Korean firms pour US$2.43 billion into Vietnam in eight months

Businesses from the Republic of Korea (RoK) poured over 2.43 billion USD into Vietnam in the first eight months of 2021, ranking third in terms of total registered capital after Singapore and Japan.

Korean firms pour US$2.43 billion into Vietnam in eight months

According to the Foreign Investment Agency under the Ministry of Industry and Trade, RoK firms invested in 251 new projects worth nearly 759 million USD and pumped an additional 1.18 trillion USD into 179 existing projects. Meanwhile, their capital contributions and share purchases reached 494.46 million USD.

With 9,159 valid projects worth 72.34 billion USD, the RoK now is the biggest foreign investor in Vietnam, the agency said.

This proves that RoK businesses have great confidence in Vietnam’s investment environment, Vice Chairman of the Vietnam Association of Foreign-Invested Enterprises Nguyen Van Toan told the Cong Thuong (Industry and Trade) newspaper.

Despite the complicated developments of the COVID-19 pandemic, the number of newly-registered and capital-added projects invested by Korean firms is still increasing.

 

Nearly 60 Vietnamese localities nationwide have attracted investment from the RoK, led by the northern province of Bac Ninh with 957 projects worth 10.7 billion USD, accounting for 14.9 percent of the northeast Asian country’s total investment in Vietnam.

The RoK’s investment projects have been quickly disbursed, significantly contributing to socio-economic growth and development in the Southeast Asian country, Toan said.

RoK firms’ projects mainly focus on the processing and manufacturing industry with 4,543 projects totaling 53.1 billion USD, making up 73.5 percent of the country’s investment total in Vietnam./.

Source: VNA

Korean conglomerate buys 16.3 percent stake in Vietnam's largest retailer

Korean conglomerate buys 16.3 percent stake in Vietnam's largest retailer

Korean conglomerate SK Group said it will make a strategic investment in VinCommerce, Vietnam’s largest retailer, to tap into the fast-growing e-commerce segment in the Southeast Asian market, reported Yonhap News Agency.

 
 

Other News

.
FTAs momentum for Vietnam's exports
FTAs momentum for Vietnam's exports
BUSINESSicon  24/11/2021 

Since joining the World Trade Organisation 15 years ago, Viet Nam has become a part of 17 FTAs, which are either under negotiation or underway. This has helped create a momentum for the country's exports.

Textile - garment industry may flourish in 2022: insiders
Textile - garment industry may flourish in 2022: insiders
BUSINESSicon  24/11/2021 

The textile - garment industry is expected to thrive and earn 40 billion USD in exports next year, when the COVID-19 pandemic is forecast to ease in Vietnam and the world.

VIETNAM BUSINESS NEWS NOVEMBER 23
VIETNAM BUSINESS NEWS NOVEMBER 23
BUSINESSicon  23/11/2021 

Demand for industrial, logistics estates at core of enquiries next year: Savills

Enterprises of agricultural export to China strive to adapt to new market regulations after COVID-19 impacts
Enterprises of agricultural export to China strive to adapt to new market regulations after COVID-19 impacts
BUSINESSicon  23/11/2021 

China's increasing demand for imports of high-quality agricultural products has contributed to boosting the recovery of domestic production and export after the COVID-19 pandemic impacts.

Vietnam - US trade likely to reach 100 billion USD this year
Vietnam - US trade likely to reach 100 billion USD this year
BUSINESSicon  23/11/2021 

Vietnam–US trade could hit 100 billion USD in this year, up 221 times against the figure in 1995 when the two countries normalised relations.

Special working groups set up to speed up public disbursement
Special working groups set up to speed up public disbursement
BUSINESSicon  23/11/2021 

Prime Minister Pham Minh Chinh has decided to establish six working groups to accelerate the disbursement of public investment capital in 2021 at ministries, agencies and localities.

Vietnamese investors pour money into realty bonds despite China’s Evergrande case
Vietnamese investors pour money into realty bonds despite China’s Evergrande case
FEATUREicon  24/11/2021 

Realty bonds often catch special attention in the primary market thanks to attractive interest rates, even though warnings are often issued about their risks.

Vietnam Airlines to fly non-stop to US
Vietnam Airlines to fly non-stop to US
FEATUREicon  24/11/2021 

The first commercial flight from HCM City to the West Coast of the US is scheduled to take off on November 28, 2021. Vietnam Airlines’ CEO Le Hong Ha talks about the opening of the special air route.

Enterprises of agricultural export to China strive to adapt to new market regulations after COVID-19 impacts
Enterprises of agricultural export to China strive to adapt to new market regulations after COVID-19 impacts
BUSINESSicon  23/11/2021 

China's increasing demand for imports of high-quality agricultural products has contributed to boosting the recovery of domestic production and export after the COVID-19 pandemic impacts.

Petrol, animal feed, fertilizer prices cause higher production costs
Petrol, animal feed, fertilizer prices cause higher production costs
FEATUREicon  23/11/2021 

The increase in price of fuels and input materials of many products has occurred in 2021. Notably, the price fever of many commodities has not shown any signs of "cooling down".

Vietnam eyes 4 GW offshore wind power capacity by 2030
Vietnam eyes 4 GW offshore wind power capacity by 2030
BUSINESSicon  23/11/2021 

Vietnam will increase offshore wind power capacity to 4 GW from 1 GW and onshore wind power capacity to nearly 17.34 GW from about 1.26 GW by 2030, according to the latest draft of the National Power Development Plan VIII.

Use of Fintech services rises 3.5 times in 4 years in Vietnam
Use of Fintech services rises 3.5 times in 4 years in Vietnam
BUSINESSicon  23/11/2021 

In only four years, the rate of Vietnamese using services of Fintech companies has increased from 16% to 56%. 

Garment and textile exports likely to reach US$38 billion this year
Garment and textile exports likely to reach US$38 billion this year
BUSINESSicon  23/11/2021 

With export turnover surging by 11% to reach approximately US$32 billion during the past 10 months of the year, the local garment and textile industry is anticipated to rake in roughly US$38 billion this year.

Banks await more foreign strategic investors
Banks await more foreign strategic investors
BUSINESSicon  22/11/2021 

Several banks are currently issuing dividend paying shares as well as making strong efforts in finding more foreign strategic investors to increase capital. 

Famous businesswomen meet in prison because of land irregularities
Famous businesswomen meet in prison because of land irregularities
FEATUREicon  23/11/2021 

Nguyen Thi Loan, Chau Thi Thu Nga, Pham Thi Tuyet Nhung and Truong Thi Kim Soan, once famous businesswomen in the real estate market, have had to pay for their illegal business affairs.

Trading value at stock market reaches record high
Trading value at stock market reaches record high
FEATUREicon  22/11/2021 

Cash keeps flowing into the stock market, including during trading sessions when the VN Index falls.

VIETNAM BUSINESS NEWS NOVEMBER 22
VIETNAM BUSINESS NEWS NOVEMBER 22
BUSINESSicon  22/11/2021 

Vietnamese Ambassador to Australia Nguyen Tat Thanh attended a ceremony to inaugurate the Vietnam-Australia Trade and Investment Promotion Centre on November 20.

Vietnam's import-export revenue forecast to hit new record in 2021
Vietnam's import-export revenue forecast to hit new record in 2021
BUSINESSicon  22/11/2021 

The Ministry of Industry and Trade (MoIT) has forecast that total import-export revenue this year may reach a new record, at between 640 - 645 billion USD, with a slight trade deficit.

Vietnam – RoK Industrial Park to take shape in Hung Yen
Vietnam – RoK Industrial Park to take shape in Hung Yen
BUSINESSicon  22/11/2021 

The northern province of Hung Yen has issued a decision on the establishment of the Vietnam – Republic of Korea Economic Cooperation Industrial Park (IP).

Land prices rise in suburban Hanoi due to planning rumours
Land prices rise in suburban Hanoi due to planning rumours
BUSINESSicon  22/11/2021 

The Hanoi property market is once again seeing a wave of increased land prices in suburban areas, thanks to rumours of some districts being developed under the model of "city within a city".

 
 
 
Leave your comment on an article

OR QUICK LOGIN