Republic of Korea (RoK) businesses have poured additional 6.72 billion USD into Vietnam, making the RoK the largest among 62 foreign investors in the Southeast Asian nation.
Workers at Samsung Electronic Vietnam Thai Nguyen (Photo: VNA)
Hanoi (VNA) - Republic of Korea (RoK) businesses have poured additional 6.72 billion USꦰD into Vietnam, making the RoK the lar💃gest among 62 foreign investors in the Southeast Asian nation.
With 702 new projects and 260 adjusted ones, RoK investment has made up 29.6 percent of the country’s total foreign direct investment (FDI), according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.
Samsung Display Vietnam, a subsidiary of the RoK’s Samsung Group, has added 3 billion USD to its screen production project in the Yen Phong 1 Industrial Park in the northern province of Bac Ninh. The project was licensed in 2014 with initial registered capital of 1 billion USD.
Other big names making significant contributions to the country’s socio-economic development include LG, Posco, Hyundai, and Lotte.
President of the Vietnam Association of FDI Enterprises Nguyen Mai said the RoK investors have created the impetus for economic growth in the northern economic region.
Samsung, for example, has employed more than 100,000 locals and contributed approximately 30 billion USD to the country’s export value, he added.
FIA Director Do Nhat Hoang underlined the increasing trend of RoK investment in Vietnam, saying it will be further buoyed by the Vietnam-RoK free trade agreement (FTA), which became effective recently.
According to the General Statistics Office, bilateral trade between Vietnam and the RoK has increased significantly over the past few decades, from 500 million USD in 1992 to 28.8 billion USD in 2014.
There are about 3,000 RoK enterprises operating in Vietnam, creating jobs for more than 400,000 locals.
According to statistics of the Korea Trade-Investment Promotion Agency (KOTRA) in Hanoi, quoted by the RoK news agency Yonhap, the RoK’s total investment in Vietnam had reached 44.9 billion USD by the end of 2015.-VNA
Vietnam is committed to improving its market economy institutions, developing human resources and building infrastructure to continue attracting investment from the Republic of Korea (RoK), said Nguyen The Phuong, Deputy Minister of Industry and Trade.
Investments in Vietnam by businesses from the Republic of Korea in the first six months of this year rose 82.2 percent year on year, said a report on the Sai Gon Giai phong newspaper.
The Vietnam-Republic of Korea (RoK) free trade agreement (VKFTA) is billed as a significant legal framework for enterprises from Vietnam and the RoK to expedite investment and cooperation.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Workers at Samsung Electronic Vietnam Thai Nguyen (Photo: VNA)
