The Republic of Korea (RoK) continued to be the largest foreign direct investment (FDI) provider in Vietnam, with total investment capital reaching US$44.9 billion as of 2015, according to the Korea Trade-Investment Promotion Agency (KOTRA).
The Republic of Korea (RoK) continued to be the largest foreign direct investment (FDI) provider in Vietnam, with total investment capital reaching US$44.9 billion as of 2015, according to the Korea Trade-Investment Promotion Agency (KOTRA).
A KOTRA Hanoi-conducted survey on the FDI trends in Vietnam from 1988 until now showed that the RoK ranked top among foreign direct investor in the Southeast Asian country, accounting for 16.1% of the total US$279 billion.
Japan came in second place with US$38.4 billion, followed by Singapore with US$34.7 billion and Chinese Taipei with US$30.6 billion.
2015 was the second year in a row to see the RoK’s domination in regards to Vietnam’s FDI inflow, with a total of US$6.7 billion, 87.9% of which was poured into the manufacturing industry.
Vietnam was also the fourth largest recipient of the RoK’s foreign investment, behind the US, China and Hong Kong (China), and the RoK’s third largest export market after China and the US.
According to KOTRA, the Vietnam-RoK free trade agreement (FTA) taking effect last December will lead to cuts in import tax on many items, including household electronics, tyres and car parts, thereby contributing to expanding the scale of trade and investment between the two countries in 2016.
Director of KOTRA Hanoi Lee Kyu Seon said that the office is planning to establish a support centre for implementation of the Vietnam-RoK FTA next March, aiming to provide assistance to RoK enterprises in taking advantage of opportunities brought about by the deal for entering the Vietnamese market.
(Source:Nhan Dan)
