Korean businessmen believe the positive outlook of the Vietnamese economy
Kim Sang Yeol, Việt Nam honorable Consul General in Gwangju-Chonnam region, president of the Korean Broadcasting System (KBS) and Hoban Construction Company
Loading of container for transport by ship at Chua Ve port, Hải Phòng. (Source: Lâm Khánh/TTXVN)
Việt Nam has achieved great socio-economic achievements after implementing open reform policies over the past 30 years.
With many reforms implemented during this time, the Việtnamese economy has gained momentum to develop, helping the country get out of its “world’s poor country” status.
The average GDP growth of over 6 per cent a year has helped Việt Nam become a leading, fast- growing country in the ASEAN +3 region. I believe that the reform efforts that the Vietnamese Government has pursued will continue to push forward the Vietnamese economy in the time to come.
The Republic of Korea’s (RoK) investment in Việt Nam in 2017 has exceeded US$50 billion, more than three times that of 2012, making RoK the largest investor in Việt Nam. The two-way trade has also doubled, reaching $42 billion.
With common determination and efforts of governments and the people of the two countries, the Việt Nam-RoK strategic partnership in the time to come will have stronger and more intensive development in all aspects.
Việt Nam is a potential and attractive market with many favorable opportunities for foreign businesses in general and Korean businesses in particular to boost their business and investment activities. The Vietnamese Government has made a lot of efforts to accelerate economic reforms, administrative procedures, and has issued many preferential policies calling for investment.
These opportunities are very favourable for businesses to promote investment in Việt Nam in infrastructure construction, mechanics-electronics, hi-tech agriculture, finance-banking and supporting industries.
In addition, Việt Nam is in the period of “golden population, with abundant human resources and competitive labour costs.”
Regarding the role and position of Việt Nam in international and regional cooperation forums, especially in APEC 2017, Việt Nam is an active and innovative member economy. It has made important contributions to many international and regional cooperation mechanisms.
