Seoul (VNA) – After joining the World Trade Organisation (WTO), Viet Nam is to enjoy greater foreign direct investment, especially from the Republic of Korea, said the LG Economic Research Institute.
An announcement of Dec. 27 by the LG institute said that Viet Nam’s gaining official WTO membership has been selected as one of the ten important world events likely to have substantial impacts on the Republic of Korea (RoK)’s economy.
“Viet Nam is about to enjoy higher foreign investment inflow after joining the WTO this year. It will further open its economy to global trade and step up its reform to remove some regulatory hindrances to foreign investment,” the announcement said.
Joining the world largest trade body would also help reduce unpredictable upheavals still prevalent in Viet Nam, an emerging economy, it added.
The RoK now is taking the lead among foreign investors in Viet Nam, owning 200 projects with a total registered capital of 2.2 billion USD, the Korean Trade Investment Promotion Agency (KOTRA) reported. In 2006, the RoK’s investment in Viet nam almost tripled as compared to 770 million USD in 2005.
RoK heavyweights such as Posco, Samsung, Lotte and Kumho Asiana have been pumping more investment into Viet Nam, considering the country as a long-term strategic market in Asia.- Enditem |