Thanh Hoa and South Korea to Strengthen Investment Cooperation

On March 24, a delegation of the Embassy of the Republic of Korea to Vietnam led by Ambassador Park Noh-wan attended “Meet Korea 2022,” an event in Thanh Hoa province. (Photo: Baoquocte)

On March 24, a delegation of the Embassy of the Republic of Korea to Vietnam led by Ambassador Park Noh-wan attended “Meet Korea 2022,” an event in Thanh Hoa province.

Secretary of the Thanh Hoa Party Committee Do Trong Hung introduced the potential and strengths of the province and emphasized that with its unique geographical position, advantages in infrastructure, and human resources, Thanh Hoa provided great potential for investors.

The province currently has 37 projects invested by Korean, accounting for 26.5% of its total FDI projects. The total registered capital reached about USD 1.6 billion, accounting for 11% of the province’s total FDI investment. Among such projects, Nghi Son II Thermal Power Project, a joint venture between South Korea and Japan, stands out in scale.

Standing Deputy Minister of Foreign Affairs Nguyen Minh Vu (middle). (Photo: Baoquocte)

Several projects have been implemented effectively, such as Winners Vina Nga Son Garment Factory, Namyang International Co. Ltd. Such projects strengthen the provincial industry and handicraft, create jobs, and increase local budget revenue.

Thanh Hoa has proactively promoted exports to the South Korean market, a potential market for provincial products. In 2021, the export turnover of goods reached USD 408.5 million (7.43%), with garments, leather shoes, frozen seafood, and fake eyelashes as significant goods.

The Secretary of the Thanh Hoa Party Committee asked Ambassador Park Noh-wan to support local cooperation activities between South Korean localities and Thanh Hoa, especially those which have established cooperative relations with the province, such as Seongnam, Gapyeong-gun, and Gyeonggi-do.

Ambassador of the Republic of Korea to Vietnam Park Noh-wan. (Photo: Baoquocte)

Thanh Hoa representatives expressed their hope that the Korean ambassador and business associations would create favorable conditions for the province to receive ODA projects, participate in scholarship programs, short-term and long-term training courses for students, and authority staff in health education, planning, international relations.

Standing Deputy Minister of Foreign Affairs Nguyen Minh, Vu emphasized that the “Meet Korea 2022” meeting is the first event in the region to celebrate the 30th anniversary of Vietnam-South Korea relations.

The event also received the attention of Party and State leaders. Thanh Hoa was chosen as the event venue for its success in controlling the pandemic and developing the socio-economy in the past two years.

Secretary of Thanh Hoa Party Committee Do Trong Hung presented the painting Ho Dynasty Citadel to Ambassador to Vietnam Park Noh-wan. (Photo: Baoquocte)

Vu hoped Thanh Hoa and its South Korean partners would connect to create effective and long-term development projects, contributing to Thanh Hoa’s robust growth in the future.

Thanking the province for its warm welcome, the Ambassador of the Republic of Korea to Vietnam Park Noh-wan said he was impressed by Thanh Hoa’s socio-economic development and appreciated the province’s potential, especially in petrochemicals, skilled labor and transport.

The Ambassador expressed his belief that with the leadership and direction of the provincial leaders, more and more Korean businesses would seek opportunities to invest in Thanh Hoa, especially after the event.

The Ambassador said he would introduce the potential and strengths of Thanh Hoa to South Korean investors and businesses. At the same time, he hoped that representatives of South Korean and business associations would join the cooperation.

British Embassy, NGO Help Fight Human Trafficking in Vietnam With the fund from British Embassy in Vietnam, World Vision Vietnam is conducting a project to reduce the risks of human trafficking in Thanh Hoa, ...

Pu Luong – The Perfect Destination For Nature Lovers Amidst the sweltering summer heat of northern Vietnam, there is nothing better than leaving bustling urban life for a while and coming to Pu Luong, ...

Thanh Hoa provincial women’s soccer team debut in Macau The Association of Fellow Countrymen of Thanh Hoa province in Macau held a ceremony to celebrate the association’s 5th anniversary and present its women’s soccer ...