"Vinh Phuc - a safe and potential investment destination"

25/11/2020

In the context that Covid-19 complicatedly happens in the world, this message was emphasized by Secretary Hoang Thi Thuy Lan at the investment promotion seminar with Korean investors held on the afternoon of November 18, 2020. This affirmed more clearly the attractiveness, potential, stability and safety of the investment environment in Vinh Phuc province. The workshop was organized by the provincial People's Committee in coordination with the Korean Chamber of Commerce and Industry in Vietnam.

Attending the seminar were Mr. Park Noh Wan, Ambassador Extraordinary and Plenipotentiary of Korea to Vietnam; Mr. Le Hoai Trung, Deputy Minister of Foreign Affairs; Mr. Tran Duy Dong, Deputy Minister of Planning and Investment, leaders of economic, commercial, educational, tourism agencies and organizations, big Korean investors, over 300 FDI and DDI enterprises investing in the province.

On behalf of Vinh Phuc, there were Ms. Hoang Thi Thuy Lan, Member of the Party Central Committee, Secretary of the Provincial Party Committee, Chairman of the Provincial People's Council, Head of the provincial National Assembly delegation; Mr. Pham Hoang Anh, Standing Deputy Secretary of the Provincial Party Committee; Mr. Le Duy Thanh, Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee; leaders of departments, branches, districts and cities.


Secretary Hoang Thi Thuy Lan delivered the opening speech at the seminar

Welcoming Korean investors, Secretary Hoang Thi Thuy Lan affirmed: With the advantages of geographical location and a breakthrough direction, after more than 23 years of re-establishment, Vinh Phuc has made a great progress and achieved many important results in many fields. In the period of 2017 - 2020, the average economic growth rate reaches 13.5% / year. By 2020, the proportion of industry - service sector will account for over 91%; the size of the economy is estimated at 122,157 billion dong; GRDP / person is estimated at 104.2 million dong. State budget revenue is in the top of the country and domestic revenue for many consecutive years ranks second in the North, only after Hanoi. Up to now, the province has planned 18 industrial zones with an area of over 5,200 ha; 32 industrial clusters with an area of over 600 ha, the infrastructure is invested synchronously, the quality of infrastructure is assessed well, in the top 4 of the country.

The quality of labor, especially the level of meeting the labor demand for enterprises is highly appreciated compared to many localities in the region. In particular, the province is always ranked in the group with high ranking in the provincial competitiveness index and is one of the bright spots in the North in terms of investment attraction. By the end of 2020, the province is estimated to attract 803 DDI projects, with a total registered capital of over 98 trillion dong; 414 FDI projects, total registered capital is over USD 6,165 billion. In which, South Korea is the country with the largest number of projects and total investment capital in the province with 213 projects, total investment capital of USD 2.37 billion.

Ms. Hoang Thi Thuy Lan said that in order to become an industrialized province in 2025, one of the industrial, service and tourist centers of the region, the whole country and have good business environment, good living environment, Vinh Phuc encourages to attract investment in projects on automobile, motorcycle, mechanical engineering, high-tech industries, electronics, telecommunications, food processing, hi-tech agriculture, clean fruit and vegetable production, high-tech livestock and poultry husbandry, processing agricultural products in the value chain; high-quality medical, educational and vocational training, tourism, hotels, restaurants, high-end resorts; infrastructure business investment of industrial parks and clusters, especially investment in specialized infrastructure, creating connection and linking industry clusters; projects on wastewater treatment, industrial and domestic waste.

Secretary Hoang Thi Thuy Lan believed that with efforts on finding solutions, a common voice to meet the needs of the business community, potential investors from this conference, Vinh Phuc would expand cooperation with localities and welcome many Korean investors to the province, especially projects carrying high technology, high quality, environmental friendliness, and great socio - economic efficiency. “Vinh Phuc commits to make ceaseless efforts, create the most favorable investing environment for investors and enterprises to implement the project, in particular, the successful implementation of the "dual goal" of fighting the epidemic and maintaining, restoring production, developing the economy and ensuring people's living standards", the Secretary emphasized.

Congratulating Vinh Phuc's successes, the Deputy Minister of Planning and Investment said that Vinh Phuc would soon realize the goals of the Resolution of the Seventh Provincial Party Congress. In the coming time, the province should continue to study and well implement solutions to improve the investment environment and improve the provincial competitiveness index; actively coordinate with ministries and branches to remove difficulties in land fund, increase investment in infrastructure construction, have mechanisms and policies to support investors; organize investment promotion missions, investment promotion and investment attraction seminars in South Korea and potential markets.


Korean Ambassador, leaders of the Planning and Investment Ministry, the Foreign Affairs Ministry
and Vinh Phuc province witnessed the MOU signing ceremony between the Department of Planning
and Investment and the Korean Chamber of Commerce and Industry in Vietnam

At the seminar, leaders of the province, the Ministry of Planning and Investment, the Department of Planning and Investment, the provincial Management Board of Industrial Parks exchanged and answered many issues about Korean investors, concerned with Central and provincial mechanisms and policies on business support in general, supporting enterprises operating in the supporting industry, export processing industry; site clearance compensation, creating a clean land fund; socio-economic development, social security and people's quality of life; efforts of Vinh Phuc in particular, Vietnam in general in the prevention and control of Covid-19 epidemic; the orientations of the province and of Vietnam in completing institutions and policies, improve the quality and efficiency of foreign investment cooperation of Vinh Phuc.

At the conference, the leader of the Department of Planning and Investment signed a MOU on investment cooperation with the Korean Chamber of Commerce and Industry in Vietnam and Vietcombank Vinh Phuc.

Speaking at the closing of the seminar, Chairman Le Duy Thanh commited that Vinh Phuc would apply investment incentive policies for businesses and investors in accordance with the law; well implement the investment support mechanisms and policies of the province and would continue to develop policy sets to diversify investment fields, help businesses increase their access to investment support. Along with that, support businesses to access land in the fastest time in accordance with the law. Continue to promote the work of compensation, site clearance, creating a clean land fund ready to receive projects into investment; support to solve labor problems for businesses. Focus on investing in infrastructure at the fences of industrial parks and tourist zones and supporting essential input conditions for business production. At the same time, quickly settle administrative procedures for investment in accordance with the law; publicly and transparently process investment procedures, construction and land planning, planning of sectors and fields on the electronic information system.

Thanh Nga

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