Opportunity for South Korean Businesses to Invest in Nghe An Province

11:54:04 PM | 22/7/2013

The governing People’s Committee of Nghe An province coordinated with the South Korean Embassy in Vietnam and the Korea Trade and Investment Promotion Agency (KOTRA) to organise a conference to promote investment from South Korea to the central province of Nghe An at Daewoo Hotel in Hanoi on July 12, 2013.
Distinguished participants included Mr Vuong Dinh Hue, Head of the Central Economic Commission; Mr Dao Quang Thu, Deputy Minister of Planning and Investment; Mr Jun Dae Joo, South Korean Ambassador to Vietnam; Mr Ho Duc Phoc, Secretary of Nghe An Provincial Party Committee; and Mr Nguyen Xuan Duong, Chairman of Nghe An Provincial People’s Committee. The event also drew the attendance of 400 representatives from State management agencies, academies, and Vietnamese and Nghe An companies, as well as 200 South Korean companies and investors from Vietnam and other countries seeking investment opportunities in Nghe An province.
Nghe An is giving priority and support to potential industries like processing, mechanical engineering, electronics, information technology, new material, cement, subcontracting and infrastructure. The province is calling investment capital into Vinh City, Cua Lo Town, Southern Economic Zone along with the Nam Nghe - Bac Ha (southern Nghe An province - northern Ha Tinh province) region, Hoang Mai and Dong Hoi areas associated with Nam Thanh - Bac Nghe (southern Thanh Hoa province - northern Nghe An province) region; and Nghia Dan, Tan Ky and Quy Hop areas with the western region of Nghe An province.
To date, Nghe An province has licensed 11 South Korea-invested projects worth approximately US$70 million. Typical companies include BSE Electronics, Haivina Kim Lien amd Frex Vinh Garment. These are important foundations for the province to draw more investors from South Korea in the coming time.