Hung Yen Province seeks to woo South Korean investors
The Saigon Times Daily
HCMC - Hung Yen Province and the Korea Chamber of Commerce and Industry (KCCI) held a conference at the headquarters of KCCI in Seoul last week to present potentials of the province and invite Korean businesses to do business to Hung Yen, Vietnamplus reported.
Kang Ho-min of KCCI said many Korean enterprises had set up shop in Hung Yen, so this conference would be a good opportunity for Korean enterprises to learn more about the province.
Speaking at the conference, Vietnam’s Deputy Chief of Mission in Korea, Tran Anh Vu, said Korea has become the largest foreign investor in Vietnam with total investment pledges amounting to more than US$50 billion and the number of active Korean firms in Vietnam reaching 5,600.
The Korean enterprises, including Samsung, LG, Hyundai, Kia, Lotte, Posco, Shinhan, Hyosung and Hanwha, contribute 30% to Vietnam’s export revenues and employ about 700,000 local workers.
With a population of 1.2 million people, Hung Yen Province has about 550,000 young and well-trained workers. The province’s economy has achieved high growth, at an annual rate of more than 8%.
Chairman of Hung Yen Nguyen Van Phong said Hung Yen has sped up investment in infrastructure and human resources while making the business environment more favorable. He said he expected more Korean firms would come to Hung Yen for business and investment.
Also at the conference, representatives of Hung Yen Province and Korean companies signed two memorandums of understanding on development of a 3,000-hectare industrial park and construction and operation of a waste treatment plant in Hung Yen.