Businesses from the Republic of Korea (RoK) see Vietnam as a
promising market for their investments and intend to maintain their
position as Vietnam’s number one foreign investor.
The Director of the ASEAN-RoK Centre (AKC) for Planning and
Development, Jae Hyun Cho stated this at a workshop on trade and
investment between Vietnam-RoK in Hanoi on September 8.
Jae Hyun Cho is leading a delegation of 23 RoK leading enterprises
that operate in agricultural machinery, forestry, seafood and
foodstuffs, on a fact-finding tour of Vietnam from September 7-10 to
seek out business and investment opportunities.
Investment
and trade ties have developed steadily between Vietnam-RoK since
Vietnam introduced the Law on Foreign Investment in 1988. The RoK has
invested in nearly 2,600 projects, with a total registered capital of
over 23 billion USD in Vietnam.
The Deputy Trade and
Industry Minister Le Duong Quang, said that businesses from the RoK, who
are often amongst the top three foreign investors in Vietnam, have
made their presence felt in property and infrastructure, ship building,
electricity and electronics.
Despite the negative impacts
of last year’s global economic crisis, bilateral trade between Vietnam
and the RoK reached 9 billion USD in 2009 and is expected to climb to
20 billion USD in 2015.
At the workshop, the Director of
the Foreign Investment Agency under the Planning and Investment
Ministry, Do Nhat Hoang, pledged to continue supporting RoK investors to
do business in Vietnam, to boost trade and investment between the
two countries.
Hoang also called on RoK businesses to
continue investing in Vietnam, especially in agriculture, agricultural
machinery and forestry, in order to retain its position as one of
Vietnam ’s leading investors./.
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