As part of their ongoing business trip to the Republic of Korea (RoK), the high-level delegation of Da Nang, led by Party Committee Secretary Nguyen Van Quang, had a working session on Tuesday with the Authority of the Incheon Free Economic Zone (IFEZ).

The Da Nang delegation, led by Party Committee Secretary Nguyen Van Quang, are seen working with the Authority of the Incheon Free Economic Zone. Photo: HOAN VU

Mr. Yun Won Sok, Head of the IFEZ’s Authority, received and informed the Da Nang delegation that any foreign investors investing in the zone will receive special attention and support, including special policies and privileges, from the Authority.

For his part, the city Party chief Quang thanked Mr. Yun Won Sok for taking the time to welcome the delegation, and introduced his city's development orientation and goals, including the soon-to-be-established Da Nang Free Trade Zone.

He added that many neighbouring countries of Viet Nam have successfully developed the Free Trade Zone model such as Singapore, Malaysia, Indonesia, Japan, RoK and China. And the good news was that the city’s proposal on piloting the establishment of a free trade zone with policy mechanisms aimed at attracting investment, finance, trade, tourism and high quality services had been already approved by the National Assembly of Viet Nam.

He expressed his hope that RoK will share its valuable experience related to the model, performance and management of the IFEZ, along with preferential policies, with the city in the coming time.

Vice Chairman of the Da Nang People's Committee Tran Chi Cuong (right) presenting a souvenir to a representative of the Korean Semiconductor Industry Association (KSIA). Photo: HOAN VU

Also on the same day, Vice Chairman of the Da Nang People's Committee Tran Chi Cuong and delegation members paid a courtesy visit to the Korean Semiconductor Industry Association (KSIA).

During the meeting, Vice Chairman Cuong affirmed that high-tech industry was one of the city’s priority fields besides tourism and marine economy.

Most recently, the National Assembly of Viet Nam has just passed a Resolution on organising urban government and piloting a number of specific mechanisms and policies to develop Da Nang, including preferential and support policies for strategic partners and investors in semiconductor industry.

Mr. Cuong hoped that based on the good results from the recent official visit to RoK by Vietnamese Prime Minister Pham Minh Chinh, Da Nang will have the opportunity to cooperate with KSIA in developing high quality human resources and calling on association member companies to cooperate, invest and do business in the city.

In reply, KSIA Vice President Ahn Ki Hyun expressed his appreciation for Da Nang's semiconductor industry development plan, saying that Samsung was currently is the largest foreign direct investor in Viet Nam when it comes to industrial production.

He unveiled that, in the coming time, the two countries will continue to strengthen and expand cooperation in the field of semiconductor industry.

Mr. Ahn Ki Hyun pledged to introduce semiconductor-related investment opportunities in Da Nang to member companies, thereby contributing to strengthening the training and development of high-quality human resources in the semiconductor field.

Reporting by HOAN VU - Translating by M.DUNG