An Giang strengthens co-operation with RoK’s enterprises

A delegation from Embassy of the Republic of Korea (RoK) to Vietnam and representatives of Korean enterprises led by Ambassador Lee Hyuk, have a working visit from September 25th to 26th in An Giang province.

(VNF) - A delegation from Embassy of the Republic of Korea (RoK) to Vietnam and representatives of Korean enterprises led by Ambassador Lee Hyuk, have a working visit from September 25th to 26th in An Giang province.

In Long Xuyen city, the delegation had a meeting with the leaders of the provincial People's Committee, representatives of departments and typical businesses in the province.

An Giang strengthens co-operation with RoK’s enterprises

Vietnamese side at the meeting. (Source: vietpeace.org.vn)

Attending the meeting were Don Tuan Phong, Vice President in-charge cum General Secretary of the Vietnam Union of Friendship Organisations (VUFO) Don Tuan Phong; Chairman of provincial People's Committee Vuong Binh Thanh; RoK’s Ambassador Lee Hyuk; representatives of provincial departments together with South Korean and local businesses.

Addressing the meeting, Vuong Binh Thanh, Chairman of An Giang People's Committee briefed the guests about the socio-economic development of the province, business and investment development orientation in all fields.

As estimated, the turnover obtained USD 78.14 million, an increase of 7.2 per cent compared to the previous month and 25.9 per cent over the same period in 2016.

Generally counting for the first seven months of 2017, the exported turnover obtained USD 429.51 million, reached 52.38 per cent of the plan and an increase of 1.69 per cent over the same period.

Over the past years, cooperation between An Giang and its Korean partners has made some positive progress, many cooperative activities have been implemented. One of the highlights of the relations is that Long Xuyen city has established a local partnership with Buk-gu district, Ulsan City of South Korea in 2012.

Up to now, An Giang has 38 foreign direct investment (FDI) projects, of which RoK have 11 projects with total registered capital of nearly USD 78 million, accounting for 29.52 per cent of the province’s total FDI. South Korean investors mainly invest in industry, trade and service sectors. These projects provide jobs for more than 7,000 local workers.

At the meeting, Provincial People's Committee also proposed many non-refundable ODA aids and ODA loans, direct investment in many fields such as waste-water treatment, healthcare, high-tech agriculture which worth several million dollars.

In addition to projects calling for investment and economic development, provincial leaders also suggested the Korean Embassy support in promoting cooperation with Korean partners in cultural exchange, studying Korean language, creating opportunities for local students and laborers to study and work in RoK.

An Giang strengthens co-operation with RoK’s enterprises

During the meeting.

Ambassador Lee Hyuk emphasised the 25th anniversary of diplomatic relations between Korea and Vietnam in 2017. The relationship between RoK and Vietnam was not only linked through the two governments, but also built upon a solid economic base between the two sides through many significant contributions.

At the meeting, the Ambassador also shared the potential of An Giang in agriculture and fisheries.

Appreciated the preparation of the province and the results of cooperation in recent years, the Ambassador pointed out that in order to attract the investment from Korean businesses in particular and international enterprises in general, the province needs to strengthen exchanges and create favourable conditions for businesses to improve the province’s competitiveness compared to other localities.

Ambassador Lee Hyuk shared that South Korean enterprises would increase their investment in Vietnam, in order to make better use of this opportunity, An Giang province should prepare innovative program to attract investment and promote the potential of cooperation, at the same time, maintaining contacts with Korean trade representatives and interested Korean companies.

In addition to attracting labor-intensive enterprises (footwear and garments) to address a wide range of employment needs, An Giang needs to prepare human resources and expand cooperation in several industries such as hi-tech and information technology sectors which are strong points of the Korean economy.

An Giang strengthens co-operation with RoK’s enterprises

Delegates pose for a group photo. (Source: vietpeace.org.vn)

Don Tuan Phong, VUFO Vice President in-charge cum General Secretary, suggested that An Giang should complete internal documents and procedures in order to meet the review deadline, adding that he hoped South Korean trade representative agencies and enterprises continue to consider and expand cooperation with the province.

Concerning decentralised cooperation, 40 Vietnamese provinces and cities have established cooperation with South Korean localities, so Phong believes the country will select and introduce a locality for long-term cooperation with the province./.

Translated from Vietpeace

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