SEOUL — The northern province of Hưng Yên promises to ensure a favourable investment environment for foreign investors, provincial People’s Committee chairman Nguyễn Văn Phóng has said.

In recent years, local authorities have focused on perfecting infrastructure and improving the quality of human resource to better facilitate investors, Phóng told an investment promotion conference in Seoul, South Korea, on Thursday.

He added that authorities have also paid attention to solving investors’difficulties in implementing their projects in the locality in a timely manner.

The province is striving to attract more foreign investors, including those from South Korea, he noted.

Kang Ho-min, Korea Chamber of Commerce and Industry (KCCI) executive in charge of international affairs, said many Korean firms are operating effectively in Hưng Yên and his chamber is willing to help more Korean companies invest in the province.

The official described the forum as a good opportunity for other Korean enterprises to learn about the province’s investment climate and its investment opportunities.

Participants at the event also heard about Hưng Yên’s priority projects for attracting foreign investment and successful stories of Korean enterprises operating in the province.

The event also saw two memoranda of understanding (MoUs) inked between the province and Korean companies. The MoUs are related to the development of a 3,000ha industrial and urban area complex and the operation of a waste treatment factory.

South Korea is currently Việt Nam’s leading source of foreign direct investment with more than US$50 billion. Up to 5,600 Korean firms operating in the country have created some 700,000 jobs and contributed 30 per cent of the country’s annual export turnover. — VNS