RoK businesses appreciate Binh Duong’s investment climate hinh anh 1At the meeting (Photo: VNA)
Binh Duong (VNA) – Enterprises from the Republic of Korea (RoK) have highly valued the investment climate in the southern province of Binh Duong, which boasts great administrative reform, potential for development, and policies to facilitate businesses.

A delegation of representatives from 30 RoK businesses operating in the fields of cosmetics, garments and textiles, electronics, and construction, led by Vice President of the Korean Chamber of Commerce and Industry Jeong Ki-ok, had a working session with local authorities on December 6 to explore investment cooperation opportunities in the province.

Vice Chairman of the provincial People’s Committee Mai Hung Dung spoke highly of the RoK firms’ contributions to local socio-economic development, saying that besides fully implementing policies relating to production and business activities, they have also paid due attention to social welfare for employees.

According to him, Binh Duong, located in the southern key economic region, now ranks fourth in Vietnam in the size of economy and makes up 10 percent of the country’s export value.

It comes third nationwide in attracting foreign investment (after Ho Chi Minh City and Hanoi), with more than 3,500 projects worth over 31 billion USD. Of which, 2,100 projects with registered capital of 21 billion USD, or 67 percent, are based in industrial parks.

Among 63 countries and territories investing in Binh Duong, the RoK is the fourth largest investor – behind Taiwan, Singapore, and Japan – with over 700 projects capitalised at nearly 3 billion USD, accounting for 9.3 percent of total foreign investment in the province.

Dung informed that Binh Duong will step up attracting investment to high-quality services, support industries, urban development, and high-tech agriculture, as well as build a system to promote its potential. The province will focus on implementing a project on smart city building based on the model of state-business-school cooperation.

Earlier, the Korean business delegation visited several industrial parks and RoK companies operating in the locality. –VNA