Investment promotion activities of Vinh Phuc province in Gimpo city, South Korea

On March 24, 2015, Vinh Phuc delegation visited and worked with provincial Government leaders of Gimpo city and held the investment promotion seminar of the province at headquarters of Gimpo city. At the meeting with Vinh Phuc delegation Mr. Yoo Young Rok – Major high appreciated the results of socio economic development situation of the province in the last years and impressive on dynamic of provincial leaders in reforming investment environment, positive support for South Korea’s firm in general and Gimpo’s enterprises in particular. Gimpo’s Major desired Vinh Phuc and Gimpo develop relationships, regular exchange of information between the two parties and respectfully request Vinh Phuc create the most favourable conditions for enterprises when necessary to Gimpo invest in Vinh Phuc. On behalf of the Working Group, Mr. Phung Quang Hung has affirmed the determination of the province’s leaders is to create the best conditions for foreign businesses to invest in Vinh Phuc, including Gimpo business. He emphasize and clearly the mechanisms and policies to support enterprises to invest in the province, including support for workforce training, expedited administrative procedures relating to the establishment and investment projects, grasp and solve problems timely launch of the business … and desired through the exchange activities of information between Vinh Phuc and Gimpo city will introduce business to learn about Gimpo schools, investment opportunities of Vinh Phuc in the future.

After working with leaders the Gimpo city, with effective support of the government and the Chamber of Commerce and Industry Gimpo, delegation has conducted investment promotion seminar at the headquarters of city government Gimpo. Attending the conference includes Ambassador Extraordinary and Plenipotentiary of the Socialist Republic of Vietnam in South Korea: Pham Huu Chi, Major of Gimpo City: Mr. Yoo Young Rok, Chairman of Chamber of Commerce and Industry of the Gimpo city: Mr. Lee Jung- Suk and more than 60 enterprises of the Gimpo city interested in investing in Vietnam attended the workshops. After hearing the welcome speech of the Mayor of Gimpo and Ambassador Pham Huu Chi; Mrs. Nguyen Minh Hien – Counsellor in charge of Investment has introducing an overview of the business investment environment in Vietnam; Chairman Phung Quang Hung, Head of Missions introduce investment environment and policies to attract investment, planning and development of industrial zones and the projects calling for investment. The   enterprise’s Gimpo city was very interested in the province’s investment climate,  they asked a number of questions related to policy, investment procedures in Vietnam and Vinh Phuc, such as salaries for employees, Construction of housing policy for workers; regulations on imported  100% of machinery and new equipment used; electricity, water for production; regulations on money transfers out of Vietnam; the procedure provides for the termination and dissolution of the enterprise ahead of time … The question  of the Gimpo  investors was answered  by Vietnam Embassy in Japan, Head of Missions and Head of the Industrial Zone and Management Board.

This is the first time, Vinh Phuc Province organized the seminar on investment promotion in the city of Gimpo – Gyoenggi province. Preparatory work for the workshop was conducted by January, 2015; the contents, programs and participants have been unified, thus attracting many businesses of Gimpo city to attend. The workshop has success and leaves a deep impression on leaders of the municipal government and businesses Gimpo.

Chairman of Vinh Phuc People’s Committee Phung Quang Hung spoken at the Investment Promotion Seminar held in Gimpo city of South Korea. Photo: Tran Hoai Duong.

In the afternoon, the delegation of the provincial investment promotion had a meeting with the Chamber of Commerce & Industry Gimpo city. Attending the meeting were Ms. Nguyen Minh Hien – Counsellor in charge of investment, Vietnam Embassy in Korea. Working with delegation was Mr. Lee Jung-Suk – Chairman of Chamber of Commerce & Industry Gimpo. At the working session, Mr. Phung Quang Hung – Head of Working Group would like to thank the leaders and employees Chamber of Commerce and Industry, has partnered and supported very effectively with Vinh Phuc province  to hold successfully last investment promotion seminar. Chairman expected that the Chamber of Commerce and Industry Gimpo city will be an important bridge between Gimpo and Vinh Phuc in near future, to introduce the business community known Gimpo city’s investment environment of Vinh Phuc province and Head of delegation affirmed that Vinh Phuc province will create favourable conditions for businesses of Gimpo city, efficiency business investment activities in Vinh Phuc.

Chairman of Vinh Phuc People’s Committee Phung Quang Hung answer the enterprise question city at the Seminar of Investment promotion of the Vinh Phuc province in Gimpo, South Korea. Photo: Tran Hoai Duong

Mr. Lee Jung-Suk – Chairman of Chamber of Commerce & Industry Gimpo emphasized Korea continues to consider Vietnam as an important partner in leading the Southeast Asian region, because Vietnam has political and social stability, labour force and abundant natural resources, has established a stable supply network for the operation of the business, take advantage of free markets ASEAN (AFTA) and the Agreement mechanism FTA Korea – ASEAN. Chairman of Chamber of Commerce & Industry Gimpo also hopes Free Trade Agreements was signed (FTAs), Vietnam – South Korea will open up opportunities for business cooperation of the two countries in general and between enterprise of  Gimpo and Vinh Phuc  in particular. About the Chamber of Commerce & Industry Gimpo, through exchange of information between Vinh Phuc and Gimpo will provide specific information on Vinh Phuc for businesses Gimpo city and will introduce business Gimpo to explore the investment environment of Vinh Phuc in the future.

Vinh Phuc delegation visited and worked with Chamber of Commerce and Industry of Gimpo city, South Korea, photo: Tran Hoai Duong

The meeting with Chamber of Commerce and Industry of Gimpo city has finished provincial investment promotion activities in South Korea. Next, Vinh Phuc delegation has plan to visit Singapore to organize the investment promotion activities as the schedule./.