MPI statistics show Vietnam has so far attracted 37,238 valid FDI projects capitalised at US$447.65 billion from 143 countries and territories around the world as of the end of May 2023.

The RoK took the lead with 9,666 projects valued at US$81.5 billion, followed by Singapore (3,240 projects - US$73.384 billion) and Japan (5,091 projects - US$69,628 billion).

During the five-month period, Korean investors injected US$666.52 million into 167 newly-registered projects, 122 projects which had their capital adjusted, and 364 capital contributions and share purchases in the country.

The MPI statistics also show that Korean investment into the Vietnamese market has witnessed a 20-fold rise from US$3.8 billion in 2013 to US$81.5 billion in the 2013 - 2022 period, turning it into the nation’s largest foreign investor.

Most notably, several leading Korean business groups including Samsung, LG, Posco, and Keangnam have initiated projects worth billions of US dollars in Vietnam. Samsung Electronics alone views Vietnam as its global production base.

Korean giants like Samsung and LG have actively contributed to Vietnamese socio-economic development, accelerating the development of the electronics industry, which currently contributes nearly 20% of the total value of the industrial sector.

Furthermore, RoK enterprises have also assisted Vietnamese firms in joining the global supply chain, as more than 250 Vietnamese enterprises have become tier-one and tier-two vendors for Samsung.

Hong Sun, chairman of the Korean Chamber of Business in Vietnam, said Korean enterprises are upbeat on the Vietnamese business climate, especially in the country’s green growth strategy.

Moreover, Korean investors are also interested in high-tech fields in the country, such as semiconductor chip production and car batteries.

Sharing this perspective, Choi Joo Ho, general director of Samsung Vietnam, also praised the investment environment in the country, affirming that the RoK continues to view Vietnam as an attractive investment destination moving forward.

The visit made by a delegation of 205 leading Korean businesses accompanying the RoK President Yoon Sul-yeol from June 22 to 25 therefore proves their keen interest in the Vietnamese market.

According to economic experts, Vietnam needs to continue to improve its infrastructure, including transport and electricity infrastructure, to meet the requirements necessary for the high-quality projects of Korean enterprises.

Source: VOV