Samsung Electronics Vietnam announced that it started construction of its largest R&D centre in Southeast Asia at the new township of Tay Ho Tay in Hanoi, Vietnam.
In addition to drawing in a lot of local homebuyers and investors, The Matrix One is also the apple of the eye of foreigners, especially South Korean, thanks to its outstanding facilities, location and ample greenery.
Vietnam is one of South Korea’s key partners, especially when both are targeting US$100 billion bilateral trade in 2020.
There will be no need to wait until next year to see new waves of South Korean investment into Vietnam, as new developments take shape on the back of the latest moves from the governments of the two countries.
Vietnam’s retail market grows at an annual rate of 10.9% in the 2013-2018 period, with most leading names in the market come from South Korea and Japan, ranging from convenience stores, department stores to e-commerce.
Vietnam is second after the United States on the list countries where South Korean people and enterprises have spent a total of $440.11 million on buying real estate in 2018, drawing in $56.1 million.
Ho Chi Minh City People’s Committee will propose the Prime Minister Nguyen Xuan Phuc to allow South Korea’s Lotte Group to continue executing its Eco-smart City project located in Thu Thiem Peninsula in District 2.
Seven projects attract 36 submissions from foreign companies, mostly South Korean and Chinese.
More investors from South Korea than those from China have submitted bids for eight sections of the North-South Expressway, according to the Ministry of Planning and Investment (MPI) at a press briefing in Hanoi on June 27.
Vietnam would continue to create favorable conditions for South Korean companies to do business in the country.
Novaland Group has signed a strategic partnership agreement with Lotte Engineering and Construction Co., Ltd, (Lotte E&C), an arm of South Korea's Lotte Group. It is the first time the Ho Chi Minh City-based property developer has appointed a foreign contractor for its high-end projects.
South Koreans are shifting to Vietnam because of not only external forces like global politics but also their internal urge for profitability. This is a win-win since their close-knit economic connections at micro levels will help Vietnam and its real estate market maintain continuous development.
It is not hard to see the industrial real estate in Vietnam is deeply influenced by a multitude of manufacturers from the East Asia nation, but it does not just stop there!
Shifting production is expected to boost LG’s annual capacity of its smartphone plant in Vietnam by 83% to 11 million handsets from the second half of 2019.
Since the first time Daewoo printed its footstep in Hanoi in December 1991, Vietnam has welcomed three waves of investment from South Korea: construction firms in 1992, garment & electronics companies in the 2000’s, and retailers in the 2010’s. This time, a new round of capital is rallying behind the financial sector and adding tension to the crowded mortgage market.