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Wednesday, August 17 2022
Tiếng Việt
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Date 15/04/2022-16:52:00 PM
The Memorandum of Understanding Signing Ceremony between the Small and Medium Enterprise Development Fund and Korea Credit Guarantee Fund
(MPI) - On April 15th 2022, Deputy Minister Tran Duy Dong worked with Chairman and CEO of Korea Credit Guarantee Fund (KODIT) Yoon Dae-hee and witnessed the Memorandum of Understanding (MoU) signing ceremony between the Small and Medium Enterprise Development Fund (SMEDF) and KODIT.
Deputy Minister Tran Duy Dong (right) and CEO of KODIT Yoon Dae-hee. Photo: MPI

Deputy Minister Dong noted that the Vietnam - Republic of Korea (RoK) relations are in the best-ever development stage, showing through many high-level visits of Vietnam to RoK. During the working visit to RoK with President of the National Assembly last December, the Ministry of Planning and Investment held some bilateral meetings and promoted investment with many RoK businesses, affirming once again the two countries’ good relations towards the 30th anniversary of Vietnam - RoK diplomatic ties.

RoK has been the largest foreign investor in Vietnam with several large-scale projects that focus on the country’s priorities for development. Highly valuing KODIT’s credit guarantee activities for businesses and support for SMEs, the deputy minister said that Vietnam has approximately 800,000 enterprises and SMEs accounts for 96% of those.

The Vietnamese government, ministries and sectors pay attention to the development of SMEs as the Law on support for SMEs was adopted by the NA to promote the activities of businesses in some priority areas.

The MoU is expected to share experiences in developing credit guarantee policies, mechanisms and policies so as the activities to support SMEs will be effective. DM Dong suggested that the two sides jointly promote the growth of Vietnamese SMEs so that they will have advantages in the production that meet Korean standards, bringing cooperation beneficial to both sides.

The MoU signing ceremony. Photo: MPI

For his part, Yoon Dae-hee said that his visit will be an opportunity to foster cooperation in the coming time. Right after COVID-19 was put under control, Vietnam is the first foreign country that he has visited. He thanked the Vietnamese Government for supporting the fund in opening its representative office in Vietnam.

KODIT encouraged businesses to innovate in technology so he noted the two sides need to closely coordinate to promote supporting industries. He suggested Vietnam continue to pay attention and create optimal conditions not only to stabilize production for RoK businesses but also to attract more of them to invest in Vietnam.

DM Dong agreed with KODIT Chairman’ suggestions and stressed that the development of SMEs will bolster supporting industries and high technology, which is in line with Vietnam’s national development direction. The MPI will receive RoK businesses’ comments to remove difficulties, obstacles and create the most favorable business environment./.

Bao Linh
Ministry of Planning and Investment

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