Korean exhibitors resume activities in Vietnam after hiatus

Friday, 03/06/2022 18:06
The Republic of Korea (RoK)’s International Trade Association (KITA) and the Seoul-based Convention and Exhibition Centre (COEX) have said they will resume overseas exhibitions after an almost-three-year hiatus caused by the COVID-19 pandemic, reported Vietnam News Agency.

Visitors to the Vietnam International Maternity - Baby & Kids Fair opened in HCM City on June 2 (Photo: dangcongsan.vn)

Those activities started with the Vietnam International Premium Products Fair (VIPREMIUM) and the 10th Vietnam International Maternity - Baby & Kids Fair (Vietbaby Fair), both opened in Ho Chi Minh City on June 2.

About 150 leading companies in beauty, health, food, and household products are taking part in VIPREMIUM 2022. Meanwhile, Vietbaby Fair sees the participation of over 100 businesses from nine countries and territories that make products for newborn babies and toddlers.

Due to the pandemic, overseas fairs held by COEX and KITA took place both in person and via videoconference in 2020 but completely online in 2021.

COEX and KITA are planning the Korea Smart Electric & Energy Fair (KOSEP) in July, the Vietbaby Fair in Hanoi in September, a franchise and retail show along with Coffee Expo Vietnam in November, and many other activities, they said.

Kim Hyun-cheol, head of the global cooperation division at KITA, noted though the Vietnamese economy faced certain stagnation in 2021 due to COVID-19, it is still attractive to Korean exporters thanks to low labour cost, simplified administrative procedures, its participation in many free trade deals, and diverse supply chains.

They plan to make use of these events as stepping stones for Korean small- and medium-sized enterprises to enter the Vietnamese market, he added.

Vietnam Airlines resumes Hanoi-Busan route

Illustrative image (Source: VNA)

Vietnam Airlines has become the first foreign carrier to resume flights to Busan since the Republic of Korea (RoK) restricted flights due to the COVID-19 pandemic, reported Vietnam News Agency.

Flight VN426 departed from Hanoi with 148 passengers on board, and another run by the national flag carrier returned from Busan with 175 passengers.

The airline is operating three flights per week on the route every Monday, Tuesday and Friday.

As from July, it will also reopen the Ho Chi Minh City-Busan route with four flights per week, and plans to launch flights connecting Hanoi, HCM City, Da Nang and Nha Trang with Seoul.

Wide-body Boeing 787 aircraft will be used on the routes.

Tickets are available at www.vietnamairlines.com, booking offices and sale agents of Vietnam Airlines nationwide.

Vietnam, Cambodia target 10 billion USD bilateral trade in 2022

The first quarter of this year witnessed total two-way trade turnover between the nation and Cambodia reach nearly 3.4 billion USD, with the figure anticipated to reach over 10 billion USD for the entire year, reported VOV News.

Cambodian Prime Minister Hun Sen. (Photo: VOV)

Both sides officially established diplomatic relations 55 years ago in 1967, marking a new chapter in the relationship and creating momentum to ramp up co-operation, especially in the field of economics and trade. This can be viewed as a bright spot in bilateral relations, thereby contributing to the two countries’ development and prosperity.

Despite facing the negative impact of the COVID-19 pandemic and its ongoing complicated developments since 2020, the two countries have made all-out efforts to cope with the pandemic. As a result, bilateral trade turnover has recorded many impressive results.

According to data provided by the General Department of Vietnam Customs, total two-way trade turnover reached more than 5 billion USD in 2020, and over 9 billion USD in 2021, with this figure is projected to hit 10 billion USD this year.

Cambodian Prime Minister Hun Sen put the sharp increase in trade turnover between the two nations at the height of the COVID-19 pandemic down to the foundation of sound bilateral relations.

During the period affected by the COVID-19 pandemic, Cambodian exports to the nation expanded by more than 300%. Therefore, it can be said that the two economies are complementary for each other.

As a means of further ramping up economic, trade, and investment co-operation, the two governments have agreed to build and implement an open door mechanism for import and export activities, international travel, and labour co-operation. This is along with customs procedures as well as entry and exit and trade regulations, all of which are aimed at facilitating greater investment by businesses in each other's respective markets.

The two sides have also revamped preferential mechanisms and policies for firms in terms of labour training, production and business expansion, investment, and trade promotion by organising forums and fairs, along with diversifying Vietnamese investment activities in Cambodia and vice versa.

Currently, the nation has roughly 190 valid investment projects in Cambodia, with a total registered capital of nearly 3 billion USD, duly ranking fifth among countries investing in the neighbouring nation.

Vietnam primarily invests in the Cambodian agricultural sector. (Photo: VOV)

The country chooses to primarily invest in the agricultural sector, accounting for nearly 70% of total registered capital, with the rest coming in fields such as finance, banking, insurance, telecommunications, healthcare, construction, tourism and hotels, real estate, and other services.

In contrast, Cambodia currently has 21 investment projects in the nation with total capital of roughly 64 million USD.

However, according to Vu Chi Thanh, head of the Economics section of the Vietnamese Embassy in Cambodia, besides these achievements, economic, trade, and investment co-operation between the two countries continue to face certain challenges and difficulties.

For example, there is no clear consensus from the central to the local level on the process of carrying out administrative procedures, while the support and orientations provided for business activities lacks a true connection.

As a means of ensuring the effectiveness of bilateral co-operation moving forward, the two sides need to implement a number of solutions in a bid to further promote economic and trade co-operation, with a particular focus on ensuring the trade of goods, thereby creating favourable conditions for border trade activities. These efforts should serve to intensify business connection activities, he went on to say.

Furthermore, the country should seek to outline a key investment plan in order to turn Cambodia into a manufacturing and raw material supply centre under the 1+1 model to take advantage of its comparative advantages in terms of large land fund as well as the labour resources available in Cambodia.

Efforts should be taken to strengthen the economic connection between provinces bordering the two countries and building bonded warehouses on border gate areas to ensure timely supply of goods.

Moving forward, both sides will continue to promote and constantly improve the efficiency of co-operation in the fields of economics, trade, and investment so as to create new driving forces for the development of each country. This will help step up the comprehensive co-operation between the two sides in a more substantive and effective manner.

Vietnam to use new passport form from July 1

Vietnam will use new passport form from July 1. (Photo: NDO)

The Ministry of Public Security will use a new passport form from July 1, 2022, reported the Vietnam Government Portal (VGP).

The move aims to implement Circular 73/2021/TT-BCA of the Ministry of Public Security on passport specimens.

The new passport form will be printed with Vietnamese spectacular sceneries and cultural heritages, namely Ha Long Bay, Hue Citadel, Hoi An Ancient Town, My Son Sanctuary, Nha Rong Habour, Lung Cu Flag Tower, and so on.

Apart from promoting the images of Vietnam to the outside word and uphold the tradition, history, geography and culture of the country, the new passport form is expected to ensure technical safety and prevent counterfeiting.

From June 6 to 31, the Ministry will only issue ordinary passports for urgent cases, including those with medical treatment certificates, working decisions, or plane tickets.

The same day, the Ministry of Public Security started launching online issuance of ordinary passports (without electronic chips) to Vietnamese citizens from June 1, according to the Immigration Department of Vietnam.

Vietnamese citizens can access http://dichvucong.gov.vn or http://dichvucong.bocongan.gov.vn to make an online declaration, pay the fee and receive their passports by post or collect them at immigration offices.

Previously-issued passports are still valid until the dates of expiration which are printed on the passports./.