Van Phong economic zone in Khánh Hòa. — VNA/VNS Photo

SEOUL — The Khánh Hòa – Republic of Korea (RoK) investment promotion conference took place in Seoul on September 27, drawing over 150 Korean firms.

The event, co-organised by the Khánh Hòa People's Committee, the Vietnamese Embassy in the RoK, the Korea Federation of Small and Medium Enterprises (FOMEK), and the Korea Trade-Investment Promotion Agency (KOTRA), showcased Khánh Hòa's potential and strength.

Leading the provincial delegation, Chairman of the Khánh Hòa People's Committee Nguyễn Tấn Tuân presented the province's compelling investment landscape, saying that the province boasts favourable natural conditions, including its expansive coastline and three major bays - Vân Phong, Nha Trang, and Cam Ranh - which offer ample space for development.

With a well-developed transportation infrastructure encompassing road, sea, and air networks, Khánh Hòa has become one of the most dynamic economic hubs in Việt Nam's south central coast region, renowned for the tourist city of Nha Trang.

In recent years, Khánh Hòa has proactively shifted its economic model, focusing on sustainable tourism and green industry, Tuân said. "Our goal is to become a leading marine economic hub and a top smart urban area in Asia."

Hailing the RoK as one of the most important economic partners, particularly in investment and tourism, Tuân said that with a total direct investment of US$359.97 million, accounting for 9.18 per cent of the province's total foreign investment, Korean firms have made substantial contributions to Khánh Hòa's socio-economic growth.

According to him, the locality is developing key industries that align with strengths of Korean enterprises, including information technology, software production, artificial intelligence, and semiconductor.

In the food processing industry, Khánh Hòa holds great potential thanks to its abundant and quality raw materials. It is also calling for investments in maritime, logistics and renewable energy.

Notably, high-tech manufacturing and supporting industries for shipbuilding have been identified as key sectors crucial to local economic development strategy. The province plans to work closely with universities and colleges to train a skilled workforce that meets market demand.

Participants discussed investment incentives focusing on industrial parks and clusters in the province. — VNS