South Korea is currently the top foreign investor among 19 countries and territories investing in Vinh Phuc province, with 213 projects and US$2.37 billion. Korean investment projects, mainly located in industrial zones, largely manufacture electronic components, apparels, mechanical products and motorcycle parts.
According to the Vinh Phuc Industrial Parks Authority, Korean investors strictly comply with Vietnam's laws and policies, conduct effective business, fulfil tax obligations and generate jobs for thousands of local workers. Notable investors include Jinyoung HNS Vina Co., Ltd, Vina Korea Co., Ltd, Shinwon Ebenezer Vietnam Co., Ltd and Heasung Vina Co., Ltd (Khai Quang Industrial Park).
In the coming time, Vinh Phuc will continue to implement its own investment support policies, help enterprises with the quickest access to land; and accelerate land compensation and ground clearance to generate an available land fund for investors. The province will quickly resolve administrative procedures on investment, transparently publicize procedures relating to investment, construction, land planning and sector-specific planning on the electronic information system; and settle administrative procedures under the single-window mechanism.
By Nguyet Tham, Vietnam Business Forum