Mr. Vu Tien Loc (left), Chairman of Vietnam Chamber of Commerce and Industry, received a Korean business delegation recently
A delegation of around 120 leading South Korean enterprises will tour Vietnam early next month to explore the investment environment in the fast growing economy, said an official from the Ministry of Planning and Investment (MPI).
Head of the MPI’s Foreign Investment Department Phan Huu Thang said that the visit led by South Korean Industry, Commerce and Energy Minister is on occasion of Vietnam-South Korea Business Forum, which is scheduled to open in this July 3.
To prepare for the event, an another South Korean mission including 40 entrepreneurs, who arrived in Vietnam June 18, suggested that the upcoming forum should focus on the areas of macro policies, commerce and services, natural resources and environment, information technology and energy.
They also is seeking permission from the Vietnamese government to set up a joint taskforce to assist South Korean companies to invest in the Southeast-Asian market.
Between January and May this year, South Korean firms poured US$733.8 million into 105 projects in Vietnam, becoming the second largest investor in the country, just after Singapore.
Currently, more South Korean enterprises are seeking to increase their investment, or shift representative offices from China to Vietnam, as up to 51.8 per cent of South Korean firms operating in China reported losses due to expensive labor, said a Vietnamese newspaper.
Economists forecast that South Korean investors will open more projects in Southeast-Asian region in the coming time, including Vietnam, instead of traditional markets like the US, Canada and Australia. (Capital Security)
Vietnamese
