Director of the Foreign Investment Department (Ministry of Planning and Investment) Do Nhat Hoang said that in the near future, Vietnam will receive strong investment flows from Korea amounting to tens of billions of dollars.
On the morning of July 16, the Korea Trade and Investment Promotion Agency under the Ministry of Trade, Industry and Energy of Korea organized "Vietnam - Korea Enhanced Partnership Week 7".
Sharing at the event, Mr. Do Nhat Hoang, Director of the Foreign Investment Department (Ministry of Planning and Investment), said that over the past 5 years, Korea has been one of the leading countries investing in Vietnam. Nam including total registered investment capital and number of projects.
Accumulated to June this year, total direct investment from Korea into Vietnam reached nearly 6 billion USD with more than 87,5 investment projects. Of which, investment in manufacturing and processing industry accounts for nearly 10.000% of total registered capital and 75% of total projects.
In the past 6 months alone, Korea invested 1,4 billion USD, ranking 4th out of 84 countries and territories, an increase of 16% over the same period in 2023.
Regarding development cooperation (ODA), Vietnam continues to be the top priority partner to which Korea provides development assistance, accounting for about 20% of Korea's total aid. Priority areas to receive ODA from Korea are urban transport infrastructure, education and training, environment, clean energy, information technology...
According to Mr. Hoang, in the current economic context of Vietnam, investors investing in Vietnam are increasing rapidly. In the near future, Vietnam will receive strong investment flows from Korea amounting to tens of billions of dollars.
Investment capital flows are expected to increase sharply after the Korean President's visit to Vietnam in June 6 and Prime Minister Pham Minh Chinh's visit to Korea last June.
Prime Minister Pham Minh Chinh recently received 14 general directors and presidents of major Korean corporations. All units expressed their views that each corporation will invest billions of dollars in Vietnam.
Expressing his views on foreign investment cooperation, the representative of the Foreign Investment Department said that Vietnam will proactively attract and cooperate with foreign investment selectively. At the same time, criteria such as quality, efficiency, technology and environmental protection will be the main evaluation criteria.
Industry groups prioritized for attraction include electronics, semiconductors, renewable energy, digital economy - digital transformation, high-tech agriculture, financial centers, innovation, research and development...
Mr. Hoang said that Vietnam also prioritizes foreign investment linked with domestic businesses to create mutual complementarity.
At the same time, Vietnam's commitment at COP26 to reduce net emissions to zero by 0 has inspired investors. Many investors coming to Vietnam are interested in the fields of renewable energy and green transformation.
To attract FDI capital flows, Vietnam has for many years persistently stabilized and developed the macro economy. Besides, Vietnam also continuously has institutional reforms, improving the investment environment and infrastructure investment...
"Clean land funds have also been prepared, high-quality human resources are ready to receive investment waves, Mr. Hoang emphasized.
Vietnam also actively promotes digital transformation, green transformation, energy transformation, innovation, deploying information technology infrastructure, and strengthening dialogue with investors to overcome difficulties.
Also at the event, Mr. Lee Ji-Hyung - Director in charge of economic and trade cooperation at the Korean Trade and Investment Promotion Agency, said that Vietnam is also the third largest trading partner in Korea. China, just behind the US and China.
Through trade promotion sessions, he expects Korean businesses to have enough capacity to participate in key infrastructure projects and priority industry groups, such as high-rise subways. expressway, LNG plant...
Source: Dan Tri Newspaper
