Vinh Phuc calls for investment from Republic of Korea
The northern province of Vinh Phuc promoted its potential and called for investment at a conference held in Gyeonggi province of the Republic of Korea (RoK) on July 27.
A conference to promote investment from the RoK (Illustrative photo: VNA)
Seoul (VNA) –♏ The northern province of Vinh Phuc promotedits potential and called for investment at a conference held in Gyeonggiprovince of the Republic of Korea (RoK) on July 27.
Speaking before an audience of RoK businesspeople, Chairmanof Vinh Phuc provincial People’s Committee Nguyen Van Tri highlighted theprovince’s convenient location in Vietnam’s northern key economic zone andfavourable natural conditions suitable for industry, tourism and hi-tech agriculture. He informed the Korean business circle that the province hasmade efforts to streamline its administrative procedures, upgradeinfrastructure, especially at industrial zones, and train the local labourforce. The provincial leader reported that Vinh Phuc is now home tomore than 300 foreign direct investment (FDI) projects, including many run byRoK corporations such as Partron Vina, Haesung Vina, Bangjoo and Interflex.Several more RoK firms, namely Interflex, Young Poong Electronics and KoreaCircuit, are planning investments worth close to 1 billion USD in the Dong Socindustrial cluster. He urged RoK firms consider investing in such fields assupport industry for automobile and electronic part production, farm produceprocessing, urban areas, hotels, eco-tourism, education-training and healthcare. Vietnamese Ambassador to the RoK Nguyen Vu Tu briefed theconference on the growing strategic cooperative partnership between Vietnam andthe RoK. The RoK is currently the top foreign investor in Vietnam withaccumulated investment of more than 60 billion USD as of July this year.Bilateral trade topped 60 billion USD in 2017, making the RoK the secondlargest trade partner of Vietnam, while Vietnam is the fourth largest tradepartner of the RoK. Each country has around 150,000 citizens living and working inthe other country.
The ambassador said sound political ties and closepeople-to-people exchange are factors that help boost economic cooperation betweenthe two sides. 𝔉 He stressed that with a high GDP growth of 6.8 percent lastyear, Vietnam is an attractive destination for investors.-VNA
The northern province of Vinh Phuc has granted investment licenses to two projects from the Republic of Korea (RoK), raising the total capital from RoK firms to over 1.36 billion USD.
Construction of a factory manufacturing metal components recently kicked off at the Ba Thien II Industrial Zone in Binh Xuyen district of the northern province of Vinh Phuc.
A Vietnamese company has won a bid to export 60,000 tonnes of Japonica brown rice to the Republic of Korea (RoK), defeating competition from rivals of China, Thailand and Australia.
A B2B meeting was organised by the VCCI and K-Fish Trade Support Centre in HCM City, providing opportunities for 12 firms from the RoK and 50 local seafood companies to seek and foster partnerships.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
A conference to promote investment from the RoK (Illustrative photo: VNA) 
