South Korea leads in number of new FDI projects and having capital increase in Vietnam

Not only implementing many new investment projects, Korean investors also lead in the number of adjusted projects; contributing capital, buying shares in Vietnam in the first 8 months of 2021.

Figures that the Foreign Investment Agency (Ministry of Planning and Investment) released show that, in the first eight months of the year, Korean businesses have invested in 251 new projects in Vietnam, with a total registered capital of nearly 759 million USD; adjusted 179 projects, with the total adjusted capital increased by 1.184 billion USD, along with that was 967 times of capital contribution and share purchase, with a total capital of 494.46 million USD.

Including all three forms of investment above, Korean enterprises have "poured" into Vietnam 2.438 billion USD in the first 8 months of the year, ranking third in terms of registered capital out of 141 countries and territories investing in Vietnam from the beginning of the year until now.

Korean enterprises invest in 251 new projects in Vietnam in 8 months

However, it is noted that, in terms of the number of newly registered projects, the number of adjusted projects and also the number of capital contributions and share purchases, Korean investors are leading, surpassing both Singapore and Japan, the two leading and second countries in terms of investment capital into Vietnam in the first 8 months of the year.

Assessing this phenomenon with a reporter of Bao Cong Thuong, a representative of the Association of Foreign Investment Enterprises - said that: It proves that Korean investors have a lot of confidence in the investment environment in Vietnam. Even in the context of the complicated situation of the Covid-19 epidemic, the number of newly registered and adjusted projects has not stopped increasing.

South Korea is also increasingly becoming an important investment partner of Vietnam because the investment capital flows from this country are directed towards the target and strategy of attracting FDI of Vietnam. Korean enterprises have been present in all areas of Vietnam's economy, from processing industry, manufacturing, construction, garment, finance and banking, logistics, services... contributing to economic restructuring, promoting the development of industry-construction, service and export sectors and creating jobs for about 700,000 workers in many localities across the country.

According to economic experts, the investment trend of Korean enterprises in Vietnam will continue to increase in the near future, the reason is because Vietnam's economy has a large openness and stable development, and Vietnamese ministries, branches and localities are interested in promoting foreign investment, including investment from Korea. In particular, Vietnam has been implementing the commitments of many new-generation free trade agreements, such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP); European-Vietnam Free Trade Agreement (EVFTA); Regional Comprehensive Economic Partnership (RCEP). These agreements cover about 60 economies, which are key trading partners, accounting for the majority of Vietnam's trade turnover, which promises to create new impetus for economic growth after the epidemic is under control, opening up opportunities to attract FDI, including FDI from Korea.

Accumulated up to now, Korean investors have invested in Vietnam 9,159 FDI projects, with a total registered capital of 72,346 billion USD.