Transport infrastructure attracts Korean businesses

Seoul (VNA) - Transport infrastructure is an attractive investment field in Vietnam while the acceleration of equitising State-owned enterprises in the country will create brilliant opportunities for businesses from the Republic of Korea (RoK).

Vice President of the Korea Financial Investment Association (KOFIA) Chang Soo Han made the evaluation at a workshop held in Seoul on December 15.

He said the Vietnam-RoK free trade agreement, which came into effect at the end of 2015, has contributed to expanding the bilateral economic cooperation.

Despite global economic crisis, Vietnam has maintained its average annual economic growth of 5-6 percent, he said, adding that the signing of the Trans-Pacific Partnership (TPP) agreement and the engagement in the ASEAN Economic Community (AEC) have made Vietnam become a big potential investment destination.

Additionally, the Vietnamese Government is enacting a number of measures to attract foreign financial investment such as removing the foreign ownership limits in the stock market and expanding the equitisation of State-run businesses, which have helped improve the local investment environment, he noted.

According to Vietnamese Ambassador to the RoK Pham Huu Chi, after 30 years of rennovation, Vietnam has developed into a middle-income country.

In the 2011-2015 period, Vietnam recorded an annual average gross domestic product (GDP) growth of about 6 percent with the following years higher than previous ones, he ​said.

The RoK is one of the biggest overseas investors in Vietnam with 5,656 projects worth 51.5 billion USD, he ​added.

He added that the Vietnamese Government is exerting every effort to improve the market economy institution, legal framework, and administrative procedures as well as increase quality of human resources and infrastructure under the public-private partnership (PPP) model./.


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