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The move is expected to help the South Korean tech giant stay competitive.

South Korean firms operating in Vietnam are the best example of the strong Vietnam – South Korea relations, according to the Vietnamese prime minister.

FDI commitments in the January – July period totaled US$18.82 billion, down 6.9% year-on-year.

By fulfiling certain criteria, some foreign investors would receive special treatment, said Minister of Planning and Investment Nguyen Chi Dung.

Competition to attract FDI in Southeast Asia would be fiercer in the coming time.

This is the right time for Vietnam to adopt a selective approach in attracting FDI inflows to better meet its needs, said Deputy Prime Minister Pham Binh Minh.

The 3.5GW La Gan project is one of the first large-scale offshore wind power projects in Vietnam.

The trade ministry is studying the Electricity Law to make clear the scope of investment of the state and the private sector in the energy industry.

Growing Chinese investment to Vietnam could turn the Southeast Asian country into a transshipment point for China to reroute its exports to a third country.

Nine of the companies are small and medium enterprises (SMEs) and six of large scale.

The holding of a dialogues between the Vietnamese government and the Korean business community demonstrates strong economic ties between Vietnam and South Korea.

All five sub-projects under the North-South Expressway project would be operated under the PPP mechanism, scheduled to commence in early 2021.

The retailer intends to expand presence to 55 of Vietnam's 63 provinces and nationally run cities, up from the current 39.

Huy Nhat, the owner of the once-famous Mon Hue restaurant chain, has been accused of cheating foreign investors out of US$100 million.

With a growing number of multinationals looking to set a foothold in Vietnam, the country is having a great opportunity from a new wave of foreign investment, according to the trade ministry.

The appetite for mergers and acquisitions (M&A) activities in Vietnam has not been dampened by the Covid-19 pandemic.

While countries across the world are still in the fight against Covid-19, Vietnam has resumed business as usual and become one of the first countries to diversify the supply chains.

Prior to the passage of the PPP law, Vietnamese authorities had been struggling to attract private capital to the country’s burgeoning infrastructure sector.

Japan considers Vietnam one of the most favorable investment destinations in Asia, said Japanese Ambassador to Vietnam Yamada Takio.

Local firms should be active in learning from their foreign partners to improve expertise and master new technologies, said an expert.