The Republic of Korea (RoK) was the top foreign investor in Vietnam with total new and expanded investments of 6.2 billion USD through October 2015, according to a report released on November 9.
The Republic of Korea (RoK) was the top foreign investor in Vietnam with total new and expanded investments of 6.2 billion USD through October 2015, according to a report released on November 9.
The report released by the Foreign Investment Agency (FIA), of the Ministry of Planning and Investment, showed that RoK had 583 new projects with total registered capital of 2.3 billion USD, and 257 expanded projects in the 10-month period with total registered capital of 3.9 billion USD.
Most of these projects were foreign direct investment (FDI) projects, the report revealed.
Malaysia was the second largest investor with total investment of 2.5 billion USD, followed by Japan and the United Kingdom, with total investments of 1.48 billion USD and 1.27 billion USD, respectively.
RoK invested in 16 sectors, mainly in processing and manufacturing industries, with total investment of 5.63 billion USD, or 90.3 percent of their registered capital, during the period.
Electrical production and supply industry was the second largest field, with 200 million USD total investment, accounting for 3.2 percent of RoK capital.
As for the locations, they invested in 41 provinces in Vietnam during the first 10 months.
The northern province of Bac Ninh attracted most of RoK investment in the reviewed time, with 3.33 billion USD, followed by southern Dong Nai province with 401.9 million USD and northern Hai Phong city, with 305.7 million USD.
In the first 10 months, Vietnam attracted 19.29 billion USD of FDI projects, a year–on–year increase of 40.8 percent. Meanwhile, FDI disbursement posted a 16.3 percent increase to 11.8 billion USD, reported the FIA.-VNA
Ranked first among countries and territories investing in Vietnam, the Republic of Korea (RoK) has also gained the confidence of Vietnamese market over the two past decades thanks to its leading brand names of Daewoo, Huyndai, LG, Samsung, with more than 3,000 valid projects worth 23.65 billion USD.
Vietnam’s most attractive sectors for RoK investors are processing industries, manufacturing real estate, construction and transport. They focus on the most dynamic economic areas of Hanoi, Ba Ria – Vung Tau province, Ho Chi Minh City and Dong Nai province.
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Illustrative image (Photo:VNA)
