Korean firms satisfied with Vietnamese entry process: survey

Up to 67.3 percent of Korean firms said they are satisfied with the entry process in Vietnam, a recent survey by the Korean Chamber of Commerce and Industry (KORCHAM) shows.
November 05, 2020 | 09:57
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The number of Korean businesses coming to Vietnam via the special entry process counts 1,528 (including those due to enter the nation on November 5), with more than 2,790 businesspeople and their 453 family members, of whom no positive COVID-19 cases have been recorded so far. Photo: VOV

Up to 67.3 percent of Korean firms said they are satisfied with the entry process in Vietnam, a recent survey by the Korean Chamber of Commerce and Industry (KORCHAM) shows.

The survey, released on November 4, was conducted among 303 Korean enterprises that utilise special entry procedures in Vietnam.

Of the questioned enterprises, 20.1 percent said they felt “normal”, while 12.6 percent stated that they were unsatisfied with the process.

At present, Korean businesspeople attempting to enter the country must charter flights run by KORCHAM in Vietnam.

Vietnam suspended all international flights to curb the spread of the novel coronavirus from March 25. Only Vietnamese citizens, foreigners with diplomatic passports, foreign experts or highly skilled workers are allowed the enter the country.Those entering the country must take COVID-19 test and undergo quarantine for 14 days.

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The factory of Samsung Electronics Vietnam in the northern province of Thai Nguyen. Photo: VnExpress

According to the survey, thanks to the special entry process, Korean firms have reached contracts worth KRW30 billion (US$26.4 million USD) with the Vietnamese side.

The interviewed enterprises also suggested the Governments of both countries better quarantine regulations after entry (60.6 percent), simplify procedures (41.8 percent), launch more flights (35 percent) and speed up exit procedures (29 percent).

The number of Korean businesses coming to Vietnam via the special entry process counts 1,528 (including those due to enter the nation on November 5), with more than 2,790 businesspeople and their 453 family members, of whom no positive COVID-19 cases have been recorded so far.

The Republic of Korea (RoK) was the fifth biggest investor in Vietnam in the first half of the year with nearly $545 million.

Korean businesses account for 30 percent of Vietnam’s total exports and provide more than 700,000 jobs./.

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