KIPA Surveys HCM City's Investment Environment

A mission of the Korea IT Industry Promotion Agency (KIPA), a leader of Korea’s information industry has arrived in Ho Chi Minh City to survey its investment environment, local media reported.

 

The mission led by KIPA vice director in charge of software, Scott Ji, has visited the Tan Thuan Export Processing Zone in the city to learn about its software development plan, visited the Phu My Hung New Urban Area, surveyed the hi-tech zone in district 9 and the Quang Trung Software Park.

 

According to Mr. Ji, the Quang Trung Software Park has advantages for software development. He said South Korean firms are very keen on Vietnam’s investment environment. In the field of software, South Korean companies will initially pour their money in the small and medium scale.

 

Mr Ji also said he will shortly return to Ho Chi Minh City to seek ways to deploy specific projects.

 

A recent survey of 573 South Korean firms in Vietnam made by the South Korean Embassy in Vietnam and the Korea Trade and Investment Promotion Agency (KOTRA) has found almost 95 per cent of them to be satisfied with the business environment here.

 

The survey also said 62.8 per cent of Korean enterprises ran profitable businesses, earning combined profits of $5.85 million last year compared to $3.63 million in 2003.

 

In 2005 alone, South Korea stood third among 42 countries and territories investing in Vietnam with around $549 million in 182 projects, following Luxemburg and Samoa.

 
Investment