Illustration photoThe Republic of Korea has become Viet Nam’s largest foreign investor, with 702 new projects and 260 adjusted ones, accounting for 29.6% of total foreign direct investment (FDI).
RoK businesses have invested an additional U$6.72 billion in Viet Nam, topping the list of the biggest investors in the country, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.
Currently, with 702 new projects and 260 adjusted ones, RoK investment has contributed to 29.6% of the country’s total FDI.
Viet Nam and the Republic of Korea established diplomatic ties in 1992 and saw bilateral trade value top $30 billion in 2014, 30 times higher than the initial stage.
Big firms which invested the huge capital in Viet Nam and contributed significantly to thenational socio-economic development are LG, Posco, Hyundai, and Lotte.
At present, Viet Nam is committed to improving its market economy institutions, developing human resources and building infrastructure to continue attractingKorean businesses.
The country is the fourth largest outbound market of the Republic of Korea, behind the U.S., China, and Hong Kong/.