South Korean enterprises will continue abundantly investing in Vietnam in the coming years, noted visiting National Assembly (NA) Chairman Kim Won-ki with his Vietnamese counterpart Nguyen Van An at a meeting in Hanoi on January 15, 2006.
"For the past five years, South Korea has become the second largest foreign investor in Vietnam, and we will share our experience of reform and our policy of opening up at a parliamentary level," Kim, who led a delegation of 20 business people arriving in Vietnam last Saturday said.
The foreign senior official thanked An’s for his pledge to create favorable conditions for Korean entrepreneurs to do business in Vietnam.
He also agreed with An’s proposal that Korean enterprises should invest more in the manufacturing industry.
Later, the two leaders sign a parliamentary-level agreement to boost relation and exchanges between their offices.
Also, they witnessed the signing of a memorandum of understanding saying that the Buyoung Corporation will contribute US$10 millions to the country's education system, along with US$2 million to build a new bus terminal outside Hanoi (Ha Dong Town).
Kim planed to tour Vietnam in four day till January 18. He is scheduled to meet with Vietnamese President Tran Duc Luong, Prime Minister Phan Van Khai and other high-ranking government officials to discuss ways to improve economic and political ties.
In the first 11 months of this year, Korean investors pledged nearly US$492 million into 168 projects in Vietnam. Up to 81.7 per cent of the projects are in industry and construction, while only 6.7 per cent of them are in agro-forestry and aquaculture.
This year bilateral trade is targeted to hit US$4 billion, a slight rise compared with last year figure of US$3.9 billion. Vietnam exported seafood, garment, crude oil, footwear, coffee, and rubber to South Korea and imported raw materials, machines, steel, computers, electronic components, automobiles and fertilizer from the country.
In 2005, the South Korean government affirmed to grant US$480 million in ODA to countries worldwide, US$114 million more than last year's figure.
P.V
Vietnamese
