Singapore continued to be Vietnam’s largest investor during the seven months with $4.3 billion, or 27.7% of the total newly registered FDI projects.

Over the years, investment activities from South Korea to Vietnam have expanded beyond manufacturing to other economic sectors, both in direct and indirect investment which showcases the country’s strong appeal to South Korean investors.

The forum is part of a series of events to mark the 30th anniversary of Vietnam-South Korea diplomatic relations.

Economic cooperation has been a highlight of Vietnam-South Korea relations, with trade turnover rising by 150-fold to approach the US$100-billion target set for 2023.

Vietnam’s skilled workforce, optimistic economic outlook, and competitive wage prices are among the factors drawing foreign investors’ attention to the country.

S&P forecast Vietnam’s GDP will grow 6.9% in 2022 before settling closer to its long-term trend of growing 6.5%-7% from 2023 onward.

The country boasts 335 industrial parks with a combined area of 100,000 hectares, which will be expanded to meet the growing demand of domestic and foreign investors.

Vietnam’s positive outlook rides on strong external demand, a recovery in domestic consumption, and healthy investment inflows.

Reopening the economy is key to keeping the strong inflow of FDI into economic sectors.