• An Giang
  • Binh Duong
  • Binh Phuoc
  • Binh Thuan
  • Binh Dinh
  • Bac Lieu
  • Bac Giang
  • Bac Kan
  • Bac Ninh
  • Ben Tre
  • Cao Bang
  • Ca Mau
  • Can Tho
  • Dien Bien
  • Da Nang
  • Da Lat
  • Dak Lak
  • Dak Nong
  • Dong Nai
  • Dong Thap
  • Gia Lai
  • Ha Noi
  • Ho Chi Minh
  • Ha Giang
  • Ha Nam
  • Ha Tinh
  • Hoa Binh
  • Hung Yen
  • Hai Duong
  • Hai Phong
  • Hau Giang
  • Khanh Hoa
  • Kien Giang
  • Kon Tum
  • Lai Chau
  • Long An
  • Lao Cai
  • Lam Dong
  • Lang Son
  • Nam Dinh
  • Nghe An
  • Ninh Binh
  • Ninh Thuan
  • Phu Tho
  • Phu Yen
  • Quang Binh
  • Quang Nam
  • Quang Ngai
  • Quang Ninh
  • Quang Tri
  • Soc Trang
  • Son La
  • Thanh Hoa
  • Thai Binh
  • Thai Nguyen
  • Thua Thien Hue
  • Tien Giang
  • Tra Vinh
  • Tuyen Quang
  • Tay Ninh
  • Vinh Long
  • Vinh Phuc
  • Vung Tau
  • Yen Bai

RoK’s enterprises seek investment opportunities in VN

VGP – The Trade Promotion Department (the Ministry of Industry and Trade) worked with the Korea Federation of Small and Medium Business (K-Biz) and the Taejon Broadcasting Corporation (TJB) to jointly hold a seminar on Viet Nam-RoK investment and trade under the motto “Business development opportunities.”

April 22, 2019 4:00 PM GMT+7

Illustration photo

The seminar targets to discuss measures to raise the bilateral trade turnover to US$ 100 billion by 2020; support Vietnamese localities to seek RoK’s investment inflow; and optimize business opportunities. 

Addressing the event, Director of the Trade Promotion Department Vu Ba Phu said that Viet Nam yearly absorbs US$ 35-40 billion of FDI of which the RoK is the top FDI provider. 

As of February 2019, the RoK poured US$ 63.7 billion of FDI to Viet Nam, accounting for 18.5% of total FDI registered capital. 

In 2018, 1,043 FDI projects worth US$ 7.2 billion were licensed in Viet Nam. The RoK made up 20.3% of total FDI registered capital in Viet Nam. 

Mr. Phu reported that about 7,000 Korean enterprises are doing business in Viet Nam. They have become an important part of the Vietnamese economy, employing about 700,000 workers and contributing about 30% of Viet Nam’s total export turnover. 

RoK’s FDI have served to boost industry, agriculture, tourism, and service sectors in Viet Nam. 

Director of TJB Lee Gwang Chuk said that Viet Nam and the RoK are maintaining the cooperation in politics, trade and investment. He hoped that the seminar would benefit the two sides. 

RoK businesses are extremely interested in Viet Nam especially in such areas as IT, biology, food processing, auxiliary industries, entertainment, and culture. 

The RoK’s former Minister of SMEs and Startups Ju Young Seob reported that the RoK is Viet Nam’s third largest trade partner. 

The Viet Nam-RoK Free Trade Agreement took effect since December 20, 2015 and has generated new impetus to raise two-way trade turnover to US$ 100 billion./.

By Kim Anh