Korean investment in Viet Nam up 82 per cent

Wednesday, Aug 12, 2015 23:37

Workers manufacture electronic spare parts at Power Logics Vina company of Korea in Vinh Phuc province. — Photo TTXVN

HA NOI (Biz Hub) – Korean investment in Viet Nam increased by 82.2 per cent in the first half of this year, the Korean Ministry of Strategy and Finance has announced.

It has been a mixed bag elsewhere for the country, with its investment rising in the US and Singapore but falling in Europe and China.

Korean companies invested a total of US$17.45 billion abroad in the first half, a year-on-year increase of 12.1 per cent, mostly in wholesale and retail distribution, finance, insurance, and mining, the ministry said.

In Viet Nam Korea is the top investor this year with total registered capital worth $1.52 billion.

Samsung Display opened its $1 million plant in March in the northern province of Bac Ninh to produce high-resolution displays for smart phones in Viet Nam and around the world.

On May 19 Samsung started work on a $1.4 billion project in HCM City.

A $5billion complex is expected to be built by a South Korean firm near the Ba Son Shipyard in HCM City, with construction by EUNSAN & OUE Group expected to begin on September 2. — VNS

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