Business

Yen Bai calls for investment from RoK

The northern mountainous province of Yen Bai has pledged to create favourable conditions for businesses from the Republic of Korea (RoK) investing in the province.
Yen Bai calls for investment from RoK ảnh 1Chairwoman of the provincial People’s Committee Pham Thi Thanh Tra is introducing the province's investment oppotunities to investors. (Source: baoyenbai.com.vn)

Yen Bai (VNA) – The northern mountainous province of Yen Bai has pledged to create favourable conditions for businesses from the Republic of Korea (RoK) investing in the province.

At a conference on promoting investment opportunities in the locality opened in Hanoi on April 15, Chairwoman of the provincial People’s Committee Pham Thi Thanh Tra asserted that foreign investors will enjoy preferential treatment in land and water surface leasing, site clearance, infrastructure building, and taxes.

Tra noted that Yen Bai has reformed its administrative procedures, helping foreign investors save time and costs. The province has also organised monthly seminars to link local authorities with investors in order to solve promptly their difficulties.

RoK Ambassador to Vietnam Jun Dae-joo spoke highly of Yen Bai’s advantages in mineral resources and hoped that the RoK’s investment in the locality will increase in the future.

He affirmed that he will do his utmost to bring more potential Korean investors to the province.

At the conference, a cooperation agreement was signed between the provincial People’s Committee and the Korean Chamber of Commerce and Industry (KCCI) and the LG Electronics Vietnam Hai Phong Co., Ltd.

Currently, there are six RoK enterprises investing in Yen Bai with a total investment capital of 26.3 billion USD, mainly in garment and infrastructure sectors.-VNA

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