Central Viet Nam's investment environment introduced to S. Korean businesses

By DA NANG Today / DA NANG Today
November 25, 2023, 18:32 [GMT+7]

Recently in Da Nang, Da Nang Vice People's Committee Chairman Ho Ky Minh, along with Quang Nam Provincial People's Committee Chairman Le Tri Thanh and the leaders of other central provinces and cities, attended a seminar on expanding investment cooperation between South Korea and Viet Nam in the central region.

Standing Vice Chairman of the City People's Committee Ho Ky Minh spoke at the conference. Photo: M.Q
Da Nang People's CommitteeVice Chairman Ho Ky Minh delivers a speech at the seminar. Photo: M.Q

The event was jointly organized by the Consulate General of South Korea in Da Nang, in collaboration with the Korea Trade-Investment Promotion Agency (KOTRA) to introduce the investment environment in Central Viet Nam for foreign investors, and discussed the trend of South Korean enterprises expanding investment into Central Viet Nam in the coming time.

Mr. Kang Boo Sung, the Consul General of South Korea in Da Nang, said that great efforts to attract investment exerted by the governments of central localities have helped more South Korean businesses pay attention to this region than before.

There are currently about 250 South Korean businesses operating in Central Viet Nam. Many businesses that have been operating effectively are typical examples in attracting more South Korean businesses.

South Korean investment channelled into Viet Nam over the past time has acted as a catalyst that not only helps economic growth of both South Korea and Viet Nam but it also deepens the relationship between the two countries in all fields.

Mr. Kang Boo Sung hoped that governments of central Vietnamese localities would maintain their attention and kind support for South Korean businesses so that more and more investors from this foreign country will do business in Central Viet Nam.

As reported by Vice Chairman Minh, Da Nang has always paid great attention to attracting FDI, and identified South Korea as a key market to promote cooperation in the coming time. To date, the city has attracted 268 South Korean-invested projects with a total capital of more than US$362 million.

South Korea currently ranks 5th in terms of registered investment capital among 45 countries and territories investing in Da Nang. South Korean-invested projects have been implemented to ensure progress and quality, in accordance with the city's development orientations.

Da Nang is especially interested in cooperating with partners to develop information technology, hi-tech manufacturing, automation, microchip industry, technology finance, artificial intelligence (AI) applications and other projects in the fields of health, education, tourism real estate and more.

Therefore, the city  would like to invite more South Korean investors and businesses with high financial and technological capacity to learn more about its investment environment and seek cooperation opportunities in the aforementioned fields. Certain areas in which South Korean businesses have strengths also match Da Nang’s investment attraction orientations.

The city’s administration is now looking forward to receiving more cooperation from the South Korean Consulate General in Da Nang in calling for more South Korean businesses to survey, invest and find business partners in Da Nang, hereby contributing to boos bilateral cooperation between Da Nang and South Korea in a more effective and practical manner.

The Da Nang government is committed to creating the most favourable conditions for South Korean investors to invest, do business effectively and live peacefully in the city.

Reporting by MAI QUE - Translating by A.THU