Together with the European Union-Vietnam Free Trade Agreements (EVFTA) and the agreements as signed with WTO, CPTPP, and RCEP, Vietnam has become a potential market for foreign partners in comparison with other countries in the region. Among the count...
Together with the European Union-Vietnam Free Trade Agreements (EVFTA) and the agreements as signed with WTO, CPTPP, and RCEP, Vietnam has become a potential market for foreign partners in comparison with other countries in the region. Among the countries have been investing in Vietnam, it must refer to South Korea.
At present, South Korea is the leading investor in Vietnam with more than 9,000 enterprises and the total accumulated investment capital as of October 2020 achieved nearly 70.4 billion USD, accounting for 18.5% of total FDI capital that have been invested in Vietnam with 8,934 projects. In addition to the amount of capital, South Korea is gradually becoming an important investment partner of Vietnam because the investment capital flow from this country is being directed towards the strategic goal of attracting FDI capital of Vietnam. Korean Enterprises have been present in all areas of the Vietnamese economy, from the field of garment to electronics, infrastructure to energy, automobiles to aerospace, real estate to banking finance, start-up to equitization of State-owned Enterprises, logistics to services... Thereby, it has contributed to restructure the economy, promote the fields of industry-construction, agriculture, tourism, services, export... Therefore, the Government of Vietnam is gradually perfecting the legal framework for the investment field, contributing to attract the investment from countries around the world, including South Korea. For this reason, the investors of South Korea who have been and will continue to invest in Vietnam must have a thorough grasp of Investment Law in Vietnam that is extremely necessary. So, this article will present generally, the history overview of taking form of the investment law in Vietnam as well as new and outstanding points in the latest investment law in Vietnam and inadequacies in the process of applying with this new law. It makes recommendations for revisions to the new law to be applied more fully.