The first Overseas Vietnamese Economic Forum (OVECOF) will take place at the Songdo Convensia Convention Centre in Incheon, the Republic of Korea (RoK), from June 6-9.

The Songdo Covensia Convention Centre in Incheon where the first Overseas Vietnamese Economic Forum will take place. (Photo: thuonghieuvaphapluat.vn)

Organised by the Business Association of Overseas Vietnamese and the Vietnamese Business Association in the RoK (VIBAK),  the event is expected to attract 300 Vietnamese businesspeople and hundreds of Korean partners.

The event will include exhibitions and other activities designed to promote trade, exchange and technology transfer, and build a network between domestic and overseas Vietnamese enterprises and Korean firms, said VIBAK President Tran Hai Linh.

The forum will also introduce projects and connect potential investors with domestic enterprises as well as create an opportunity for enhancing exchanges with top professionals and corporations from the RoK, Linh said.

Enterprises operating in the fields of agriculture, tourism, service, high tech, import-export and finance will join trade promotion activities and economic seminars.

Two-way trade between the nations has skyrocketed from a modest 500 million USD in 1992 to 60 billion USD in 2017 and approximately 63 billion USD in the last 11 months of 2018.

Viet Nam and the RoK aim to boost bilateral trade turnover to 100 billion USD by 2020.

The RoK is now the biggest foreign investor in Viet Nam with total direct investment reaching 64.3 billion USD as of April 2019, accounting for 18.4 percent of the nation’s total foreign direct investment.

(Source: VNS/VNA)