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Korea invests 24 billion USD in Vietnam processing industry

Mon, 16 Mar 2015. Last updated Sat, 28 Mar 2015 10:21

According to the statistic of Foreign Investment Department - Ministry of Planning and Investment, Vietnam processing industry has attracted more than US$ 24 billion from Korean investors.

According to the Foreign Investment Department, Korea is currently of the largest investors in Vietnam with 4,240 new projects with total registered capital of US$37.84 billion. In the first 2 months of 2015 alone, South Korea has invested in Vietnam 50 new projects and 19 increasing capital projects with a total investment of US$ 222.11 million, as investors BritishVirginIslands in the first 2 months of 2015. In the time coming, Vietnam processing industry will be invested more by Korean investors with potential projects which contributes greatly to the development of Vietnam industry in particular and Vietnam economic development in general.

 

Tea processing factory in Vietnam

 

South Korea has been investing in 51/63 provinces and cities in Vietnam. Among those, Hanoi attracts the most investment projects (885) with the total registered capital of US $5.3 billion, accounting for 14% of total registered capital. Ranking the 2nd is Thai Nguyen City with 43 projects and total investment capital of US$4.72 billion, accounting for 12.5%. Dong Nai is in the third with the total capital of US$ 4.56 billion, comprising 12.1%. Other projects are invested in other localities. Korean projects in Vietnam are implemented in 18/21 industries and fields, of which processing industry is leading with 2,566 projects and total registered capital of US $24.03 billion (64% total investment capital). Business areas of real estate in Vietnam have 82 projects with total capital of US $ 6.99 billion (accounting for 18.5% of total investment). Ranking the 3rd is construction with 579 projects and total investment capital of US $4.72 billion, accounting for 6.4%.

Some big projects of Korean investors in Vietnam in 2014:

- Samsung Thai Nguyen High-tech Complex Project - Phase 2, investor as Sam Sung Electronics Co., Ltd. Vietnam, investment project in Yen Binh I Industrial Park (Thai Nguyen province) with a total registered investment capital of US $3 billion; investment projects in manufacturing, assembling and processing of electrical products, electronics.

- Project on Samsung CE Complex by Samsung Asia Pte - Singapore investing in Ho Chi Minh City with a total registered capital of US $1.4 billion; investment project in the field of research products, high-tech electronics  and advanced software products.

- Project on Samsung Display Bac Ninh Co., Ltd. by Korean investors in Bac Ninh province with total registered capital of US $1 billion; investment projects in production, assembly and processing, marketing or selling Smartphone's screen and tablets.

 

Samsung Electronics Vietnam

 

Vietnam has been seen as the best location for business investment and expansion of many South Korean firms. Vietnam has advantages to receive many investments from South Korea such as cheap labor force, increasing improved investment environment, high economic growth rate, and favorable geographical position – the center of ASEAN. In addition, Vietnam is on the line of global integration, which contributes to making Vietnam become an attractive address of investment in the region and in the world. Such companies as Posco, Samsung, Lotte, Kumho Asiana are conducting their investments in Vietnam and hope Vietnam to be their right choice.

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