Vietnam becomes more attractive to RoK investors
The investment from the Republic of Korea (RoK) will continue to rise strongly, according to General Secretary of RoK Business Association in Vietnam Hong Sun.
Currently, Vietnam is an attractive destination for investment from RoK, General Secretary of RoK Business Association in Vietnam Hong Sun said.
Many RoK firms are planning to invest in Vietnam, he noted, and believing that the surge of investment from the RoK will continue in the coming time.
According to the offcial, several enterprises wish to expand their operation in Vietnam to meet the increasing demand of major industrial groups already operating in the country, especially Samsung and LG.
The key industrial groups, including Samsung, LG, Posco, Lotte, CJ and Daesang Corp, are also planning to expand their businesses in the Southest Asian nation, he noted.
He said the trend is attributed by positive impacts of the Vietnam-Korea Free Trade Agreement (VKFTA) which came into force in late 2015 and the establishment of a centre to support the deal in March of the previous year.
He highlighted that while the VKFTA creates favourable conditions for investment in various fields, current Korean-invested projects in Vietnam mainly focus on the processing industry, industrial production, real estate and construction.
With the target of the VKFTA to lower taxes along with Vietnam’s preferential policies, the country’s energy sector is expected to draw more RoK investors, he said.
The RoK is one of the biggest overseas investors in Vietnam with 5,656 projects worth 51.5 billion USD, and Vietnam is currently the fourth largest foreign investment partner of the RoK.
Hong Sun stressed that besides geographical advantages, Vietnam boasts a young population, hardworking labourers and stable economic development. Vietnam is a market where businesses of the RoK can flourish because of similar characteristics in culture and education of the two countries. In addition, Vietnamese people are interested in RoK products.
Many RoK firms are planning to invest in Vietnam, he noted, and believing that the surge of investment from the RoK will continue in the coming time.
Illustrative image
|
The key industrial groups, including Samsung, LG, Posco, Lotte, CJ and Daesang Corp, are also planning to expand their businesses in the Southest Asian nation, he noted.
He said the trend is attributed by positive impacts of the Vietnam-Korea Free Trade Agreement (VKFTA) which came into force in late 2015 and the establishment of a centre to support the deal in March of the previous year.
He highlighted that while the VKFTA creates favourable conditions for investment in various fields, current Korean-invested projects in Vietnam mainly focus on the processing industry, industrial production, real estate and construction.
With the target of the VKFTA to lower taxes along with Vietnam’s preferential policies, the country’s energy sector is expected to draw more RoK investors, he said.
The RoK is one of the biggest overseas investors in Vietnam with 5,656 projects worth 51.5 billion USD, and Vietnam is currently the fourth largest foreign investment partner of the RoK.
Hong Sun stressed that besides geographical advantages, Vietnam boasts a young population, hardworking labourers and stable economic development. Vietnam is a market where businesses of the RoK can flourish because of similar characteristics in culture and education of the two countries. In addition, Vietnamese people are interested in RoK products.
12:17, 2025/02/25
Vietnam eyes top 3 in investment environment in ASEAN next 2 years: Party Chief
A key objective is to trim off at least 30% of administrative procedures and cut both business costs and unofficial fees.
18:03, 2025/02/22
Vietnam attracts South Korean tech investment at SEMICON Korea 2025
The event provided a platform for Vietnam to showcase its semiconductor potential and reaffirm its commitment to developing high-tech industries and strengthening international cooperation.
16:46, 2025/02/20
Swedish group plans US$1 billion investment in Binh Dinh recycling plant
By creating a large number of jobs and promoting a green economy, the initiative is important in establishing Vietnam as a global hub for the circular textile sector.
10:52, 2025/02/13
Samsung plans to invest in AI, semiconductors in Vietnam
Vietnam will continue improving its investment environment and driving strategic breakthroughs in order to usher in a new era of economic development.
17:20, 2025/02/07
Vietnam's data center construction costs among the lowest in Asia Pacific
The country has a lot of potential to become one of the most important data markets in the region.
21:05, 2025/02/03
Bright prospects for FDI inflows into Vietnam in 2025
Market size, growth potential, low labor costs, and stable political and social conditions continue to be Vietnam’s selling points in attracting foreign investors.
- Foreign companies confirm investment expansion in Vietnam in 2025
- PM invites Skoda to manufacture electric vehicles in Vietnam
- US Berggruen Holdings to help Vietnam set up investment funds
- Vietnam releases Esports White Book 2022-2023
- Aircraft manufacturer Embraer seeks comprehensive aviation partnership with Vietnam
- Better links with FDI firms to support Hanoi businesses