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Bac Ninh hopes to attract more Korean investments

The northern province of Bac Ninh is looking to lure more Korean investments, pledging to create the best conditions for both large corporations and small- and medium-sized enterprises to invest in the province, Chairman of the provincial People’s Committee Nguyen Tu Quynh has said.

At an investment promotion conference held in Seoul, the Republic of Korea (RoK), on May 8, Quynh said that Korean firms are the locality’s largest partners, with 824 projects valued at more than 12 billion USD, accounting for 19.4 percent of all Korean investment in Vietnam.

Pointing out renowned investors in the province like Samsung, Hanwa, and Techwin, he attributed their successful operations to the locality’s favourable business climate and transport system, well-developed communication infrastructure, as well as high-quality human resources, among others.

Attending the conference, Vietnamese Ambassador to the RoK Nguyen Vu Tu spoke highly of the Vietnam-RoK sound relations, particularly in the fields of investment, trade, tourism, and people-to-people exchange.

Good political ties and people-to-people exchange have laid the foundation for the effectiveness of economic activities, he affirmed.

The Korean Government is carrying out its “New Southern Policy” to bolster collaboration with the ASEAN bloc, with Vietnam considered a prioritised partner, he said, adding that the Vietnamese Government has outlined various preferential policies to encourage foreign firms, including those from the RoK, to land long-term investment in the country.

Hundreds of Korean investors and journalists attending the conference were informed of Vietnam and Bac Ninh’s policies for foreign investors.