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Vinh Phuc calls for investment from Republic of Korea

The northern province of Vinh Phuc promoted its potential and called for investment at a conference held in Gyeonggi province of the Republic of Korea (RoK) on July 27.
Vinh Phuc calls for investment from Republic of Korea ảnh 1A conference to promote investment from the RoK (Illustrative photo: VNA)

Seoul (VNA) – The northern province of Vinh Phuc promotedits potential and called for investment at a conference held in Gyeonggiprovince of the Republic of Korea (RoK) on July 27.

Speaking before an audience of RoK businesspeople, Chairmanof Vinh Phuc provincial People’s Committee Nguyen Van Tri highlighted theprovince’s convenient location in Vietnam’s northern key economic zone andfavourable natural conditions suitable for industry, tourism and hi-tech agriculture.

He informed the Korean business circle that the province hasmade efforts to streamline its administrative procedures, upgradeinfrastructure, especially at industrial zones, and train the local labourforce.

The provincial leader reported that Vinh Phuc is now home tomore than 300 foreign direct investment (FDI) projects, including many run byRoK corporations such as Partron Vina, Haesung Vina, Bangjoo and Interflex.Several more RoK firms, namely Interflex, Young Poong Electronics and KoreaCircuit, are planning investments worth close to 1 billion USD in the Dong Socindustrial cluster.

He urged RoK firms consider investing in such fields assupport industry for automobile and electronic part production, farm produceprocessing, urban areas, hotels, eco-tourism, education-training and healthcare.

Vietnamese Ambassador to the RoK Nguyen Vu Tu briefed theconference on the growing strategic cooperative partnership between Vietnam andthe RoK.

The RoK is currently the top foreign investor in Vietnam withaccumulated investment of more than 60 billion USD as of July this year.Bilateral trade topped 60 billion USD in 2017, making the RoK the secondlargest trade partner of Vietnam, while Vietnam is the fourth largest tradepartner of the RoK.

Each country has around 150,000 citizens living and working inthe other country.

The ambassador said sound political ties and closepeople-to-people exchange are factors that help boost economic cooperation betweenthe two sides.
He stressed that with a high GDP growth of 6.8 percent lastyear, Vietnam is an attractive destination for investors.-VNA

VNA
#Vinh Phuc #Republic of Korea #RoK businesspeople #Vietnam’s northern key economic zone #administrative procedures #foreign direct investment #support industry #vietnamplus #Vietnam News Agency Vinh Phuc Korea (RoK)
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