ROK firms pour US$2.43 billion into Vietnam in eight months

Update: 16:56 | 23/09/2021

Businesses from the Republic of Korea (ROK) poured over US$2.43 billion into Vietnam in the first eight months of 2021, ranking third in terms of total registered capital after Singapore and Japan.

According to the Foreign Investment Agency under the Ministry of Industry and Trade, ROK firms invested in 251 new projects worth nearly US$759 million and pumped an additional US$1.18 trillion into 179 existing projects. Mean while, their capital contributions and share purchases reached US$494.46 million.

ROK firms, Vietnam, eight months, total registered capital, new projects, capital contributions, biggest foreign investor

Samsung is one of the largest ROK investors in Vietnam.

With 9,159 valid projects worth US$72.34 billion, the ROK now is the biggest foreign investor in Vietnam, the agency said.

This proves that ROK businesses have great confidence in Vietnam’s investment environment, Vice Chairman of the Vietnam Association of Foreign-Invested Enterprises Nguyen Van Toan told the Cong Thuong (Industry and Trade) newspaper.

Despite the complicated developments of the Covid-19 pandemic, the number of newly-registered and capital-added projects invested by ROK firms is still increasing.

Nearly 60 Vietnamese localities nationwide have attracted investment from the ROK, led by the northern province of Bac Ninh with 957 projects worth US$10.7 billion, accounting for 14.9 percent of the northeast Asian country’s total investment in Vietnam.

The ROK’s investment projects have been quickly disbursed, significantly contributing to socio-economic growth and development in the Southeast Asian country, Toan said.

ROK firms’ projects mainly focus on the processing and manufacturing industry with 4,543 projects totaling US$53.1 billion, making up 73.5 percent of the country’s investment total in Vietnam.

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(BGO) – Implementing Resolution No.147-NQ/TU on August 30, 2021 from the Bac Giang provincial Executive Board of the provincial Party Committee about industrial development in the period 2021 – 2030, Hiep Hoa district strives to build four industrial parks and 15 industrial clusters in total area of 2,228 ha by 2030 with industry – construction sector making up 75 percent of the economic structure.
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(BGO) – The Head of Bac Giang provincial Industrial Park Management Board (IPMB) Dao Xuan Cuong said 40 out of 45 ha of the site work at the first stage of Vietnam Korean industrial park has been completed, ensuring the set schedule.

Source: NDO/VNA

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