Gyeonggi Province to knock on top 3 export market, Vietnam
Createdd 2016-07-21 Hit 493
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Provincial government recruiting 80 companies online by July 15 to
participate in G-FAIR Ho Chi Minh
Gyeonggi Province is recruiting 80 small and medium enterprises to
participate in G-FAIR Ho Chi Minh, which runs from November 22 to 23 at the GEM
CENTER in Ho Chi Minh City, the economic center of Vietnam. Photo: G-FAIR ⓒ Gyeonggi G-News
Gyeonggi
Province is recruiting 80 small and medium enterprises to participate in G-FAIR
Ho Chi Minh, which runs from November 22 to 23 at the GEM CENTER in Ho Chi Minh
City, the economic center of Vietnam.
G-FAIR,
an overseas exhibition series for outstanding Gyeonggi products, is geared to
help small and medium enterprises of the province secure overseas markets. G-FAIR
will take place in Ho Chi Minh City for the first time this year due to the emergence
of the Vietnamese market as one of Korea’s top 3 export and investment destinations (after
China and the United States) following a 27% increase in exports.
Of particular
note, proven buyers who have been vetted by the Gyeonggi Business Center (GBC)
will participate in the event; therefore, meaningful results are expected. This
GBC branch in Ho Chi Minh City opened this past April.
Small
and medium enterprises with headquarters or factories in Gyeonggi Province can
apply to participate in the event through the EGBIZ website (www.egbiz.or.kr) until 6:00pm on July 15.
Successful
applicants will receive support in terms of booth rental costs, installation
costs, interpretation fees, local buyer invitational fees, vehicle rental
costs, and one-way transportation costs for exhibited products. Vietnam,
the venue of the exhibition, has been attracting attention as the ‘World’s
Factory’, replacing China in that role thanks to abundant
labor and aggressive investment attraction policies. With its involvement in
the Trans-Pacific Partnership (TPP) and increased foreign investment, Vietnam
is expected to achieve an economic growth rate in the mid-6% range.
The
Korea-Vietnam Free Trade Agreement (FTA) took effect in December 2015. Thanks
to the FTA, the expansion of Korean corporations into Vietnam is expected to
accelerate not just in manufacturing but also other diverse sectors.
Gyeonggi
Province International Trade Division Director Ko Bong-tae said, “Vietnam
is geographically important as a corridor that connects northeast Asia with
southeast Asia. Thanks to its economic potential, Vietnam has recently been referred
to as post-China.” Ko added, “We hope some of our outstanding companies in
Gyeonggi Province who aspire to enter the Vietnamese market show considerable
interest and participate in this event.”
For
more information, please contact Gyeonggi Province’s International Trade Division (031-8008-2461)
or the Export Team of the Gyeonggi Small
and Medium Business Support Center (031-259-6134, 6139).
