To draw high-tech industries to Vietnam, he advised the country to quickly establish robust policies and strategies for technology protection. A strong intellectual property rights framework is critical from an economic security perspective, Kwak explained.

Without such mechanisms, businesses may be hesitant to invest in Vietnam or fulfill technology transfer commitments.

Recognising the RoK's strong appreciation for green transition and digital cooperation, he called for joint efforts to develop a pool of highly skilled workers, making the higher education sector crucial as a result. Given the RoK's established strengths in this area, he proposed further discussions to enhance partnership.

What Vietnam should do is to encourage students to study abroad and then return home to contribute their expertise. At the same time, it is crucial to develop suitable training models that can deliver international standards while remaining cost-efficient, he said.

Vietnam must act swiftly to create an attractive environment for skilled professionals before facing intense global competition for talents, he suggested.

Looking beyond economic cooperation, the expert defined cultural exchange as another promising avenue for collaboration. Building on the existing comprehensive strategic partnership between Vietnam and the RoK, he believed that combining the RoK's cultural experience and creative content expertise with Vietnam's rich human and cultural resources could foster a unique and innovative cultural sector.

Bac Giang maintains economic growth momentum

BAC GIANG - In recent years, Bac Giang has always maintained double-digit economic growth, among the leading localities in the country. To maintain growth momentum and expand economic scale, the province has strived to innovate itself, stay creative, and drastically implement synchronous solutions.

ADB maintains 6% growth forecast for Vietnam's economy

The Asian Development Bank (ADB) has maintained its earlier growth projection for Vietnam this year despite lingering uncertainties in the external environment. Vietnam’s economy is expected to grow at 6.0% and 6.2% in 2024 and 2025, respectively, heard a conference held in Hanoi on April 11.

Vietnam’s economic growth boosts European businesses’ confidence

The European Chamber of Commerce Vietnam ( EuroCham) on April 8 released the Business Confidence Index (BCI) for the first quarter of 2024, saying that the index reached 52.8 points - the highest level since 2022.

Two scenarios for GDP growth this year: planning ministry

The Ministry of Planning and Investment has said what needs to be done from here on to achieve GDP growth of 6% and 6.5%, the target range for 2024.

Vietnam’s Q1 growth at highest level since 2020: Singaporean newspaper

Vietnam’s Q1 growth was at the highest level since 2020 despite global economic turmoil, reported The Business Times of Singapore.

Bac Giang focuses on attracting investment and maintaining growth momentum

BAC GIANG - On March 22, Le Anh Duong, Chairman of the Bac Giang Provincial People's Committee (PPC) chaired the regular meeting in March.

Source: VNA