Business Assistance Center for Koreans to Be Opened in VN

The Korea Trade-Investment Promotion Agency (KOTRA) will establish a center to assist Korean enterprises operating in Viet Nam.

Representatives of Korean Ministry of Construction visit local Lilama Building Corp. to study the investment environment of Viet Nam (Photo: T.Kh.)

KOTRA Ha Noi’s General Director Young Woong Kim said the establishment of the center, which will begin operation in early May, is a response to demands from the Korean community of investors.

The center will supply Korean companies who have or will invest in Viet Nam with information regarding the investment environment here.
He believes that the center will boost trade between the two countries and increase the number of potential investors from Korea.
South Korean investment in Viet Nam has steadily increased during recent years, reaching US$2.8 billion in 2006, which translates into 34.2 percent of the total foreign investment, the General Director said.

The business environment in Viet Nam is both profitable and convenient for South Korean investors, Mr. Kim said.
In addition, similarities in culture between the two countries have facilitated business by Korean traders and investors, many of whom have recently shifted their investment from China to Viet Nam, he added.

Source: VCCI – Translated by Yen Chuong

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