Quy Nhơn City in the south central province of Bình Định. — VNA Photo

A delegation from the central province of Bình Định led by Secretary of the provincial Party Committee Hồ Quốc Dũng on November 3 organised an investment promotion conference in the Republic of Korea (RoK) as part of their visit to the country.

At the event, the provincial leader informed Korean enterprises about the province’s advantages and incentives that it offers to foreign investors, including those from the RoK.

In recent years, Bình Định has always been in the group of localities with the best performance in the Provincial Competitiveness Index (PCI). In 2022, it topped 63 provinces and cities in Việt Nam in the equal competition sub-index of the PCI, showing its outstanding efforts in improving the quality of economic management and creating a favourable business environment for private enterprises.

The province is also one of the localities with the most outstanding administrative reforms.

According to the official, once investing in the province, depending on the industry, investors can be exempted from land rent for a number of years, and enjoy tax reduction and exemption.

From a backward agricultural province, Bình Định has risen to the 6th among 14 north central and central coast provinces in terms of Gross Regional Domestic Product (GRDP). It strives to become a science and technology, innovation, an artificial intelligence (AI) hub in Việt Nam.

At the conference, the People's Committee of Bình Định province signed a memorandum of understanding on cooperation with the Việt Nam - Korea Businessmen and Investment Association (VKBIA).

Previously, the Bình Định delegation had working sessions with the Office of Yongsan district in Seoul city, and the authorities of Incheon city. They also visited the Vietnamese Embassy in the RoK. — VNA/VNS