RoK – biggest foreign investor in Hanoi

At a meeting with Chairman of the RoK-Vietnam Friendship Association Choi Yong Joo in Hanoi on November 12, Vice Chairwoman of the Hanoi People’s Committee Nguyen Thi Bich Ngoc affirmed that economic co-operation between the RoK and Vietnam as well as Hanoi has become more and more fruitful. RoK businesses mainly invest in the fields of hotels, office and urban area building.

She asked for further support and experience sharing from the RoK, especially in reducing traffic congestion, technology and the building of an electronic government.

Since 1996, the two capital cities of Hanoi and Seoul have signed a number of co-operation agreements and memorandum of understandings to step up their economic links. Notable, the Seoul government aided US$4.3 million to making a development plan for the area along the two banks of the Red River section in Hanoi.

Hanoi has also created favourable conditions for many RoK businesses such as Keangnam, Chamvit, Posco Groups to operate in the city.

RoK injects cash into Vietnam’s green growth

News - The Republic of Korea will provide Vietnam with 2 million USD between 2013 and 2014 to implement the final green growth strategy.

An agreement to this effect was signed in Hanoi on November 9 between Deputy Minister of Planning and Investment Nguyen The Phuong and Chief Representative of the Korea International Cooperation Agency (KOICA) Kim In.

Under the agreement, KOICA will help the ministry devise a roadmap to realise targets in their green growth policy.

Phuong said to achieve the development goals, improve growth quality and ensure a sustainable environment and ecology, it is essential for Vietnam to access green growth for sustainable development.

He said he believed that through the project, KOICA will help the ministry strengthen its staff’s capacity in green growth, as well as assist localities in developing green economy projects.