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Korean investment increases 53.7% in 2006

18
Jun '07
Ever since Vietnam's accession to World Trade Organisation (WTO), the business environment for textile industry in the country has changed, as it has become an attractive investment destination for many countries, one among them is Republic of Korea (RoK).

Korea Trade-Investment Promotion Agency (KOTRA) is urging many textile business enterprises to move their plants to Vietnam.

Statistics from KOTRA reveals that in 2006, textile companies from Korea have increased their investment by 53.7 percent over 2005. Among top 20 textile exporters in Viet Nam six are from Republic of Korea.

Vietnam is the second-largest investment destination for the RoK textile industry, after China as labour cost is quite low in the country. Government also attracts foreign investors by through various incentive programmes.


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