Korea is the largest foreign direct investment partner of Vietnam
The Vietnam-South Korea Economic Forum held on April 20th, 2018 in Ho Chi Minh City is a valuable opportunity for the business community of the two countries to look back on the results achieved during a quarter-century, share the vision, prospects and opportunities for development cooperation in the new period, contribute to promoting and deepening the strategic cooperation partnership between Vietnam and Korea.
South Korea is the largest foreign direct investment (FDI) partner in Vietnam with 6,760 projects and $ 59 billion of registered investment capital in Vietnam. Korean companies are playing important roles in some key economic sectors of Vietnam such as electronics, energy, automobile, garment, construction, etc. contributing to the economic restructuring, creating jobs, and ensuring social security. Along with investment activities, the commercial scale between the two countries also increased, reaching $ 64 billion in 2017 after the Vietnam-South Korea Free Trade Agreement (FTA) came into force. Vietnam also welcomes and appreciates South Korea’s “New Southern Policy” towards human and peaceful goals, promoting common prosperity.
There are 5,500 Korean businesses investing in Vietnam. These enterprises have created jobs for millions of Vietnamese workers and vice versa, laborers also contribute greatly to the operation and development of Korean enterprises. It is a mutually beneficial cooperation for both parties. Vietnam has become one of the four major partners of Korea and Korea is also the number one investor in Vietnam.
At the forum, Deputy Minister of Planning and Investment – Mr. Le Quang Manh shared the message that Vietnam always considered the success of Korean enterprises as the success of Vietnamese enterprises. It is sure that in the coming time, the cooperation between the two countries will be stronger and more Korean companies will continue to see Vietnam as an ideal investment destination.
With the same thought “Success of the business is also the success of Kizuna”, Kizuna Serviced Factory is always open door to welcome Korean enterprises to invest here. With professional Korean speaking staffs and dedicated support services, there are more than 80 enterprises, including 18 Korean companies operating in Kizuna. The Korean business community here sees Kizuna as their second home, and they regularly hold meetings with the “neighbors” in the area. In March, Kizuna held a party at the beginning of the year for businesses to experience the traditional Vietnamese New Year and got enthusiastic response from them.