On the afternoon of November 22nd 2018, the Korean Industry Technology Association (KOITA) delegation led by Mr. Kim Lee Hwan, Vice Chairman of the Association and several Korean enterprises made a visit to Binh Dinh.
Image of the working session
Meeting with the delegation, Chairman of the Provincial People's Committee (PPC), Mr Ho Quoc Dung, Vice Chairman Nguyen Phi Long and leaders of some concerned departments and agencies. The visiting delegation consisted of Mr. Nguyen Van Thuong, First Secretary of the Vietnamese Embassy in Korea, Mr. Nguyen Dang Quang, Second Secretary of the Vietnamese Embassy in Korea.
At the meeting, PPC Chairman Ho Quoc Dung and Mr. Kim Lee Hwan, Vice President KOITA signed a Memorandum of Understanding (M.O.U) between the People's Committee of Binh Dinh Province and the Korea Industry Technology Association. Accordingly, the common goal is that the two sides will jointly establish strategic cooperation based on the principle of "mutual support, long-term cooperation and mutual development"; connecting and promoting cooperation between Korean enterprises and Binh Dinh’s enterprises in Vietnam; actively supporting Korean companies to establish manufacture facilities in industrial parks in Binh Dinh and supporting Binh Dinh companies to develop investment and business activities in Korea.
The M.O.U has the following section:
"a) Both Parties jointly organize and actively support activities, business trips, meetings with each other to promote effective cooperation.
b) Two sides actively share information and experiences in the areas of cooperation; make efforts to seek cooperation opportunities, promote the development of investment and business activities of Korean and Vietnamese enterprises in the legal framework.
c) Two sides actively advise and support procedures for each other's businesses if there is any need to invest, do business and strive for the development of Korean-Vietnamese enterprises; promote technology exchange and investment cooperation. ”
Also according to the M.O.U, at the beginning of each year, two parties will develop and reach agreement on the content of specific implementation plans in the year. A review is performed after five (05) years of implementation.