A memorandum of understanding to this effect was signed between Vietnam’s Ministry of Planning and Investment (MPI) and the Korea International Cooperation Agency (KOICA) in Hanoi on May 3.

The USD 6.2 million project aims to improve the ministry’s capacity for collecting, managing and analyzing national database on investment, while providing online public services for investors.

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At the signing ceremony of the record of discussions. Source: baodauthau.vn

It is also seen as a tool assisting localities in granting investment licenses and managing projects.

MPI Deputy Minister Vu Dai Thang said the two sides committed to ensuring the progress of the project in order to contribute to promoting foreign direct investment (FDI) in Vietnam, and strengthening cooperation between Vietnam and the RoK.

According to the MPI’s Foreign Investment Agency, Vietnam has to date attracted 25,524 FDI projects valued at nearly USD 320 billion.

The RoK takes the lead among 126 countries and territories investing in Vietnam, with more than 6,800 project worth over USD 59 billion.

In the first four months of this year, the RoK invested and expanded investments in about 420 projects with total capital of more than USD 2.3 billion, the agency said.

Source: VNA