Hanoi (VNA) – Vietnam’s Ministry of Planning and Investment (MPI) and the Republic of Korea (RoK)’s Ministry of Small and Medium size Enterprises (SMEs) and Startups convened the first meeting of their bilateral cooperation committee in Hanoi on August 28, aiming to enhance collaboration between the two countries' SMEs and startups.

The formation of the cooperation committee follows discussions during Korean President Yoon Suk-yeol’s state visit to Vietnam in June 2023, where the importance of SME cooperation was highlighted. The committee is expected to foster mutual understanding among entrepreneurs and enhance collaboration in sectors where both countries have significant strengths.

During Prime Minister Pham Minh Chinh's visit to the RoK in July 2023, an MoU on SME and startup cooperation was signed, anticipated to create new opportunities for investment, trade, and business connections, contributing to innovation and sustainable development in both countries.

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