South Korea Firm on Top of Investors in Vietnam

Tuan Minh

08:00 30/07/2016

BizLIVE - South Korea remains the largest director in Vietnam for five months running.

South Korea Firm on Top of Investors in Vietnam

South Korea has remained the largest investor in Vietnam since March. Photo: Internet

Foreign direct investment (FDI) pledges of South Korean companies in Vietnam reached $4.21 billion in the first seven months of this year, according to data of the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.
This amount has enabled South Korea to be the largest investor in the Southeast Asian country, the position it has taken since March this year.
Singapore has overtaken Japan to jump to the second highest position in the ranking while Taiwan holds onto the fourth place.
The northern port city of Hai Phong continues to take the lead among the most invested locality in Vietnam, with nearly $2 billion in the seven-month period.
LG Display in April won a license to carry out a $1.5 billion project to build a facility in Hai Phong that will churn out displays for mobile devices. This is the biggest project licensed in the year to date.
The Amata Long Thanh City project worth $309.3 million in the southern province of Dong Nai is the runner-up.
Samsung has reaffirmed its status of the single-largest foreign investor here with an R&D center in Hanoi that will cost $300 million.

According to the agency, total FDI pledges increased 46.9% year-on-year in the period to hit $12.94 billion. Actual FDI, meanwhile, rose 15.5% to $8.55 billion.