"Smart City and Investment Exchange"… Busan Joins Hands with Can Tho City, Vietnam for Economic Cooperation

Busan City Strengthens Foundation for Expansion into ASEAN Markets

Busan City is establishing a cooperative framework with key cities in Southeast Asia.

Busan City (Acting Mayor Kim Kyung-deok) announced on May 7 that it will sign a business agreement with Can Tho City, Vietnam, at the International Protocol Room of City Hall to strengthen economic cooperation focused on future industries.

Attendees at the signing ceremony will include Busan Vice Mayor for Future Innovation Sung Hee-yeop, Nguyen Tuan Anh, Deputy Secretary of the Can Tho Municipal Party Committee, and Nguyen Van Khoi, Vice Chairman of the People’s Committee, as well as other officials from both sides.

This agreement is a measure to respond to the restructuring of the global supply chain and the growth trend of emerging markets. The plan is to expand the overseas business foundation for local companies through cooperation with Southeast Asian hub cities.

The two cities will promote cooperation in advanced industries such as smart cities and digital transformation. The agreement also includes expanding trade and investment, business exchanges, cooperation in education and research, and collaboration in the fields of maritime, logistics, and tourism.

Busan City plans to utilize Can Tho City as a bridgehead for entering the ASEAN market. Can Tho City, a central city in the Mekong Delta, is regarded as a key growth hub with strengths in agriculture, fisheries, and manufacturing.

During their visit to Busan, the Can Tho City delegation will tour sites such as the port and the Traffic Information Service Center to examine industrial infrastructure. On May 8, business networking with local companies will also take place.

Sung Hee-yeop, Busan Vice Mayor for Future Innovation, emphasized, "This will serve as an opportunity to strengthen cooperation with ASEAN in line with the trend of supply chain diversification," and added, "We will actively support companies’ overseas expansion and investment cooperation."

Busan City Hall.

This content was produced with the assistance of AI translation services.