At the conference between Faculty of International Business and Economics and Ehwa Business School of Ehwa Womans University
In the afternoon of 22nd Oct., 2013, Faculty of International Business and Economics (FIBE), VNU-UEB and Ewha Business School of Ehwa Womans University, Korea jointly organized the seminar “Korea Economy and Opportunities to Invest in Vietnam”
The seminar was chaired by Dr. Nguyen Thi Kim Anh - Head of Department of World Economy and International Economic Relations, FIBE and Prof. Seong Kook Kim – Dean of Ehwa Business School, Ehwa Womans University.
30 scholars from Ehwa Womans University and Korean woman entrepreneurs, lecturers of FIBE and some lectures from other faculties of VNU-UEB attended the seminar.
Opening the seminar Dr. Nguyen Anh Thu – Accossiate Dean of FIBE had an openning speech to welcome the participants and expressed the important of relationship between VNU-UEB and Ehwa Womens University, Korea.
Dr. Nguyen Thi Kim Anh then had a presentation on the overview of Vietnam’s economic development and investment environment. Presentation provided substantial information and updated data on socio - economic growth in Vietnam so far. Dr Nguyen Thi Kim Anh emphasized that Vietnam’s economic growth strategy has the integration of the vision to become an industrial nation by 2020 and sustainable development, harmonizing aspects of economy, society and environment.
Related to investment environment, FDI in Vietnam has been grown since the reform period, except for the global economic and financial crisis in 2008-2009. FDI in Vietnam has focused on the manufacturing and real eatate sectors in the form of 100% foreign owned. In 2012, South Korea was the 3rd largest FDI investor in Vietnam, after Japan and Taiwan.
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Dr. Nguyen Thi Kim Anh (on the right) made presentation at the conference
The presentation also analysised 4 main factors of promoting FDI into Vietnam which include the market conditions (average income, market scale, growth, and market penetration), resources (natural resources, abundant and cheap labor), efficiency (competitive advantage, and regional production networks...) and strategic assets (skilled labor, and R&D activities). In addition, the State also made favorable conditions for tariff policy, economic zones, high-tech, export processing zones… to attract FDI from outside.
The next presentation of Dr. Kim Seong Kook introduced the historical development and current achievements of the Korean economy, and analyzed characteristics to establish and consolidate the Korean economy as it has been today. At present, Korea is the 12th largest economy, the 6th biggest export country and the 10th biggest import country in the world, and the most industrialized nation in OECD (Organization for Economic Co - operation and Development). In order to have such a high competitiveness, Korea's economy has followed export-driven policy, kept government debt at low level, and provided high investment in industrial production with big corporations such as Samsung, LG and POSCO.
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Prof. Seong Kook Kim, Dean of Ehwa Business School, Ehwa Womans University
After two presentations, scholars, lecturers and entrepreneurs at the conference had fruitful exchanges and discussion about the successful factors of the Korean economy and investment environment in Vietnam and then drew out judgments about investment opportunities and economic cooperation between two countries at the present and in the future.
Closing the seminar, Dr. Nguyen Anh Thu on behaft of FIBE, VNU-UEB gave special thanks to Ehwa Womans University’s scholars and Korean entrepreneurs and hoped that there would be more opportunities for academic exchange between the two sides in the future.