VKBIA signs with Shinhan Bank, Megazone Cloud Group, and Hoang Quan Group

VKBIA signs a comprehensive agreement with Shinhan Bank, Megazone Cloud Group, and Hoang Quan Group

On October 27, 2020 in Ho Chi Minh City, the conference themed "Promoting the strength of the overseas business community for the development of Ho Chi Minh City – Enhancing the stature of Vietnamese products" was held by the Ho Chi Minh City State Committee on Overseas Vietnamese, where the Vietnam-Korea Businessmen and Investment Association (VKBIA) is a companion unit.

The conference celebrated the success of the 11^th Congress of the Ho Chi Minh City Party Organisation in the period of 2020-2025, the 16^th anniversary of Vietnam Business Day (October 13) while simultaneously facilitating overseas businessmen and enterprises cooperating, investing, and doing business in Ho Chi Minh City to meet, exchange experiences, and cooperate in various fields.

The conference is an opportunity for businesses to exchange, connect, and review Vietnamese business traditions, to connect intellectuals, businessmen, and overseas Vietnamese businesses to take part in the socioeconomic development of Ho Chi Minh City in recent years.

This is also a chance for representatives of the city departments and associations, domestic and foreign business delegations to discuss solutions to contribute to the overall development of the city.

Speaking at the conference, Tran Hai Linh, VKBIA chairman, mentioned the difficulties foreign and Vietnamese businesses, including overseas Vietnamese enterprises, have encountered in recent years due to the COVID-19 pandemic.

“The connection between the two countries still faces many difficulties and the epidemic is a continuous disruption. But that is also a motivation for us to continue implementing and participating in activities that promote stronger commercial relations between the two countries,” Linh said. “We are pleased to accompany the Korean Embassy in Vietnam and the Ministry of Foreign Affairs of Vietnam in the Meet Korea 2020 programme that has attracted nearly 1,000 representatives from large, small, and medium-sized Korean enterprises to come and meet with Vietnamese localities.”

The VKBIA will support cloud-based digital innovation projects with Megazone Cloud, utilising the latter's technological solutions in Vietnam. The two sides plan to expand cooperation to Southeast Asia in the medium to long term.

Willy Cho, CEO of Megazone Cloud, said that the Vietnamese market is still slower to adopt cloud technology than other markets, but due to the rapid growth of the startup ecosystem as well as the abundant tech human resources will accelerate it.

In addition, Shin Dong Min, CEO of Shinhan Bank said, "The VKBIA and Shinhan Bank will coordinate in promoting cooperation between partners of Vietnam, South Korea, and other countries. At the same time, the two sides will cooperate comprehensively to seek and implement two-way cooperation opportunities in Vietnam and South Korea through connecting businesses, agencies, and organisations of Korea and Vietnam, increasing the use of both sides' networks in accessing different markets with specific goals.”

The VKBIA and MHGroup will also seek and connect investors for Hoang Quan and its members.