Thua Thien Hue always welcomes South Korean investors and partners
  
Update5/14/2022 10:13:23 AM
It was a statement made by the Deputy Secretary of the provincial Party Committee, Chairman of the People's Committee of Thua Thien Hue province Nguyen Van Phuong at "Meet Korea - central highlands region" co-held by the Foreign Affairs Ministry, South Korean Embassy in Vietnam and the People's Committee of Binh Dinh province on May 13th, 2022. The deputy Minister of Foreign Affairs Ministry Nguyen Minh Vu; the Ambassador Extraordinary and Plenipotentiary of the Republic of South Korea Park Noh Wan; the Deputy Secretary of the provincial Party Committee, the Chairman of the People's Council of the provincial People's Council of Binh Dinh province Ho Quoc Dung and the leader representative of Central ministries/sectors, leader representatives of provinces/cities in south Central and highland.
Chairman of the People's Committee of Thua Thien Hue province Nguyen Van Phuong speaks at the conference
Chairman of the People's Committee of Thua Thien Hue province Nguyen Van Phuong speaks at the conference

Implement synchronously and develop comprehensively

Meet Korea 2022 organized in Binh Dinh province marked an important milestone in Vietnam - South Korea cooperation relation which was established over the past 30 years. It was also an occasion for localities across the region to introduce and advertise local potentials and strengths; listen to expectations, suggestions and requests of South Korean businesses and partners; step by step overcome difficulties and obstacles; improve investment and business environment; adopt measures to facilitate South Korean businesses and investors.

Thua Thien Hue has established cooperation relation with many agencies and organizations in the world. In the past time, the cooperation relation between Thua Thien Hue and South Korean partners has been comprehensively strengthened in various fields in a practical and effective manner. The province has been supported by South Korean government and citizens in socio-economic development.

So far, Thua Thien Hue received and effectively carried out 06 ODA projects sponsored by South Korea. The total amount of USD 55 million was invested in developing healthcare infrastructure, urban planning, tourism and culture development. Particularly, Thua Thien Hue and KOICA signed the exchange minute on developing Hue into a smart culture and tourism city with the nonrefundable ODA grant of USD 13 million and the reciprocal capital of USD 1,8 million. Launched in 2021-2025 period, this project was approved by the Prime Minister and was aimed to develop local tourism and smart tourism information system. Recently, the two sides signed the discussion minute on "South  Korea - Vietnam peace village" project with the nonrefundable capital of USD 3,2 million. At present, relevant documents are being completed.

Regarding cooperation among localities, cooperation/twining agreements were signed between Thua Thien Hue and South Korean localities. For example, Hue city has established cooperation relation with Gyeongju city, Dongnae ward (Busan city) and Namyangju city. A twinning relation was also developed between Phong Dien district and Uljin district (Gyeongsangbuk province). Cooperative activities among localities were carried out and received good response from citizens of the two countries. The image of Thua Thien Hue province was introduced to international friends, contributing to mutual understanding and the bilateral friendly relation.

Thua Thien Hue has 15 FDI projects sponsored by South Korea with the total registered capital of USD 55,58 million in the fields of services, garment and industrial infrastructures. The province signed the memorandum of understanding on smart urban development with Korea Land and Housing Corporation. Accordingly, the two parties invested and carried out research on urban development and Chan May - Lang Co economic zone and other urban structures managed by the People's Committee of Thua Thien Hue province.

Great potentials for investment cooperation

Speaking at the conference, the Chairman of the People's Committee of Thua Thien Hue province emphasized that Thua Thien Hue has great potentials for investment, development, competitive advantage, particularly favorable location, qualified human resources and close regional linkage. The provincial leader affirmed that Thua Thien Hue has always welcomed South Korean investors and partners cooperating and investing in Thua Thien Hue province; accompanying businesses, investors during implementing project in these localities. As the province ranks 1st in PAPI ranking and 8th in country-wide PCI ranking 2011 recently announced, Thua Thien Hue has made effort to support investors, businesses in terms of administrative procedure, transparent business environment; offered incentives to investors.

The provincial leader expected to be informed with cooperation opportunities, business investment in central highlands in general and Thua Thien Hue province in particular to discuss and successfully build effective cooperation and investment models. The leader of Thua Thien Hue province expected that localities in general and Thua Thien Hue province in particular will welcome more South Korean investors to survey, seek for investment opportunities in Thua Thien Hue province; develop the land with rich culture and history of Vietnam; reach better living-standard.

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