Seminar on investment connectivity between Nghe An and Kocham
(Baonghean.vn) - On the evening of August 25, the People's Committee of Nghe An Province and the Korean Association of Commerce and Industry in Vietnam (Kocham) collaborated to organize a seminar on investment connectivity between Nghe An and Kocham.
The seminar was attended by Nghe An delegates, including: Mr. Nguyen Duc Trung - Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee; Mr. Bui Dinh Long - Deputy Chairman of the Provincial People's Committee; leaders of departments, committees, sectors, and three industrial infrastructure investment enterprises: VSIP, WHA and Hoang Thinh Dat.
Representing the Kocham in Vietnam were Mr. Hong Sun - Chairman of the Korean Association of Commerce and Industry in Vietnam; Executive Board members of the Chamber, leaders of Korean enterprises in Vietnam, and Korean enterprises in Nghe An.
In his welcome speech, the Chairman of the Provincial People's Committee emphasized that Nghe An is like a miniature Vietnam, with diverse natural landscapes including mountains, plains, coastal areas and borders. Nghe An is a large province with a dense population and complete transportation infrastructure, meeting the requirements of investors. Nghe An ranks 12th out of 63 provinces and cities in terms of economic scale and has shown remarkable growth in recent years. Notably, Nghe An's attraction of FDI has yielded positive results, ranking 10th out of 63 provinces and cities in 2022, and 8th out of 63 provinces and cities in the first 8 months of 2023, with a total capital of USD 890 million. This demonstrates the efforts of the local government, departments, localities and businesses 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. Currently, Nghe An province has 24 projects by Korean enterprises with a total investment capital of nearly USD 170 million, creating jobs for about 15,000 workers, promoting exports and contributing to the provincial budget. South Korea is one of Vietnam's top partners, especially in the investment field with USD 83 billion. However, the cooperation results of Korean investors in Nghe An are limited compared to the potential that could be achieved, ranking only 34th out of 63 provinces and cities nationwide.
To attract investors, Nghe An has prepared the most favorable conditions, referred to as the "5 readinesses": Planning and infrastructure, land for industrial parks, human resources, administrative procedure reform, and partnership with investors. Nghe An prioritizes businesses in processing, manufacturing, electronics, new energy, new materials, high-tech and environmentally friendly technologies. Nghe An adheres to the principle of not sacrificing environmental concerns for economic development.
Speaking at the seminar, Mr. Hong Sun - Chairman of the Kocham in Vietnam, concurred with the assessment that the cooperation and investment results of Korean businesses in Nghe An have not fully aligned with the potential and the relationship between the two sides. Based on this, he hopes for a more balanced relationship between Nghe An and Korean enterprises, expecting that after the seminar, many Korean companies will show interest in Nghe An to implement investment projects. Kocham will foster close connectivity and collaboration with Nghe An Province, hoping for the highest support from Nghe An in the journey ahead.
During the seminar, representatives from the three industrial park infrastructure investment companies - VSIP, WHA, and Hoang Mai industrial parks - provided an overview of their locations, scales, capabilities, investment and production situations. Korean enterprises also raised questions regarding labor resources, investment incentives, and engaged in specific exchanges and received responses from leaders of provincial departments and sectors.