Under a memorandum of understanding signed Tuesday, the group would aid the two countries’ governments and businesses to keep abreast of investment trends and opportunities and laws and regulations. It will focus on policies in six areas: agriculture and services; trade and investment; information technology; protection of domestic industry; energy and mining; and construction and infrastructure.

The group, comprised of officials from government, chambers of commerce and industry, and business, will meet annually. The MoU was signed by Vietnam’s Minister of Planning and Investment Vo Hong Phuc and visiting Korean Minister of Industry, Trade and Energy Kim Young-ju. During his visit, Kim met Prime Minister Nguyen Tan Dung who promised to facilitate South Korean businesses’ long-term investments in the country.

A Vietnam-RoK business forum was also held in Hanoi Tuesday, gathering executives from 450 businesses from both countries. It was part of activities held to mark the 15th anniversary of the establishment of diplomatic ties. RoK investment in Vietnam stood at US$7.8 billion last year, representing 18.5 percent of total FDI into the second fastest-growing economy in Asia. Source: TTXVN, VNN