Business

VN, RoK construction firms seek cooperation opportunities

Businesses from Vietnam and the Republic of Korea (RoK) explored cooperation opportunities in the field of construction at a workshop in Hanoi on September 16.
Businesses from Vietnam and the Republic of Korea (RoK) exploredcooperation opportunities in the field of construction at a workshop inHanoi on September 16.

The symposium introducedVietnam’s legal regulations in the sector, helping enterprises from theRoK understand the policy framework, opportunities and challenges ofinvesting in Vietnam.

Vietnamese firms stood a goodchance to find partners in the RoK, Director of the Institute ofConstruction and Urban Management Cadres Bui Duc Hung said.

According to Deputy Head of the Foreign Investment Department underthe Ministry of Planning and Investment Nguyen Noi, the RoK is thesecond largest investor in Vietnam, out of a total of 101 nations andterritories, with 3,930 projects worth more than 32.8 billion USD,including 543 in construction with an investment of 2.3 billion USD.

He suggested Vietnam attract more investments inconstruction and its support and processing industries, whileprioritising modern and environmentally-friendly technologies anddeveloping infrastructure and education-training in a bid to improveservices.

Kim Kyungil, a representative of theKorean Research Institute for Human Settlement, said the RoK givespriority to investment in Vietnam.

Koreanbusinesses saw both opportunities and challenges in the country’s 2014Law on Construction, fuelling their hope to increase investments in thenear future, he added.

During the workshop, participants also explored possibilities for cooperation between Vietnamese and RoK construction firms.-VNA
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