On the evening of August 25, the Provincial People's Committee and the Korean Business Association in Vietnam (Kocham) jointly organized the Nghe An - Kocham Investment Connection Workshop.
Attending the workshop, on the side of Nghe An province, there were comrades: Nguyen Duc Trung - Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee; Bui Dinh Long - Vice Chairman of the Provincial People's Committee; leaders of departments, branches and 3 enterprises investing in industrial park infrastructure: VSIP, WHA, Hoang Thinh Dat.
On the side of the Korean Business Association in Vietnam, there were Mr. Hong Sun - Chairman of the Korean Business Association in Vietnam; Executive Board of the Association, leaders of Korean businesses and Korean businesses in Nghe An.
Speaking at the workshop, Chairman of the Provincial People's Committee Nguyen Duc Trung sent a warm welcome to the delegation of the Korean Business Association in Vietnam who visited and studied and surveyed investment in Nghe An province.
Nghe An is like a miniature Vietnam, with full natural terrain of mountains, plains, sea, and border. Nghe An is a locality with a large area, large population, full of traffic infrastructure conditions, meeting the requirements of investors. In recent years, Nghe An has focused on improving the environment to attract investors to the province.
Nghe An has the 12th largest economy out of 63 provinces and cities and has seen positive growth in recent years. In particular, Nghe An's FDI attraction has achieved positive results, ranking 10th out of 63 provinces and cities in 2022; in the first 8 months of the year, it ranked 8th out of 63 provinces and cities with a total capital of 890 million USD. This demonstrates the efforts of the government, sectors, localities, and enterprises in improving the investment environment.
The Chairman of the Provincial People's Committee emphasized that the relationship between Nghe An and Korean partners is still relatively modest. In terms of trade, Nghe An province's export turnover to Korea in 2022 reached 231.9 million USD and in the first 6 months of 2023 reached 148.71 million USD. Imports from Korea in 2022 reached nearly 206.1 million USD and in the first 6 months of 2023 reached 129.34 million USD.
Currently, Nghe An province has 24 projects of Korean enterprises with a total investment capital of nearly 170 million USD. These enterprises operate effectively in the fields of garment, electronic components manufacturing, telecommunications equipment... creating jobs for about 15,000 workers, promoting exports and contributing to the provincial budget.
The head of Nghe An Provincial People's Committee said that Vietnam and South Korea established diplomatic relations in 1992 and upgraded the relationship to "Comprehensive Strategic Partnership" in 2022. South Korea is Vietnam's leading partner, especially in the field of investment with 83 billion USD, ranking first among countries investing in Vietnam. However, the investment results of Korean enterprises in Nghe An are still modest compared to the potential that can be achieved, ranking only 34th out of 63 provinces and cities nationwide.
To attract investors, Nghe An has recently prepared the most favorable conditions for investors, which the province calls "5 ready". Nghe An is ready in planning and connecting infrastructure through the highway system passing through the province that is about to be completed. The province is implementing the project to upgrade and expand Vinh International Airport; calling for investment in larger-scale seaports to meet the transportation needs of investors.
The province has prepared land, especially industrial parks. Currently, the province has 5 industrial parks with an area of 2,000 hectares, including 3 capable and experienced industrial park investors: WHA, VSIP, Hoang Thinh Dat. These investors have made positive contributions to Nghe An's investment sector in recent times.
On the other hand, the province has prepared human resources. Nghe An currently has 3.4 million people, of which 1.6 million are of working age. Currently, there are many training facilities in the province to meet the demand for human resource training.
In particular, in recent times, the province has promoted administrative procedure reform in association with the spirit of accompanying and serving investors when they come to learn, survey investment and implement projects in the province. There are projects where the province completes procedures to issue investment certificates within 5 working days. Nghe An agrees that the success and development of investors is also the success and contribution to the development of the province.
The Chairman of the Provincial People's Committee emphasized that today's workshop is the first step for the two sides to connect and cooperate long-term and attract more Korean enterprises to invest in Nghe An in the coming time with a methodical, practical, effective manner, worthy of the potential that can be achieved.
Nghe An prioritizes enterprises operating in the fields of processing and manufacturing, production of electronic components, new energy, new materials, using high technology, and being environmentally friendly. Nghe An pursues the viewpoint of not trading the environment for economic growth.
Speaking at the workshop, Mr. Hong Sun - Chairman of the Korean Business Association in Vietnam thanked the leaders of Nghe An province for the warm and respectful reception of the Korean business delegation coming to survey investment in Nghe An province.
Mr. Hong Sun agreed with the assessment that the investment results of Korean enterprises in Nghe An province are not commensurate with the potential and relationship between the two sides. Currently, Kocham is establishing branches in localities, hoping that in the near future, a Kocham branch will be established in Nghe An province.
The Chairman of the Korean Business Association in Vietnam recalled the visit to Vietnam by the Korean President with the participation of major Korean economic groups in late June 2023 and affirmed that Korea considers Vietnam an important partner.
On that basis, Mr. Hong Sun hopes that Nghe An and Korean enterprises will have a more appropriate cooperative relationship, after the workshop, many enterprises will be interested in Nghe An to invest in projects. Kocham will closely connect and accompany the province and hope to have the highest support from Nghe An province on the upcoming journey.
On behalf of the association, Mr. Hong Sun emphasized that he will try his best to attract Korean investors to invest in Nghe An because this is a locality with potential, advantages, and an important position. In addition, the province has attracted famous infrastructure investors, with a large industrial park area, synchronous, modern, and convenient infrastructure investment.
At the workshop, representatives of enterprises investing in infrastructure of 3 Industrial Parks: VSIP, WHA, Hoang Mai gave an overview of the location, scale, capacity, investment situation, production and business. Korean enterprises also raised questions about human resources, investment incentives and were discussed and answered specifically by leaders of provincial departments and branches.
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