Opening up cooperation opportunities between Yen Bai and Korean enterprises

Attending the conference were leaders representing the Foreign Investment Agency - Ministry of Planning and Investment ; leaders of the Hai Phong Economic Zone Management Board; the Investment and Trade Promotion Agency in Hanoi along with domestic and foreign enterprises and investors.

Mr. Tran Huy Tuan - Chairman of Yen Bai Provincial People's Committee spoke at the conference

Attending the conference on the side of Yen Bai province were Mr. Tran Huy Tuan - Chairman of the Provincial People's Committee and other provincial leaders, leaders of departments, branches, localities and a number of enterprises.

Speaking at the opening of the conference, Mr. Tran Huy Tuan - Chairman of Yen Bai Provincial People's Committee emphasized: Currently, Vietnam - Korea are the leading important partners of the two countries in many fields. In which, economic , trade and investment cooperation is both a pillar and a driving force to promote the cooperative relationship between the two countries.

Chairman of the Provincial People's Committee Tran Huy Tuan affirmed: Yen Bai has a favorable geographical location, is the midpoint of the economic corridor of Kunming - Lao Cai - Hanoi - Hai Phong - Quang Ninh, has many advantages in connecting trade with economic centers, border gates, seaports, important international airports such as: Hanoi, Hai Phong port, Noi Bai airport, international border gate with China.

Mr. Vu Van Chung - Deputy Director of the Foreign Investment Agency, Ministry of Planning and Investment pledged to accompany Yen Bai province and Korean investors to promote investment and business activities in the province.

In particular, Yen Bai has abundant natural resources, synchronous infrastructure, abundant and high-quality human resources, dynamic government, business development support services, quick and convenient administrative procedures, easy access to land, transparent information on planning, open and attractive investment attraction policies, low investment costs...

“The planning of Yen Bai province for the period of 2021-2030, with a vision to 2050, which was recently approved by the Prime Minister in September 2023, plays a particularly important role and significance, demonstrating the long-term vision and strategy in the socio-economic development orientation of the province. This is an important legal basis for spatial arrangement, investment attraction... This is also an important condition, a suitable time for investors to come to Yen Bai province,” emphasized the Chairman of the Yen Bai Provincial People's Committee.

Speaking at the conference, Mr. Vu Van Chung - Deputy Director of the Foreign Investment Department, Ministry of Planning and Investment said: Yen Bai is an attractive and potential destination for Korean investors. Yen Bai is interested in investing in a synchronous infrastructure system with convenient traffic connections, industrial parks and industrial clusters with much room for development at competitive prices to attract foreign investors; abundant human resources, quick access and meeting the needs; beautiful, majestic and quite primitive natural landscape to welcome investors to develop.

In particular, with the strong support and attention of leaders and authorities at all levels and the inter-regional cooperation between Yen Bai and Hai Phong, it will promote and support investors and bring the highest efficiency. Especially support for Korean investors who are investing and doing business in Vietnam.

Mr. Vu Van Chung - Deputy Director of the Foreign Investment Department, Ministry of Planning and Investment also pledged to accompany Yen Bai province, accompany Korean investors to promote investment and business activities in the province. At the same time, he is ready to listen and accept the province's recommendations in completing procedures for businesses.

Mr. Cha Sung Wook - Deputy General Director of the Korea Trade and Investment Promotion Agency in Hanoi spoke at the conference.

Mr. Le Trung Kien - Member of the Standing Committee of the City Party Committee, Head of the Hai Phong Economic Zone Management Board expressed: Yen Bai province has a lot of potential and advantages, especially the province has many open and attractive investment attraction policies.

Mr. Le Trung Kien hopes that right after this conference, Korean enterprises will learn more about policies and priority investment projects in the province. From there, there will be cooperation for Korean enterprises in general and Korean enterprises in Hai Phong in particular and bring the highest efficiency.

At the conference, Mr. Cha Sung Wook - Deputy General Director of the Korea Trade-Investment Promotion Agency in Hanoi said: In recent years, economic cooperation between Vietnam and Korea has continued to grow strongly despite the impact of the Covid-19 pandemic. In 2022, bilateral import-export turnover reached nearly 87 billion USD. Korea is a major investor with nearly 82 billion USD of registered capital and nearly 9,600 valid direct investment projects in Vietnam. In the coming time, Korean enterprises will be interested in investing in promising fields.

The parties agreed to sign an agreement to enhance exchange activities and share experiences in investment and trade promotion; exchange of goods and cooperation in production and business.

The Deputy General Director of the Korea Trade and Investment Promotion Agency in Hanoi hopes that through this conference, Korean investors will invest in Vietnam in general and Yen Bai province in particular in areas such as: Processing industry, production of new materials, clean energy, production of electronic components, traditional handicrafts, service sector, healthcare... The Korea Trade and Investment Promotion Agency in Hanoi will create favorable conditions and actively support Korean enterprises to invest in Vietnam.

Mr. Tran Huy Tuan - Chairman of Yen Bai Provincial People's Committee (left) and delegates visited the exhibition space to introduce and promote key products and potentials and strengths.
of the province.

Ms. Vu Thi Hien Hanh - Vice Chairman of the Provincial People's Committee introduced the strengths of Yen Bai province.

Within the framework of the conference, after listening to the introduction of the province's potential strengths and preferential policies, delegates shared solutions to improve the effectiveness of investment promotion and attraction, introduced the advantages of cooperation and connection between enterprises between Yen Bai province and Korean enterprises and enterprises in Hai Phong Economic Zone as well as foreign and domestic investment enterprises. There were many practical opinions shared, proposing dedicated solutions to help Yen Bai province promote investment promotion and improve the quality of human resources in the coming time.

At the conference, the parties agreed to sign an agreement to enhance exchanges and share experiences in investment and trade promotion; exchange of goods and cooperation in production and business.

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