KBIZ will share expertise in identifying promising enterprises and facilitate connections between Korean venture capital funds and angel investors with Vietnam’s startup and innovation ecosystem.
Google translate