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Vietnam Today

Vietnam keen to boost investment environment for South Korea

Released at: 15:58, 11/05/2016

Vietnam keen to boost investment environment for South Korea

Conference hears of Vietnam's commitment to facilitating the investment and operations of all foreign enterprises.

by Hoang Huong

The Vietnamese Government and State agencies are committed to creating favorable conditions and ensuring a safe and stable investment environment for foreign investors, including those from South Korea, Deputy Minister of Industry and Trade Tran Quoc Khanh told a conference held by the Embassy of the Republic of Korea in Vietnam and the Ministry of Industry and Trade (MoIT) on May 10.

The Deputy Minister also spoke of the important role foreign-invested enterprises (FIEs) play in Vietnam’s economic development.

The conference aimed to identify measures to support FIEs and address any difficulties in implementing new policies on investment, trade, taxes, exports and imports, and customs.

Deputy Director of the Export Department at MoIT, Mr. Tran Thanh Hai, told the gathering that South Korea is an important partner of Vietnam.

He also noted that the government wants foreign investors to invest in new projects and expand existing projects, in particular focusing on support industries and materials production for the textiles and footwear sector and electronics.

The production of high added value exports and the establishment of supply chains with Vietnamese enterprises to enable higher localization rates are also targets of the government.

Representatives from the Korea Trade and Investment Promotion Agency listed a number of difficulties in import tax returns, tax incentives, and certificates of origin when using materials produced in Vietnam.

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