Ho Chi Minh City has appealed to the Republic of Korea forinvestments in infrastructure modernisation, the support industry, hightechnology, personnel development, labour cooperation and environmentalprotection, the Saigon Giai phong newspaper reported.
The southern metropolis is committed to protecting the legitimaterights and interests of foreign investors and ensuring a stablepolitical and social environment for businesses to operate effectivelyand sustainably in the city, Vice Chairman of the municipal People’sCommittee Nguyen Huu Tin said at a workshop in Busan city on May 28.
He highlighted the 20-year twin relationship between the two cities,adding that HCM City is home to more than 320 representative offices runby RoK companies, with the RoK ranking fourth in terms of foreigndirect investment (FDI) capital in the city.
Vietnamese trade with the RoK has increased 44-fold over the past twodecades. Furthermore, the recently signed free trade agreement (FTA)between the two countries has opened up more opportunities for Koreanbusinesses to invest in Vietnam due to the country’s transparentinvestment policies.
Deputy Mayor of BusanKim Kyu-Ok said around 10 Busan companies are registering to attend theMachinery Expo in HCM City in July, and the Korean city will sendexperts to survey trade activities in HCM City in October.
During the workshop, the Saigon Trading Group (SATRA) signed aMemorandum of Understanding (MoU) on a 1 million USD contract to importgoods from the RoK’s Elade Co. Ltd.
The groupsigned another MoU with Heartychem Corp. on a 3 million USD contract toexport sliced cassava, pressed rice husk firewood and consumer goods.
Vice Chairman Tin granted investment licences to the Tae Kwang Groupand Daeyoung Electronics Company. The former will build a 39.6 millionUSD fertilizer plant with a capacity of 360,000 tonnes a year, while thelatter will invest in a 63 million USD project to produce LED screensand electronic components in the Vietnamese southern economic hub.
That same day, Secretary of the HCM City Party Committee Le Thanh Haiand Busan Mayor Suh Byung Soo held talks to review the 20-year-oldfriendship between the two cities.
TheVietnamese official called upon Busan authorities to persuade moreKorean businesses to invest in HCM City and Vietnam in general,especially in the support industry, hi-tech agriculture, training, artand cultural exchanges.
He revealed that the city will open a representative office in Busan to support business activities.
After the talks, the two leaders signed off on the 2015-2020cooperation programme with comprises a number of important objectives,such as sharing information on the countries- respective investmentclimates and business opportunities; promoting trade; and forging linksbetween urban, public sector and financial agencies.
Ho Chi Minh City has established friendly ties with 38localities around the world, including Busan one of the mostlongstanding and effective municipal collaborations.-VNA
The southern metropolis is committed to protecting the legitimaterights and interests of foreign investors and ensuring a stablepolitical and social environment for businesses to operate effectivelyand sustainably in the city, Vice Chairman of the municipal People’sCommittee Nguyen Huu Tin said at a workshop in Busan city on May 28.
He highlighted the 20-year twin relationship between the two cities,adding that HCM City is home to more than 320 representative offices runby RoK companies, with the RoK ranking fourth in terms of foreigndirect investment (FDI) capital in the city.
Vietnamese trade with the RoK has increased 44-fold over the past twodecades. Furthermore, the recently signed free trade agreement (FTA)between the two countries has opened up more opportunities for Koreanbusinesses to invest in Vietnam due to the country’s transparentinvestment policies.
Deputy Mayor of BusanKim Kyu-Ok said around 10 Busan companies are registering to attend theMachinery Expo in HCM City in July, and the Korean city will sendexperts to survey trade activities in HCM City in October.
During the workshop, the Saigon Trading Group (SATRA) signed aMemorandum of Understanding (MoU) on a 1 million USD contract to importgoods from the RoK’s Elade Co. Ltd.
The groupsigned another MoU with Heartychem Corp. on a 3 million USD contract toexport sliced cassava, pressed rice husk firewood and consumer goods.
Vice Chairman Tin granted investment licences to the Tae Kwang Groupand Daeyoung Electronics Company. The former will build a 39.6 millionUSD fertilizer plant with a capacity of 360,000 tonnes a year, while thelatter will invest in a 63 million USD project to produce LED screensand electronic components in the Vietnamese southern economic hub.
That same day, Secretary of the HCM City Party Committee Le Thanh Haiand Busan Mayor Suh Byung Soo held talks to review the 20-year-oldfriendship between the two cities.
TheVietnamese official called upon Busan authorities to persuade moreKorean businesses to invest in HCM City and Vietnam in general,especially in the support industry, hi-tech agriculture, training, artand cultural exchanges.
He revealed that the city will open a representative office in Busan to support business activities.
After the talks, the two leaders signed off on the 2015-2020cooperation programme with comprises a number of important objectives,such as sharing information on the countries- respective investmentclimates and business opportunities; promoting trade; and forging linksbetween urban, public sector and financial agencies.
Ho Chi Minh City has established friendly ties with 38localities around the world, including Busan one of the mostlongstanding and effective municipal collaborations.-VNA
