Several of South Korea’s enterprises expected to invest in Vinh Phuc province

The mission included Mr. Ha Hoa Binh – Member of Provincial Party Standing committee, Deputy of Permanent Chairman of People’s Committee; leader of Provincial People’s Council; Directors of departments and agencies and Chairman of Peoples’ Committee of districts in the province. In the afternoon of April 11, 2014. Mission has organized successfully on investment promotion conference in the Seoul Capital – Korea. Ambassador extraordinary and Plenipotentiary of Socialist Republic of Vietnam attended and delivery speech on investment climate in Vietnam. This conference has attracted nearly 70 enterprises and Korea’s associations to attend.

Nearly 70 enterprises and association of Korea has attended the conference on Investment promotion of Vinh Phuc province in Mark Hotel, Seoul Capital – Korea

Vietnam and South Korea has established friendship and cooperation relations more than 20 year, this relationship increase closely and developed a strategic cooperative partnership. Currently relationship is lifting into new heights, many new opportunities was opened up for Vietnam and Vinh Phuc province on investment attraction, trade exchange.

By the end of March, 2014, Vinh Phuc has attracted 59 direct investment project from South Korea, with a total of registered capital  of nearly 510 USA million, it was ranked the first position on number of projects, the second rate  implementing capital and third on the total of registered capital (after Taiwan and Japan). In Vinh Phuc, The communities of the enterprise are strongly growth in Korea, great contributions for the socio economic development of the province. Vinh  Phuc province has identified that South Korea is the traditional market, abundant potential on investment, especially in electronic industry, garment, cosmetic, urban construction, transportation infrastructure; vocational training.

At the conference, Mr. Pham Van Vong emphasized that from awareness to action, Vinh Phuc is always considers the resources from foreign direct investment is crucial for growth and economic structure in the province, therefore the province always offered for FDI enterprises with special attention, creating the most favorable condition for enterprises; to take the drastic measures in leading and guiding, operating timely to remove the difficulties for enterprises.

Introduction on investment climate and the policies on provincial investment supporting, Mr. Nguyen Tien Hanh – Deputy Head office of PPC cum Director of Vinh Phuc Investment Promotion has analyzed the advantages and the differences of investment climate in Vinh Phuc province. It  has been confirmed that Mr. O-Sung Kwon – representative of Sindoh Korean has delivered  speech in the conference, would appreciated on investment climate of the province, especially in  administrative procedure on investment was resolving rapidly and convenient, from the provincial leaders to people are extremely interest and creating the favorable condition for project. After nearing half of year of researching the investment climate in Philippine, and several provinces and cities in the whole Vietnam country, November, 2013 the enterprise has decided to invest in manufacturing project of advance office machinery with the total investment capital of 30 USD mil.

At the end of the conference, several Korean investors have expected to seek the investment opportunities and practical survey, included: Huyndai Power Company (HPSM), Samyang Reduction Gear Company, Zenis Int L Company, Hanshin Construction and Design Company, SK Securities Company, Gold Power Trade Company,

This conference on investment promotion has scheduled and prepared carefully by Vinh Phuc province in the beginning of 2014. This workshop was supported efficiently and actively Ambassador of Socialist Republic of Vietnam in Korea and Korean Chamber of Commerce and Industry, would have good success.

The same day, Vinh Phuc’s mission visited the Ambassador of Socialist Republic of Vietnam in South Korea. Mr. Pham  Huu Chi – Ambassador extraordinary and Plenipotentiary and numerous officials and Embassy staff has hosted closely and worked with mission. Mr. Pham Van Vong expressed his sincerely thanks to Embassy and ambassador given priority for Vinh Phuc province with effective support, at the same time requested Embassy continues to support comprehensively, especially in playing the connecting role for Korean enterprises invested in Vinh Phuc./.