Vietnam is an attractive destination for investment, with many companies from the Republic of Korea (RoK) planning to invest in the country, said Hong Sun, General Secretary of RoK Business Association in Vietnam.
Hanoi (VNA) – Vietnam is an attractive destination for investment, with manycompanies from the Republic of Korea (RoK) planning to invest in the country,said Hong Sun, General Secretary of RoK Business Association in Vietnam. Ina talk with the Dau Tu (Investment) newspaper, Hong Sun said he believed thatthe surge of investment from the RoK will continue as several companies want toexpand their operation in Vietnam to meet the increasing demand of majorindustrial groups already operating in the country, particularly Samsung andLG. Henoted that major industrial groups, including Samsung, LG, Posco, Lotte, CJ andDaesang Corp, are also planning to expand their businesses in Vietnam. Accordingto the businessman, the trend is attributable to positive impacts of the Vietnam-KoreaFree Trade Agreement (VKFTA) which came into force in late 2015 and theestablishment of a centre to support the deal in March of the following year. Hepointed to the fact that while the VKFTA facilitates investment in variousfields, current Korean-invested projectsin Vietnam mainly focus on the processing industry, industrial production, realestate and construction. Withthe VKFTA’s plan to lower taxes along with Vietnam’s preferential policies, thecountry’s energy sector would be able to attract more RoK investors, he said. TheRoK was the leading foreign investor in Vietnam in the first three quarters of2016 and Vietnam is currently the fourth largest foreign investment partner ofthe RoK. Accordingto Hong Sun, besides geographical advantages, Vietnam boasts a youngpopulation, hardworking labourers and stable economic development. Vietnam is amarket where businesses of the RoK can flourish because of similarcharacteristics in culture and education of the two countries. Vietnamesepeople also have high demand for products from the RoK. However,inconsistent policies and complicated administrative procedures in Vietnam posedifficulties for foreign investment. Therefore, the Vietnamese Governmentshould promote economic reform and improve the investment environment, he said.-VNA
The target of 70 billion USD in two-way trade is achievable if Vietnam and the Republic of Korea (RoK) optimise the bilateral free trade agreement (FTA).
A workshop was organised in Hanoi on December 20 to review and promote the implementation of the free trade agreement (FTA) between Vietnam and the Republic of Korea (RoK).
Trade relations between Vietnam and the Republic of Korea has reached new development milestones, with two-way trade surging 80 times to 40 billion USD in 2016 from only 0.5 billion USD in 1992.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
Workers at a Samsung's factory in Vietnam. (VNA) 
