The Ministry of Planning and Investment’s Foreign Investment Agency (FIA) has recently launched the Korea Desk in a move to practically support the Republic of Korean (RoK) investors interested in doing business in Vietnam.

By October 2014, the RoK’s total investments in Vietnam approximated 33.5 billion USD, ranking second among countries and territories investing here.

It has also become the top foreign investor in Vietnam this year when channeling 3.6 billion USD in during the first 10 months of 2014.

RoK Ambassador Jeon Dea Joo said Vietnam will become the most important foreign investment partner of the RoK once a bilateral free trade agreement and the Trans-Pacific Partnership agreement are enforced.

The Korea Desk is among the latest agencies specialising in providing assistance for foreign investors. Earlier, the Japan Desk was set up. By October 2014, Japan tops the investors’ list with 36.5 billion USD

Both desks, located at the FIA’s Northern Investment Promotion Centre in Hanoi, are tasked with offering official information and advice relating to legal issues and investment procedures for businesses seeking local partnerships.

Officials from the Ministry of Planning and Investment said the establishment of the desks demonstrates efforts taken by the Vietnamese Government’s agencies to better the local investment environment and create optimal conditions for foreign investors.-VNA