Hanoi hosted a July 18 seminar discussing measures to boost industrial cooperation between Vietnam and the Republic of Korea (RoK).
The event, held by the Vietnam Academy of Social Sciences and the Korea Institute for International Economic Policy, attracted a large number of senior officials, researchers, and scholars representing both countries.
The participants focused on industrial policies, economic zones, commercial networking, and vocational training.
They also debated workarounds for the ongoing impact of the global financial crisis.
Delegates complimented Vietnam’s national industrialisation and modernisation achievements, highlighting its policies incentivising sea and border gate-based economic development.
They noted Vietnam’s progress is still hampered by subsidies, outdated technology, and a lower quality labour force.
Participants also warned Vietnam is one of the countries most vulnerable to climate change, urging a renewed emphasis on alternative energy development.
Dr Nguyen Binh Giang, Deputy Director of the World Economics and Politics Institute, stressed there is plenty of opportunity for Vietnam and the RoK to cooperate in such areas as information technology, automobile assembling, garments and textiles, footwear, and support industries.
Kyung Hee University Dr. Bokyeong Park said the Vietnamese government should offer small and medium-sized businesses more support as they strive to reform their production structures and apply recent technological advances.