Vietnam, RoK Expand Supply Chain and Manufacturing Cooperation

Both sides agreed that Vietnam-RoK startup cooperation must pivot from fact-finding tours, trade shows and short-term networking towards a hard-nosed partnership model that delivers concrete market access, business partner matchmaking, product validation, technology piloting and investor connectivity. Vietnamese Ambassador to the RoK Vu Ho said bilateral relations are currently enjoying the best conditions, underpinned by what he described as the three key factors of “favourable timing, geographical advantages, and strong public support”. Describing the RoK as a strategic partner of VIFC-HCMC, a leader of the centre said cooperation potential is significant given the country’s developed capital market, modern banking system, technological strengths and experience in building financial centres in Seoul, Busan and Incheon. The two sides will study and localise key technologies covering signalling, communications, power supply, electromechanical systems (E&M), SCADA, operations control centres (OCC), automatic fare collection (AFC) and platform screen doors (PSD), while advancing technology transfer, workforce development and the capabilities of domestic enterprises. Politburo Resolution No. 10-NQ/TW, issued on June 8, 2026, recognises the foreign-invested sector as an important component of the national economy, signalling a major shift in the country's investment attraction strategy. Rather than prioritising labour-intensive projects, Vietnam is now seeking high-quality investments capable of driving technological progress, innovation, sustainable development and stronger participation in global value chains. Shantanu Chakraborty, ADB Country Director for Vietnam, noted that while achieving strong growth in a single year is encouraging, maintaining both the pace and quality of growth over many years will be essential if Vietnam is to achieve its goal of becoming a high-income country by 2045.