More than 700 enterprises of Vietnam and the Republic of Korea (RoK) took part in a business forum in Seoul on November 28 that was expected to help trigger a new wave of Korean investment in Vietnam.

Chairman of the Hanoi People's Committee Nguyen Duc Chung (R) presents cooperation documents to Korean investors at the forum in Seoul on November 28 

At the event, 33 cooperation documents were handed over to Korean investors who plan to invest 19.35 billion USD in Vietnam in the time ahead. 

Of the sum, the investors intend to pour 15.135 billion USD into the capital city of Hanoi, focusing on such fields as urban and industrial infrastructure development, green and smart city building, shopping centre and hotel complex, and hi-tech agriculture.

In his speech, Korean Deputy Prime Minister Hong Nam-ki said Vietnam is a key partner in the RoK’s New Southern Policy.

He stressed the Korean government will create the best possible conditions and coordinate closely with its Vietnamese counterpart to promote investment and trade activities. It pledges to deal with the difficulties facing cooperation projects so as to facilitate their implementation.

For his part, Vietnamese Prime Minister Nguyen Xuan Phuc, who was on an official visit to the RoK, briefed local businesses about major economic achievements of Vietnam recently, vowing to create optimal conditions for Korean investors to carry out projects, thus contributing to economic development in both nations.

During the trip, Hanoi officials also had a meeting with businesses of the RoK to introduce the Vietnamese capital’s investment climate and opportunities for Korean investors here.