Aggressively Improving Business Investment Environment

10:44:50 AM | 11/8/2019

Korea is now one important partner of Quang Nam province as it has invested in a large number of big manufacturing projects. To learn more about this, Vietnam Business Forum Magazine has an exclusive interview with Mr. Huynh Khanh Toan, Standing Vice Chairman of Quang Nam Provincial People’s Committee. Hoang Lam reports.

Could you please brief on the most outstanding events in comprehensive cooperation relationship between Quang Nam province and Korean localities?

Korea is now one important partner of Quang Nam province as it has invested in a large number of big manufacturing projects. Most Korea-invested projects in Quang Nam province are operating effectively and contributing significantly to the local development. In addition, Quang Nam province has enlisted tens of millions of US dollars from the official assistance (ODA) fund of the Korean Government for such areas as health, education and community development.

Korean nongovernmental organizations (NGOs) has granted aid worth of US$500,000 for health, education and rural agriculture in Quang Nam province. Currently, the Korea International Cooperation Agency (KOICA) is actively working with relevant agencies and units of Quang Nam to complete the US$9-million smart city plan in Tam Ky City, funded by non-refundable aid from the Korean Government.

Cultural exchanges between Quang Nam province and Korean partners and localities are becoming more and more vibrant and diverse. A clear highlight for the Quang Nam - Korea cultural exchange relationship is Tam Thanh Mural Village Project. This place had the honor of welcoming Madam Kim Jung-Sook, wife of Korean President Moon Jae In, to visit and join the “Art for a Better Community” Event on the sidelines of APEC Summit 2017. The event “Korean Cultural Day in Quang Nam Province” was held with many cultural and art exchange programs and activities performed by art troupes of Quang Nam and Korea and by students of Quang Nam University and Korea. The Korean Film Week featured various economic and tourism stories. The “Korean Cultural Days in Hoi An” is held every year by Quang Nam province in collaboration with the Embassy of the Republic of Korea in Vietnam and the Korea Culture Center in Vietnam with a lot of cultural and artistic exchange activities that reportedly help strengthen mutual understanding, tighten friendship and cooperation between Quang Nam and Korean localities and partners in cultural exchange, diplomacy and tourism.

To date, Quang Nam has established friendly cooperation relations with three Korean localities and one partner: Osan City, Gyeonggi Province (in 2004); Yongin City, Gyeonggi Province (in 2013); Gwangyang City, Jeonnam Province (in 2017); Dongduk Women's University (in 2018).

The Quang Nam - Osan friendship cooperation has produced many good results. The two localities regularly maintain and develop deep relationships over the years. Osan City is willing to form friendly and cooperative relations with Quang Nam province. The fruition of cooperation ties has been seen in experience sharing, people-to-people exchange, art performance and investment promotion.

With other localities and partners like Yongin, Gwangyang and Dongduk Women’s University, Quang Nam province always maintains exchange and promotion activities and upholds mutual cooperation activities.

In addition, Quang Nam localities have established twin sister ties with three Korean localities: Tam Ky City - Dalseo District, Daegu City (established in 2011); Nam Tra My District - Hamyang County, Gyeongnam Province (in 2015); and Dien Ngoc Ward, Dien Ban Town - Namchon Ward, Osan City (in 2015). The localities always maintain relative visits, exchange shuttle delegations, and initially study cooperation in agriculture, education and training, tourism development and people-to-people exchanges.

How have you endeavored to tighten close ties with Korean localities?

To expand cooperation ties as above, we are, first of all, consistent with our active integration policy and international cooperation policy to expand cooperation ties with foreign countries, including Korea.

We place priority of cooperation with Korean partners in industry, modern agriculture, science and technology, culture, education, and people-to-people exchange and always attach much importance to effective implementation of cooperation contents signed with Korean localities, provide most favorable conditions for partners and always receive them with respect, goodwill and friendship.

What should you do in order to increase foreign investment, especially from Korea?

Strongly improving the business investment environment and creating favorable conditions for businesses and investors are defined by the province as a key element, a regular task to enhance competitiveness and attract investment resources for socioeconomic development. In recent years, we have issued many resolutions, directives, decisions and policies to enhance the outcome of investment attraction, business support and investor facilitation. Currently, Quang Nam is home to 188 foreign direct investment (FDI) projects with a total investment of US$5.9 billion. Korea has most projects: 54 projects and over US$500 million. However, the investment attraction outcome in recent years is still incommensurate with local available potential and advantages. Therefore, in the context of deeper international economic integration and stronger-than-ever investment flow relocation, Quang Nam province has been constantly developing and changing its appearance to become a land of investment opportunities.

To more closely work with enterprises, including Koreans, in the coming time, we will focus on infrastructure development in industrial parks, interconnect key traffic systems to create driving areas for development; improve quality of human resources trained by local universities, colleges and vocational schools; remove obstacles faced by investors in land compensation and resident resettlement to hand over investment locations to investors to launch their projects in the quickest manner; carry out consistent and drastic solutions to deal with obstacles in receiving and settling investment, land, construction procedures  to reduce the time to complete legal procedures for investors.

At the same time, the province will focus on stimulating existing investors to woo others to Quang Nam and build the image of Quang Nam as a dynamic, reliable and successful destination for investors. This is a very effective information channel because successful investors in Quang Nam will be the best messengers to recommend new investors to Quang Nam, help the province to build a solid foundation to pursue rapid and sustainable development and become a well-developed locality in the region.

On the occasion of the Vietnam-Korea Business Summit in Chu Lai Complex, do you have any message to deliver to partners and investors, especially Korean investors?

The Vietnam-Korea Business Summit, which takes place at Chu Lai Complex, is a very important event for Quang Nam and Vietnam. This is a great honor for Quang Nam because the event is held at the Convention Center, Thaco Chu Lai Complex. Potential, natural advantages, people, investment policies and incentives of Quang Nam province will be introduced to Korean investors at this event.

With the trust of existing Korean investors, Quang Nam province pledges to accompany foreign businesses and investors, especially Korean investors, when they carry out projects in the province. The province will provide the most favorable conditions for them to launch investment projects and develop business.

Thank you very much!