Ba Ria-Vung Tau calls for RoK investment

Friday, Oct 19, 2018 11:47

Attendees at the meeting between Ba Ria-Vung Tau’s authorities and the Republic of Korea Trade-Investment Promotion Agency in Seoul on October 18. — Photo

The southern province of Ba Ria-Vung Tau shared information about its investment opportunities and attraction policies at the Republic of Korea (RoK) Trade-Investment Promotion Agency in Seoul on October 18.

At the event, with the participation of about 200 delegates, Secretary of the provincial Party Committee and Chairman of the province’s People’s Council Nguyen Hong Linh briefed the RoK representatives on the potential, advantages and development orientations of the locality.

Linh said that Ba Ria-Vung Tau lies in the Southern Key Economic Region of Viet Nam, about 60km from HCM City, serving as a gateway to the East Sea for southeastern localities and the whole country. It helps connect ASEAN countries with the East Sea, he said.

The provincial leader highlighted that the locality will focus on developing major sectors such as heavy industry, seaports, logistics, tourism and high technology agriculture. He called on RoK firms to invest in big industrial projects using modern technologies which are friendly to the environment, helping promote the locality’s socio-economic growth.

Linh told the participants that the province is in need of investment to the Cai Mep Ha logistics centre as well as other projects providing logistics services for its international ports.

At the same time, Ba Ria-Vung Tau also called for major and prestigious investors to pour money into high quality tourism projects as well as high-technology agricultural projects.

Deputy Ambassador Tran Truong Thuy stressed that the event is held in a suitable time as RoK businesses are increasingly interested in Viet Nam. He said that this is a good chance for RoK investors to get a better understanding of business opportunities and preferential policies in the province.

The RoK is now the biggest investor in Viet Nam with over US$61 billion as of September 2018. With two-way trade reaching over $60 billion in 2017, it is also the second-largest trade partner of Viet Nam, while Viet Nam is the RoK’s fourth biggest. A sound bilateral political relationship and close people-to-people contacts are also factors ensuring the growth of the economic partnership between the two countries. — VNS

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