RoK helps Vietnam develop investment information system

08:21 | 06/05/2018 Cooperation

The Government of the Republic of Korea (RoK) will provide a non-refundable aid package worth US$5.5 million to help Vietnam carry out a project on upgrading and developing the national investment information system for 2018-2021.

At the signing ceremony of the record of discussions - Source:

A memorandum of understanding to this effect was signed between Vietnam’s Ministry of Planning and Investment (MPI) and the Korea International Cooperation Agency (KOICA) in Hanoi on May 3.

The US$6.2 million project aims to improve the ministry’s capacity for collecting, managing and analysing national database on investment, while providing online public services for investors.

It is also seen as a tool assisting localities in granting investment licences and managing projects.

MPI Deputy Minister Vu Dai Thang said the two sides committed to ensuring the progress of the project in order to contribute to promoting foreign direct investment (FDI) in Vietnam, and strengthening cooperation between Vietnam and the RoK.

According to the MPI’s Foreign Investment Agency, Vietnam has to date attracted 25,524 FDI projects valued at nearly US$320 billion.

The RoK takes the lead among 126 countries and territories investing in Vietnam, with more than 6,800 project worth over US$59 billion.

In the first four months of this year, the RoK invested and expanded investments in about 420 projects with total capital of more than US$2.3 billion, the agency said.