Speaking before an audience of RoK businesspeople, Chairman of Vinh Phuc provincial People’s Committee Nguyen Van Tri highlighted the province’s convenient location in Vietnam’s northern key economic zone and favourable natural conditions suitable for industry, tourism and hi-tech agriculture.
He informed the Korean business circle that the province has made efforts to streamline its administrative procedures, upgrade infrastructure, especially at industrial zones, and train the local labour force.
The provincial leader reported that Vinh Phuc is now home to more than 300 foreign direct investment (FDI) projects, including many run by RoK corporations such as Partron Vina, Haesung Vina, Bangjoo and Interflex. Several more RoK firms, namely Interflex, Young Poong Electronics and Korea Circuit, are planning investments worth close to US$1 billion in the Dong Soc industrial cluster.
He urged RoK firms consider investing in such fields as support industry for automobile and electronic part production, farm produce processing, urban areas, hotels, eco-tourism, education-training and health care.
Vietnamese Ambassador to the RoK Nguyen Vu Tu briefed the conference on the growing strategic cooperative partnership between Vietnam and the RoK. The ambassador said sound political ties and close people-to-people exchange are factors that help boost economic cooperation between the two sides.
He stressed that with a high GDP growth of 6.8% last year, Vietnam is an attractive destination for investors.