Business

Bac Ninh, RoK step up cooperation in urban development

Projects carried out by investors from the Republic of Korea (RoK) in the northern province of Bac Ninh are expected to create a highlight in the locality’s urban development in the coming years, Secretary of the provincial Party Committee Nguyen Anh Tuan said on July 16.

Secretary of the provincial Party Committee Nguyen Anh Tuan (R) and visiting RoK Minister of Land, Infrastructure and Transport Park Sang Woo (Photo: VNA)
Secretary of the provincial Party Committee Nguyen Anh Tuan (R) and visiting RoK Minister of Land, Infrastructure and Transport Park Sang Woo (Photo: VNA)

Bac Ninh (VNA) – Projects carried out by investors from the Republic of Korea (RoK) in the northern province of Bac Ninh are expected to create a highlight in the locality’s urban development in the coming years, Secretary of the provincial Party Committee Nguyen Anh Tuan said on July 16.

Hosting a reception for visiting RoK Minister of Land, Infrastructure and Transport Park Sang Woo, Tuan briefed the guest on local socio-economic achievements, high-quality human resources, and sound policies that have helped the province lure nearly 28 billion USD in more than 2,300 foreign direct investment projects from 41 countries and territories worldwide.

Korean firms have landed investments and run successful business in Bac Ninh and Vietnam as a whole, contributing to deepening the Comprehensive Strategic Partnership between the two nations, he said, adding the RoK, a leading investor in the province with nearly 1,000 projects worth 14.65 billion USD, has contributed greatly to the local socio-economic development.

As the General Director of the Korea Land and Housing Corporation (LH) for years, Park hastened the signing of the Memoranda of Understanding on Vietnam – RoK partnership on urban areas growth in June 2023, and urban areas development in Bac Ninh’s southeastern region earlier this month, Tuan said, expressing his belief that with its management system, financial capacity and experience, LH will prepare necessary conditions at the earliest to carry out cooperation activities and possibly implement the project with the province in the coming time.

Bac Ninh pledges to create favourable conditions for and join hands with the corporation to successfully concretise the document, he underscored, adding the project, upon completion, will be a standout example for the sound cooperation between the two nations, and between the RoK and the province in particular.

Laying a stress on the locality’s various potential projects, Tuan said he hopes that Park will continue introducing Korean firms to the province.

Park, for his part, spoke highly of Bac Ninh’s strategic location as well as its business climate and investment policies, saying the RoK, boasting experience in urban areas development, will continue support for the province so that it will successfully develop its new urban areas in the future.

Earlier, the RoK ministry’s working delegation made a field trip to the Golden Park social housing complex in Que Vo township./.

VNA
#urban development #FDI projects #MoU #LH corporation #new urban areas Bac Ninh Korea (RoK)
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