Vietnam embraces investment flow from the RoK

Vietnam is seeing a significant influx of investment from the Republic of Korea (RoK). In recent years, the RoK has consistently ranked as Vietnam's top partner in terms of direct investment. Bilateral relations were elevated to a comprehensive strategic partnership in 2022, setting the stage for increased collaboration in high-tech industries and supply chain development.

Among the prominent investors, Lotte Group has emerged with substantial projects across Vietnam, including smart cities and upscale hospitality ventures, solidifying its position as a key player in the market.

Lotte's investments in Vietnam now exceed 5 billion USD, underscoring its commitment to fostering growth in Vietnam alongside its home market of the RoK and Japan.

Vietnam's attractiveness for FDI, particularly from the RoK, is attributed to competitive costs, a young workforce, political stability, and supportive governmental policies.

Experts predict Vietnam will continue to attract foreign investors due to ongoing incentives and partnerships with local businesses.

The RoK-Vietnam Business Forum, held in Seoul during Prime Minister Pham Minh Chinh's official visit to the East Asian country, featured significant business agreements and strategic initiatives aimed at mitigating global supply chain risks.

This forum reflects the ongoing efforts to strengthen economic ties between the Republic of Korea and Vietnam./.