South Korean tops FDI list in Vietnam
South Korean tops FDI list in Vietnam
In the first four months of 2015 South Korea became the biggest foreign investor in Vietnam with 197 projects and $908.88 million in capital, making up 24.4 per cent of the total $3.72 billion in terms of foreign direct investment flowing into the country, according to a recent report by the Foreign Investment Agency (FIA).
As of March, South Korean enterprises are present in 51 of the 63 provinces nationwide, with 4,279 projects and $38.1 billion in the registered investment capital. Hanoi ranks first in attracting South Korean capital with 855 projects and the total capital of $5.3 billion. The runners-up are the northern province of Thai Nguyen and the southern province of Dong Nai with the total capital of $4.72 and $4.56 billion, respectively.
In April alone, South Korea invested an aggregate $417.82 million in 75 projects, including 54 new ones worth $360.51 million and added $57.31 million to 21 existing projects.
South Korean investors are involved in all sectors of the Vietnamese economy. The majority of them focus on the processing and manufacturing sector with 2,566 projects worth $24.03 billion. Another preferred sector is property with 82 projects and the total capital of $6.99 billion.
In the first quarter of 2015 alone, South Korea invested $445.57 million in 78 processing and manufacturing projects and $29.69 million in the wholesale-retail sector.
On April 21, the Thanh Hoa Provincial People’s Committee authorised In Kyung Apparel Co.Kr to construct a plant with the total capital of $5.1 million located in Dong Son district of the central province of Thanh Hoa.
In April, a South Korean enterprise invested $100 million in KMW Co., Ltd, located in the northern province of Ha Nam, which specialises in producing telecommunications and LED lighting equipment.
The world’s largest smartphone maker and the leading hi-tech investor in Vietnam, Samsung, will deploy a $1.4 billion Samsung CE Complex project in Saigon Hi-Tech Park, specialising in producing household appliances and hi-tech electronics.
Earlier, Samsung invested the total of $7.5 billion in two manufacturing complexes in Bac Ninh and Thai Nguyen provinces.
