RoK’s direct investment in Vietnam reaches US$23 billion
  • | VOV | October 05, 2010 07:21 AM

Vietnam-RoK relations have developed well over the past 18 years with two-way trade reaching from US$500 million in 1992 to US$9.5 billion this year.

The Republic of Korea’s Consul General in HCM City, Kim Sang Yoon said at a ceremony to mark the RoK’s National Day on October 4 that the RoK remained the biggest investor in Vietnam with US$23 billion and ranked second in the number of tourists to Vietnam with about 368,000 visitors up to July 2010.

President of the Ho Chi Minh City’s Vietnam-RoK Friendship Association Vu Van Hoa expressed thanks to the RoK in general for the country’s national construction and defense, particularly in HCM City. Vietnam is the nation receiving the most aids from the RoK with US$985 million from the Economic Development Cooperation Fund (EDCF). In addition, the RoK has also granted Official Development Assistance (ODA) to develop infrastructure, education, health, environment in Vietnam.

Friendship between Vietnam and the Republic of Korea has strongly developed in recent years, especially in fields such as tourism, cultural and sports exchange, and studying abroad. The Vietnam-RoK Friendship Association said around 54, 000 Vietnamese students have been studying in the RoK and thousands of Vietnamese brides are living in the country. Vietnam also now has thousands of RoK families.

On the occasion, Mr Hoa expressed wish to pay special attention to lives of Vietnamese citizens in the RoK, as well as facilitating the integration of Vietnamese labourers in the RoK

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