Sat, 21 Jun 2014. Last updated Thu, 25 Jun 2015 08:44
The memorandum includes 7 articles stating that both sides agree to strengthen cooperation relations between Da Nang City, Vietnam and Changwon City, South Korea, in the jurisdiction of each part, on the basis of mutual respect, equality, mutual benefit and in accordance with laws and policies of Vietnam and Korea, not against international treaties signed between two countries.
In addition, both sides agree to increase exchanging delegations at all levels; to implement cooperation programs in the areas of administration, economy, education, and culture – art exchange; to hold programs of staff exchange; and to encourage and create favorable conditions for cooperation of two cities’ enterprises. Speaking at the ceremony, Mr. Van Huu Chien, the Chairman of People’s Committee of Da Nang City, said that two cities have similarities in terms of natural conditions, people and economic development. He also expressed the hope that Da Nang City and Changwon will increasingly enhance further cooperation in areas such as investment, human resource training, tourism development, and so on.
Mr. Kim Seok Ki, the Mayor of Changwon City, on behalf of the delegation expressed thanks to city’s leaders, departments that helped and created favorable conditions for the delegation when they were in Da Nang. The memorandum was expected to write up new history of cooperation and development of two cities. He hoped that there would be more and more opportunities for cooperation in the near future, especially in tourism development that Da Nang was doing very well. Changwon is considered as the “Silicon Valley of South Korea” with the operation of a wide range of multinational corporations such as Doosan Heavy, LG, Samsung, GM,… From 2008 to now, Da Nang and Changwon City have 7 meetings between diplomatic delegations and enterprises seeking for business opportunities.
At the ceremony, representatives of Da Nang and Changwon City have also shared information about areas that both sides expectedly cooperate in the near future such as human resource training, tourism, education, and so on. Currently, South Korea has 35 investment projects still in force in Da Nang City with total capital up to $ 705 million, of which the majority is projects of the real estate, textile and footwear. Generally, South Korea’s investment in Da Nang is deployed quickly and efficiently. There are approximately 20 enterprises in Da Nang City that have trade relations with South Korea. Two-way exports and imports between two cities in 2013 are estimated at nearly $ 93.2 million. In addition to economic field, Da Nang City also cooperates with South Korea in various fields such as education, culture exchange, aid, foreign policy, and so forth.