RoK steel businesses eye investment opportunities in Vietnam
Several steel businesses from the Republic of Korea (RoK) have outlined their plans to promote investments in the Vietnamese market, according to the Vietnam Chamber of Commerce and Industry (VCCI).
CEO of S&M Media Jung Won Bae said both big and small steel businesses from the RoK are keen on entering the Vietnamese market, noting that the country’s political stability in comparison with other emerging economies has gained the confidence of RoK businesses who have begun injecting their own capital into the market.
Additionally, amid the escalating US-China trade war, many RoK steel manufacturers are planning to relocate their production facilities from China to Vietnam in order to avoid tariffs from the US.
Additionally, amid the escalating US-China trade war, many RoK steel manufacturers are planning to relocate their production facilities from China to Vietnam in order to avoid tariffs from the US.
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