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NTQ Solution & KTNET sign MoU on paperless trade

Released at: 17:02, 27/03/2019

NTQ Solution & KTNET sign MoU on paperless trade

Photo: NTQ Solution

Local software outsourcing company and South Korean paperless trade service provider sign deal promoting paperless trade.

by Ngoc Lan

Vietnamese software outsourcing company NTQ Solution signed a memorandum of understanding (MoU) with South Korean paperless trade service provider Korea Trade Network (KTNET) on March 26 in Hanoi to cooperate in developing paperless trade domestically and internationally.

The MoU is also aimed at developing solutions to increase productivity and improve work processes, with the two to support each other in technology commercialization, finding suitable business partners, and setting up offices abroad.

According to KTNET, Vietnam has seen strong economic growth over the years and actively attracted many foreign investors, of which there are currently about 8,000 South Korean enterprises. In response to the New Southern Policy of the South Korean Government, in particular focusing on developing a trade portal for South Korean businesses in Vietnam, KTNET has established a close partnership with NTQ Solution.

Through cooperation with IT businesses like NTQ Solution, KTNET will share its experience and expertise on setting up e-commerce systems in Vietnam, starting with the “Construction of a portal system to support outsourcing exports” project. The project is expected to begin in the first half of this year.

Mr. Kim Yong Hwan, President of KTNET, said that in addition to labor costs in Vietnam being reasonable, the country also has a great deal of talent in the field of information technology, so this represents potential to develop information technology in the country. “I hope that the cooperation with NTQ will be an opportunity to develop a paperless trading system in Vietnam, serving trade activities between South Korean and Vietnamese businesses,” he added.

In accordance with the South Korean Government’s basic plan for comprehensive trade automation, KTNET was established in 1989 with 100 per cent investment from the Korea International Trade Association (KITA).

Through the world’s foremost trade system, linking about 97,000 customers and trade-related organizations, including trading companies, banks, customs brokers, shipping companies, insurance firms, forwarders, and bonded storages, KTNET has digitalized about 614 types of export and import documents in the G2B and B2B sectors and is processing an annual average of 370 million paperless documents, thereby carrying out a role in the development of national industries.

NTQ Solution is one of the pioneering companies in software outsourcing for the Japanese market, providing two main services: the development of applications and high-tech products such as AI, IoT, and Cloud.

Besides expanding software outsourcing services for new markets such as South Korea and the US, NTQ Solution is expanding the development of products such as hardware and software equipment using high technology such as AI and IoT, reaching out to the international market.

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