Nearly 800 foreign firms learn about Vietnamese market

The Ministry of Industry and Trade yesterday hosted a trade promotion conference with the attendance of nearly 800 foreign businesses, who have come to learn about consumption demand as well as investment opportunities in Vietnam.

Electronic component manufacturing has attracted many foreign firms to seek investment opportunities (Photo: SGGP)

Electronic component manufacturing has attracted many foreign firms to seek investment opportunities (Photo: SGGP)

The 800 businesses come from 15 nations including South Korea, the US, Italy, the Netherlands, China, Taiwan (China) and Thailand. They mainly operate in fields such as electricity-electronics, tech products, accessories, machines and components, building materials, interior and exterior decorating items, beverage and beauty products.
A representative from Korea Trade-Investment Promotion Agency said that Korean businesses appreciated investment potentials in Vietnam especially when Vietnam Korea Free Trade Agreement has been passed.
Since 2010, investment capital from South Korea to Vietnam has been triple to reach US$50 billion making it the largest foreign investor in Vietnam. Bilateral trade has been double to $42.8 billion. Korean investors have concentrated in processing, manufacturing and real estate fields.
In addition, China is estimated to be one of Vietnam’s five largest investors in the upcoming time.
Mr. Vo Tan Thanh, deputy chairman of the Vietnam Chamber of Commerce and Industry, said that recent study results by Business Monitor International show that Vietnam has become one of five most attractive investment destinations in Southeast Asia.
Electricity and electronics, processing and manufacturing fields have continued posting two digit growth rate this year. HCMC takes the lead in investment attraction potential in the country.

By MINH XUAN – Translated by Hai Mien

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