Quang Ninh seeks to strengthen the ties with Korean investors

28 August 2020 BY deepc

The Korean Enterprises Investment Promotion Conference 2020 took place on 28th August in Ha Long city with the theme of ""Quang Ninh 2020 - Investment Destination". The conference is organized by the People's Committee of Quang Ninh province in coordination with the Ministry of Planning and Investment, the Korean Embassy in Vietnam, Korean trade & investment promotion organizations in Vietnam (KCCI, KOTRA). At the conference, economists and investors share their knowledge and experiences to innovate investment promotion methods, improve the efficiency of attracting investment flows from Korea to Quang Ninh province. In addition, the conference creates opportunities for potential investors and large Korean enterprises who have successfully invested in Vietnam to connect and establish cooperative relationships.

Quang Ninh 1

The conference was attended by Mr. Nguyen Tuong Van - Deputy Minister of Construction, representatives of Ministry of Planning and Investment of Vietnam, leaders of Quang Ninh province. On the Korean side, there were Mr. Jeong Woo Jin, Deputy Ambassador, Consulate General, Embassy of Korea in Vietnam; Chief Representative of Korean international organizations (KCCI Vietnam, KOTRA, KOTRAM), Korean Financial Supervisory Service (FSS).

It also attracted industrial park developers in Quang Ninh like DEEP C Industrial Zones and nearly 50 CEOs of large Korean corporations currently investing in Vietnam such as SK Vietnam, Hyundai Motor, LG International, Lotte, ...

Mr. Nguyen Van Thang, Chairman of Quang Ninh People's Committee, said: “Quang Ninh continues to attract foreign direct investment (FDI) with a focus on projects of high quality, efficiency, using green and advanced technology that save resources and aim to foster sustainable social-economic development. Quang Ninh has always determined Korea as a key partner and source of FDI, especially in areas where the province is calling for investment such as developing model industrial zones dedicated for Korean investors, high-tech manufacturing and processing, electronics, supporting industries,… "

Mr. Yun Ok Hyun, Chief Representative of Korea Chamber of Commerce and Industry (KCCI) commented: "This is a great opportunity for Korean businesses to expand investment and cooperation. We will continue to organize more delegations to Quang Ninh to survey strengths and advantages Quang Ninh offers to develop investment links with the province ".

Quang Ninh 1

Korean investors joining the seminar highly appreciated drastic efforts taken by Quang Ninh in attracting investment through strong movements in administrative reform, shorten licensing procedures, business environment improvement, investor supportive culture development,… Such actions have helped Quang Ninh lead the provincial competitiveness index (PCI) nationwide for 3 consecutive years and become a reliable investment location to Korean investors.

At the conference, Quang Ninh Investment Promotion Agency (IPA) and the Korean Chamber of Commerce and Industry (KCCI) signed a Memorandum of Understanding on investment promotion cooperation. Beside cooperation in organizing investment promotion activities, KCCI will support Quang Ninh's delegation in investment promotion events in Korea and IPA will support Korean businesses in investing and doing business in Quang Ninh.

Quang Ninh 1

Within the framework of the conference, the delegation visited the transport infrastructure and industrial parks newly developed in Quang Ninh. In addition to the apparent advantages of strategic geographic location, Quang Ninh has stepped up its mega infrastructure with a series of key projects such as Hai Phong - Ha Long - Van Don – China border expressways, Van Don International Airport - Vietnam's gateway in Covid-19 time. Quang Ninh also planned to develop port-connected industrial cluster in Quang Yen Coastal Economic Zone with the investment and operation of DEEP C Industrial Zones.

The conference is expected to open the doors wider to boost investment between Korea and Quang Ninh, create the engine to drive the growth of Quang Ninh as a dynamic, innovative, safe investment location for Korean investors in the abnormal 2020 and more years to come.