ASEAN - most important investment destination for Korean firms
At a ROK's factory in Ba Ria - Vung Tau province (Photo: VNA)
NDO/VNA – The Federation of Korean Industries (FKI) said on August 17 that despite the COVID-19 pandemic, investment inflows in ASEAN members states still account for 20.3% of the Republic of Korea (ROK)’s outbound investment, making the bloc its most important investment destination.
In 2014, the ROK’s investment in the Association of Southeast Asian Nations (ASEAN) reached 16.2%, surpassing China (12.9%).
The FKI’s data showed that during the 2016-2020 period, the ROK invested US$731 billion in ASEAN, up 30.4% from 2011-2015. Meanwhile, the figure in China was US$698.9 billion, up 10.4%.
It suggested the ROK soon approve the ROK-Cambodia Free Trade Agreement, the ROK-Indonesia Comprehensive Economic Partnership Agreement, and resume commercial flights to major investment countries in the region.
According to the FKI, the ROK Government should step up policy support to make it easier for Korean firms to join infrastructure projects in ASEAN member states such as Indonesia and Thailand.
- Remarks by President Nguyen Xuan Phuc at Summit on Ending the Pandemic and Building Back Better
- PV Gas, US corporation move to implement Son My LNG port warehouse project
- Thuỷ mặc artist, film director die in HCM City
- ‘Hustle Culture’: Why Do Millennials Have Sleep Issues?
- Vietnamese FM holds bilateral meetings with foreign diplomats
PV Gas, US corporation move to implement Son My LNG port warehouse project
ROK firms pour US$2.43 billion into Vietnam in eight months
Vietnam to facilitate US investment projects, says minister
President Nguyen Xuan Phuc receives leaders of US enterprises in New York
Fitch Ratings ranks PetroVietnam's Standalone Credit Profile at 'BB+'