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Northern Phú Thọ Province seeks Korean investment

Update: December, 05/2017 - 11:30
Phú Thọ Province is calling investment from South Korea. — VNA/VNS Photo Vũ Toàn
Viet Nam News

HÀ NỘI — People’s Committee of Phú Thọ joined hands with the Vietnamese Embassy in South Korea to organise a conference in Seoul on Monday to promote investments into the northern province.

Hoàng Dân Mạc, secretary of the provincial Party Committee cum chairman of the People’s Council, said that Phú Thọ had significant untapped potential for foreign investors.

Phú Thọ Province was open to foreign investment, especially investment from South Korea, Mạc said, adding that the province was creating favourable conditions in terms of policies and procedures for investors.

“Phú Thọ Province will always support investors,” Mạc said.

The province is hastening its administrative reform, increasing dialogues with businesses to remove their difficulties, together with providing incentives to investors.

Nguyễn Vũ Tú, Vietnamese Ambassador to South Korea, said that the Việt Nam–Korea free trade agreement, in effect since 2015, had opened significant opportunities to boost the bilateral investment cooperation.

hoped that more Korean enterprises would study investment opportunities in Việt Nam, specifically in the Phú Thọ Province, for their future projects.

To date, Phú Thọ has attracted 150 foreign-invested projects with a total registered capital of nearly US$1.1 billion, of which, 120 projects worth $793 million came from South Korea.

Statistics from the Việt Nam Foreign Investment Agency showed that South Korea was the largest investor in Việt Nam with a registered capital of $57.5 billion, as of November, making up 18.1 per cent of the country’s total foreign direct investment. — VNS

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