SKorea becomes Vietnam's biggest investor, commits 10.33 billion US dollars |
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Thu, 16 Aug 2007 11:33
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SEOUL (Thomson Financial) - South Korea has become the biggest foreign direct investor in Vietnam with its involvement in building new towns and leisure facilities, a state trade agency said Thursday.At the end of July, its direct investment reached 10.33 billion US dollars, according to the Korea Trade-Investment Promotion Agency. Singapore was second with 9.69 billion dollars, followed by Taiwan with 9.1 billion dollars, it said.In the first seven months of this year alone, South Korea's investment in the country stood at 1.43 billion dollars compared to Singapore's 1.31 billion dollars, the agency said.Vietnam has become one of South Korea's biggest business partners since they normalised relations in 1992.Bilateral trade soared to 4.85 billion dollars last year from 490 million dollars in 1992, according to South Korean figures.afp/jgzr/jgCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Vietnam 7 months trade deficit 5.45 bln usd; headed for record annual deficit 