Viet Nam ranks 3rd destination for RoK investors

13/02/2008 -- 4:19 PM

Seoul (VNA) – The Republic of Korea’s overseas direct investment rose nearly 50 percent in 2007 from a year earlier and Viet Nam was the third largest investment destination for RoK companies, accounting for 9.2 percent, according to a government report released on February 13. According to the report by the Ministry of Finance and Economy, China was the largest destination for RoK investment, with 23.5 percent of the total overseas investment of 27.64 billion USD and the US came next with 15.7 percent. The increase in foreign investment from RoK companies was attributed to government’s eased regulations that aim at boosting overseas investment after the nation was hit by the Asia-wide financial crisis in 1997. Another drive for the growth was local firms' rush to develop resources and new markets, the ministry said. Investments by large conglomerates jumped 31.7 percent, and those by small and medium enterprises surged 89.9 percent, it added. The ministry, however, noted that RoK overseas investment accounted for only 5.3 percent of its gross domestic product (GDP) as of the end of 2006, far less than the average 30.7 percent for advanced countries.- Enditem
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