South Korea Invests in US$20.4B in Vietnam To Date
South Korean firms have invested US$20.4 billion in 2,294 projects in Vietnam, ranking the 2nd among over 80 countries and territories making direct investment in the country, just behind Taiwan, according to South Korean Ambassador to Vietnam Im Hong-Jae.
The Ambassador said South Korean investments in Vietnam mostly are in the areas of manufacturing, garment and textile and garment sectors.
However, they have moved their investment to high-tech and electronics projects in Vietnam over the recent years, the ambassador noted.
“Samsung Group opened a US$670-million mobile phone plant in the northern province of Bac Ninh in October. After the event, many of the group’s affiliates have built their factories in Vietnam to provide components for the plant,” he said.
South Korea pledged to provide US$270 million in ODA for Vietnam next year at consultative group (CG) meeting 2009 held in Hanoi Dec 3-4.
The two countries target bilateral trade of US$20 billion by 2015. (Labor)
Vietnamese
