S.Korean firms bullish on Vietnam’s long-term prospects

Vietnam is the preferred investment destination for the next five to 10 years for more than 50 percent of South Korean firms already operating in this country, the Korean Chamber of Commerce and Industry said.

The firms consider Vietnam the most suitable place for medium-and long-term investment, the chamber said in a report released Monday following a survey of 250 firms.

Most of them also plan to expand business operations in Vietnam this year. Only around 4.5 percent of them are considering downsizing production and 2 percent are planning to move to a third country, it said.

Skilled labor, abundance of raw materials and incentives offered to foreign enterprises remain some of the key reasons to invest in the country, the report said.

Nhu Nguyen

Thanh nien

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