Forum to Boost S.Korean Investment into Vietnam Opens
As many as 60 South Korean companies attended an investment forum in Hanoi March 12 to seek opportunities in the fast-growing market of Vietnam, state media said.
The two-day event entitled “Vietnam Investment Forum 2009” is jointly by the Korea Trade Investment Promotion Agency (KOTRA) and the South Korean Financial Times.
This is a chance for South Korean investors in the industrial area, particularly steel and food, to explore the Vietnamese market.
Addressing the meeting, South Korean Ambassador to Vietnam Im Hong Jae urged local enterprises to invest in Vietnam, a big market with 85 million people.
As of late 2008, South Korea injected US$15.8 billion into Vietnam, becoming the fourth largest foreign investor making direct investment in the country.
Currently, some 1,600 South Korean firms are operating in Vietnam, accounting for 21 per cent of the country’s of FDI value.
South Korea is now Vietnam’s sixth biggest trade partner. The two-way trade is presently estimated at US$9.8 billion.
According to Vietnam News Agency, some 85,000 Vietnamese people are living in South Korea, while 60,000 South Korean people are residing in the Southeast Asian nation. (Investment, Vietnam & World Economy)
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