Hai Phong city works to lure more Korean investment

Representatives from Hai Phong briefed Korean investors on the northern port city's potential, advantages, investment opportunities and incentives at a trade promotion conference in Seoul, the Republic of Korea (RoK), on June 12.
Hai Phong city works to lure more Korean investment ảnh 1Secretary of the Hai Phong Party Committee Le Tien Chau speaks at the conference. (Photo: VNA)
Seoul (VNA) – Representatives from Hai Phong briefed Korean investors on the northern port city's potential, advantages, investment opportunities and incentives at a tradepromotion conference in Seoul, the Republic of Korea (RoK), on June 12.

The event was jointly held by the Hai Phong People’sCommittee and the Korea International Trade Association (KITA), with theparticipation of nearly 200 delegates who are representatives from Koreanagencies, organisations, businesses and investors.

In his remarks, Secretary of the Hai Phong PartyCommittee Le Tien Chau affirmed that the city is working to enhance its comprehensivecooperation with Korean partners, and calling for Korean investment in suchareas as smart city and e-administration building, renewable energy, semiconductorcomponent manufacturing, urban and infrastructure development, and construction of hospitals and schools.

Present at the conference, Vietnamese Ambassador tothe RoK Nguyen Vu Tung stressed that Vietnam and the RoK are leading,reciprocal partners of each other in economy, trade, investment, labour and tourism.

He cited statistics as saying that the RoK has poured81.5 billion USD into the Southeast Asian nation so far, of which nearly 10billion USD has been injected into Hai Phong, mainly in electronics, auto partsand machinery.

Hai Phong city works to lure more Korean investment ảnh 2Delegates at the conference. (Photo: VNA)
Vietnam’s total export value to the RoK through ports in Hai Phong reached 12.3 billion USD last year, while the import revenuestood at 7.8 billion USD, the official continued.

The RoK now ranks first among 42 countries andterritories investing in Hai Phong in terms of both quantity and quality ofinvestment projects, he said, adding that the city is home to 14 operationalindustrial parks and the number is expected to increase by 13 by 2025.

Hai Phong will work harder to improve its investmentenvironment, focus on infrastructure development, particularly in transport, andspeed up the formation of new industrial parks, he pledged.  

On this occasion, Hai Phong handed over investmentlicences to new Korean projects and projects permitted to adjust their existing capital with a combined capital of 230million USD./.
VNA

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