Vinh Phuc Continuing to Seek Investment Opportunities from Korea

During the working trip to Korea, on April 1, the delegation of Vinh Phuc province led by Mr. Tran Duy Dong, Chairman of the Provincial People's Committee, worked with the leaders of Gyeonggi province, the most populous province in Korea, introducing the investment environment of Vinh Phuc to the business community of Gyeonggi province.

Chairman of the Provincial People's Committee, Tran Duy Dong shared impressive figures with 237 Korean enterprises investing in Vinh Phuc, with a total investment capital of more than 3.1 billion USD, which is a clear result of the business efficiency in the locality. With many potentials and advantages such as a favorable geographical location, synchronous infrastructure, and the government accompanying businesses, Vinh Phuc is an attractive destination for domestic and foreign investors. Currently, Vinh Phuc is the center of automobile, motorbike, and electronic equipment production in the North of Vietnam; There have been many large Korean enterprises and many large corporations of other countries investing in Vinh Phuc such as: BH Flex, Cammsys, Young Poong Group, Patron, Heasung (Korea), Toyota, Honda, Sumitomo (Japan), Prime Group (Thailand), Piaggio (Italy), De Heus (Netherlands) ...

The provincial leaders also informed about the socio-economic development situation of Vinh Phuc in recent years, Vinh Phuc has always been in the TOP of Vietnam in attracting investment, introducing the potential and advantages of the province in developing industries, especially the processing and manufacturing industry, electronic components production which is the strength of Korean enterprises.

In the development process, Vinh Phuc has a close relationship with many localities in Korea. the investment and business environment in this locality has become a launching pad to help Korean enterprises develop and grow rapidly, bringing economic benefits and revenue to the budget. Therefore, this locality hopes that the government and business community of Gyeonggi province will continue to pay attention to and strengthen cooperation with Vinh Phuc province, investing in more industrial projects with modern technology and high added value. Specifically, regarding friendly collaboration, it is proposed that the two provinces officially establish a friendly relationship and soon sign a Memorandum of Understanding on friendly collaboration. Regarding the field of urban planning, to develop towards a smart city, a livable city, Vinh Phuc hopes that Gyeonggi province will share its experience in this field. Regarding the field of investment promotion cooperation, it is proposed that Gyeonggi province and Gyeonggi businesses further explore cooperation and investment opportunities in Vinh Phuc province in areas where Geyonggi has strengths such as: high-tech industry; mechanical engineering industry; chemical industry, especially cosmetics production; tourism services, healthcare and education. In addition, it will expand the business market and improve cooperation in other areas such as education, culture, health, etc.

On this occasion, Chairman of the Provincial People's Committee Tran Duy Dong visited and worked with the leaders of Samsung Group (Korea), emphasizing that Samsung's suppliers in Vinh Phuc are playing an important role in increasing the high-tech content of the local economy. He requested Samsung to continue to pay attention and consider expanding investment in Vinh Phuc, especially in the fields of semiconductor technology, green industry, and environmental friendliness. Vinh Phuc is committed to creating all favorable conditions in terms of policies, infrastructure and support services so that Samsung and other Korean enterprises can develop sustainably in the province.

By Le Hien, Vietnam Business Forum