Da Nang seeks stronger technology, innovation ties with RoK

Da Nang city is seeking to strengthen cooperation with the Republic of Korea (RoK) in technology and innovation. This initiative is part of Vietnam's strategy to enhance its position in global supply chains and attract high-quality foreign direct investment (FDI). Discussions are underway concerning the requirements for Korean companies expanding production in Vietnam, as well as opportunities for bilateral cooperation in technology, research and development (R&D), and human resources. Strategies for Vietnamese firms to strengthen their access to global supply chains are also being explored. This highlights the emphasis on technological innovation and international collaboration within Vietnam's economic development strategy under its one-party system. South Korea is noted for offering valuable lessons in smart agriculture development models, suggesting Vietnam's intent to improve productivity and international competitiveness in its agricultural sector through technological adoption. The green transition is deemed essential for Vietnam's electronics industry to enter and maintain its position in global supply chains, underscoring its importance for sustained competitiveness. The Vietnamese government is actively working on institutional reforms and improving the investment environment to support such industrial advancements. For instance, adjustments to market access restrictions for foreign investors are aimed at responding to dynamic international capital flows and technological trends, shifting the focus of investment attraction from quantity to quality. Furthermore, Vietnam's real estate market has been recognized among the world's top 10 most improved in transparency for 2024-26, indicating the stability and growth potential of its economy. These developments underscore Vietnam's proactive efforts in institutional reform and industrial competitiveness enhancement as it sustains economic growth and deepens international cooperation.