An overview of the forum. (Photo: VNA) Hanoi (VNS/VNA) - Policies and orientations onattracting foreign investment, especially from Korean businesses, spotlighted aconference in the capital city of Hanoi on October 18.
Hosted by Vietnam News, an English language daily of the Vietnam News Agency (VNA), the forum lured the participation of more than 30 Vietnamese and Koreancompanies.
In her opening remarks, VNA General Director Vu Viet Trang said Vietnam is not only the Republic of Korea(RoK)’s biggest trade partner in the Association of Southeast Asian Nations (ASEAN)but also a focal partner in its New Southern Policy. Currently, many Korean enterprises are making effectiveinvestments in the country, she said.
VNA General Director Vu Viet Trang speaks at the forum. (Photo: VNA) As the COVID-19 pandemic was controlled, Vietnam and the RoK have continued stepping up cooperation in various fields to boost recovery and growth in the post-pandemic period, Trang said, adding that economic, trade and investment ties were a bright spot and an important pillar in the bilateral relationship.
The latest data from the Ministry of Planning and Investment (MPI)showed that the accumulated registered FDI capital from the RoK from 1988 toSeptember 2022 reached more than 80.5 billion USD with more than 9,400operating projects.
In the first nine months of 2022, the RoK ranked second among 97countries and territories investing in Vietnam with 290 projects, worth over 3.8billion USD.
In his speech at the event, Do Nhat Hoang, Director of theForeign Investment Agency under the MPI, praised the effective contributions ofKorean enterprises to Vietnam’s socio-economic development. Particularly, thecountry has seen a shift in capital flows from Korean investors in basicmanufacturing to high-tech industries, energy, banking, financial and highquality services, and M&A.
Do Nhat Hoang, Director of the Foreign Investment Agency, speaks at the event. (Photo: VNA) Hoang said he believed that the RoK maintains its positionas Vietnam’s leading source of foreign investment. “In the nextone to two years, the two countries can fully realise the "DualGoals", which aims at the milestone of 100 billion USD inbilateral trade turnover and total accumulated investment,” he said.
Bae Yong Geun, Vice President of the Korean Chamber of Commerceand Industry in Vietnam (KOCHAM), said that Vietnam, the epicentre of the Koreanwave in Southeast Asia, is an important destination, and the countries haveexperienced the strongest cooperation in the world.
"The RoK is still Vietnam’s largest investor," said Bae,adding that more than 9,000 Korean companies are participating in varioussectors, such as manufacturing, energy, culture, education and tourism.
At the event, Yoon Chang Woo, General Director of POSCO Vietnam,an enterprise with more than 30 years of investment in Vietnam, said thatthanks to the support from the Government, the company was able to overcomedifficulties during the COVID-19 pandemic.
Yoon suggested that southern provinces need to develop humanresources and essential infrastructure. More Korean enterprises wish to investin these provinces, but barriers in human resources and infrastructures mightmake them hesitate.
For his part, Koen Soenens, General Sales and Marketing Directorof DEEP C Industrial Zones, said DEEP C will continue to expand new industrialparks to welcome more large investors, and these new industrial parks willensure sustainability standards like the current five parks.
Entering Vietnam since 1997, DEEP C has been operating in thefield of industrial park complex development. It is striving to a greenerstandard to be different, providing a sustainable and reliable investmentlocation for customers is the goal of DEEP C./.
