Businesses from the Republic of Korea (RoK) currently operating in northern Vinh Phuc province in Vietnam have made their socio-economic contributions by financing the construction of several community facilities in the locality.

The ceremony to hand over the public works to the local authorities was held in Vinh Phuc on November 7, as part of a series of activities marking the 20th anniversary of the establishment of diplomatic ties between the two countries.

The 2.6 billion VND (123 million USD) funded by the RoK’s Trade and Investment Promotions Department and 10 private companies have helped the province build five houses for the poor, upgrade three nursery schools as well as a selection of other socially orientated projects.

Addressing the event, Deputy Minister for the RoK’s Ministry of Knowledge Economy Han Jin Hyun said he hoped that similar social activities will be applied to 2,700 other enterprises currently operating in Vietnam to raise social awareness while they do business.

The Chairman of the provincial People’s Committee, Phung Quang Hung, said that Vinh Phuc will continue to offer the best possible conditions for the RoK’s companies in particular and foreign firms in general to carry out business effectively in the province.

The RoK is the second biggest overseas investor in Vietnam. By September 2012, it had injected in excess of 24 billion USD into over 3,000 projects in the Southeast Asian country, of which 41 projects, worth a total of 241 million USD, are situated in Vinh Phuc.-VNA