Country's investors have 197 projects licensed with capital of $908.88 million in first four months.
In the first four months of this year South Korea was the largest foreign investor in Vietnam, with 197 projects worth $908.88 million in capital, accounting for 24.4 per cent of the total of $3.72 billion in foreign direct investment flowing into the country, according to the Foreign Investment Agency (FIA).
In the first quarter South Korea invested in 89 new projects, with 33 others increasing their capital, for a total of $491 million. The country maintains its place as Vietnam’s leading foreign investor.
As at March South Korea had 4,279 projects in total with registered capital of $38.1 billion. Average capital per project is about $8.9 million.
South Korean investors are involved in all sectors of Vietnam’s economy. The majority focus on the manufacturing and processing industries, with 2,758 projects and $24.6 billion in capital, accounting for 60 per cent and 64 per cent, respectively.
Hanoi has received the most interest capital-wise, with $5.3 billion in 892 projects, accounting for 21 per cent of total projects and 14 per cent of capital.
Major FDI projects of South Korean investors were issued investment licenses in the first four months. For example, the Thanh Hoa Provincial People’s Committee licensed the In Kyung Apparel Co.Kr to build a plant with total capital of $5.1 million in Dong Son district of north-central Thanh Hoa province.
The world’s largest smartphone maker and the leading hi-tech investor in Vietnam, Samsung, will outlay $1.4 billion for its Samsung CE Complex project at the Saigon Hi-Tech Park, which specializes in producing household appliances and hi-tech electronics.
It earlier invested a total of $7.5 billion in two manufacturing complexes in northern Bac Ninh and Thai Nguyen provinces.
A South Korean enterprise also invested $100 million in KMW Co., producing telecommunications and LED lighting equipment in the northern province of Ha Nam.