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Vietnam, in full economic expansion, seeks to strengthen its trade and investment relations with the Republic of Korea. In this context, the Vietnamese government appeals to South Korean companies to intensify their efforts toinvestment in the advanced technologies, particularly in the areas of high technology, of theelectronic, of the semiconductors and theartificial intelligence. This promising partnership aims to leverage Korean strengths while meeting strong Vietnamese demand, creating a profitable synergy for both nations.
Vietnam is increasingly asserting itself as a preferred destination for foreign investments, particularly in the field of advanced technologies. The Vietnamese government is making every effort to attract South Korean companies by encouraging them to explore new opportunities in promising sectors such as electronics and artificial intelligence. This article examines Vietnam’s efforts to strengthen economic ties with the Republic of Korea and promote investment opportunities in advanced technologies.
Efforts to attract South Korean investment
At the Vietnam – Republic of Korea investment cooperation forum held on November 21 at the National Innovation Center (NIC) in Hanoi, Deputy Prime Minister Nguyen Hoà Binh highlighted the importance of encourage South Korean companies to increase their investments in Korean areas of expertise and Vietnamese needs. Sectors such as high technology, THE semiconductors, and theartificial intelligence are at the heart of this investment strategy.
Vietnam has become the Republic of Korea’s largest economic partner in ASEAN and one of the world’s leading trade and investment partners. The Republic of Korea, on the other hand, deployed nearly 10,000 projects in Vietnam, representing a total capital of more than 87 billion USD.
The advantages of Vietnam for investors
Vietnam has many assets that appeal to South Korean investors. On the one hand, it offers a young and dynamic workforce, with strong growth potential in key areas like electronics and the digital technologies. On the other hand, the Vietnamese government’s measures aim to improve thebusiness environment and simplify investment procedures.
Nguyen Hoà Binh also assured that Vietnam will continue to implement administrative reforms and perfect its support mechanisms for foreign businesses. These initiatives aim to ensure better competitiveness and a reduction in the difficulties faced by investors.
Collaboration in the technology sector
Vietnam and the Republic of Korea also agreed to strengthen their collaboration in key areas such as information technology and the cybersecurity. These sectors are crucial to improving Vietnam’s technological infrastructure and attracting investments towards innovative solutions.
Projects such as that of the Korean company Hyosung, which plans to invest 4 billion dollars in the country, illustrate the growing desire of South Korean companies to establish activities in high-tech areas and renewable energies.
A promising future for investments
Vietnam presents a promising vision for the future as a hub of advanced technologies. With active solicitation of South Korean investors, it aspires to become a key player on the global economic stage. By improving trust among the business community and strengthening strategic partnerships, Vietnam aims to achieve sustainable growth and continued economic transformation.
To learn more about recent economic developments related to Vietnam – Republic of Korea cooperation, see the following articles: Hanoi strengthens its trade ties And technological collaboration.