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Monday, October 18, 2021

S.Korea tops list of foreign investors in Vietnam

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HCMC – South Korean investors pumped in over US$544 million into projects in Vietnam during the first half of 2020, raising its total capital registered to invest in this Southeast Asian nation to some US$70 billion, becoming Vietnam’s biggest foreign investor.

This capital was invested in over 8,000 projects, creating jobs for over 700,000 workers nationwide and contributing 30% to Vietnam’s total export value.

These figures were revealed at a dialogue in Hanoi on July 17 between the prime minister’s Advisory Council for Administrative Reform and the Korean business community in Vietnam, aimed at helping remove obstacles facing South Korean enterprises active in Vietnam during the post-Covid-19 period.

Addressing the event, Minister, Chairman of the Government Office Mai Tien Dung announced that Vietnam pledges to work closely with countries, including South Korea and international organizations, to ease difficulties amid the Covid-19 pandemic.

Korean Ambassador to Vietnam Park Nok Wan urged the Vietnamese Government to continue to cooperate with South Korea to normalize bilateral exchange following the pubic health crisis.

Besides this, the ambassador proposed the Government continue its support for South Korean businesses to prevent obstacles and red tape while investing in Vietnam.

Since the beginning of the year, the Vietnamese Government slashed 239 business conditions, raising the total to some 3,900 of the roughly 6,200. In the coming period, the country will also execute e-customs procedures in line with international standards.

By Le Hoang

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