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Vietnam – attractive investment destination for RoK investors

Vietnam is a destination chosen by investors from the Republic of Korea (RoK) in the spheres of technology, environment and high-tech industry, heard a conference in Ho Chi Minh City on July 22.
Vietnam – attractive investment destination for RoK investors ảnh 1The conference was held within the framework of the Vietnam-RoK Cooperation Forum (VIKO30). (Photo: VNA)
HCM City (VNA) – Vietnam is a destination chosen by investors from the Republic of Korea (RoK) in the spheres of technology,environment and high-tech industry, heard a conference in Ho Chi Minh City onJuly 22.

The conference was held within the framework of theVietnam-RoK Cooperation Forum (VIKO30), by the Vietnam Fatherland Front CentralCommittee and the Ministry of Planning and Investment.

In his remarks, Ambassador Nguyen Phu Binh, Chairmanof the Association for Liaison with Overseas Vietnamese (OV), said after 30years of bilateral diplomatic ties, Vietnam and the RoK havebecome important partners, especially in economy.

The RoK is one of the biggest investors in Vietnamover the past years, significantly contributing to the Southeast Asian nation’seconomic development, he said, adding that Korean investment has been expandedto other cities and provinces, apart from Hanoi, HCM City and adjacentlocalities.

Kwon Sung-taek, Vice President of the Korea and VietnamEconomic and Cultural Association (KOVECA), viewed economic cooperation,covering investment and trade, as the biggest result in the bilateralrelationship over the past three decades.

He said the trade revenue between the RoK andVietnam is equivalent to that between the RoK and other nine ASEAN membernations, noting that Korean firms contributed around 25 percent to Vietnam’stotal export value.

According to Kwon, Korean investments have beenshifted from labour-intensive industries to others like manufacturing, high-techand environment.  Korean investors have alsoregarded Vietnam as a destination for technological transfer and personneltraining cooperation.

He, however, pointed out policy-related obstacles tothe investment, and suggested more harmony and transparency during theimplementation of investment policies in Vietnam to attract more Koreaninvestors.

It was reported at the conference that the RoK isrunning 209 projects worth 900 million USD in the southern province of Long An,and 426 others valued at 7 billion USD in the southern province of Dong Nai.

Pham Huu Thang, Vice Chairman and General Secretaryof the Association for Liaison with Overseas Vietnamese, affirmed that Vietnamstands ready to welcome Korean investors.

Thang, who is also former deputy head of the ForeignInvestment Agency under the Ministry of Planning and Investment, suggested thetwo sides regularly exchange information to better cooperate in specificareas./.
VNA
#Vietnam #RoK #VIKO30 #KOVECA #technological transfer #personnel training cooperation #VietnamPlus #Vietnam news Korea (RoK)
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