SEOUL — The central province of Bình Định introduced its potential to South Korean businesses on Monday, aiming to lure investment from the Northeast Asian nation.

The conference to promote Korean investment in Bình Định was held at the headquarters of the Korea Industrial Technology Association in Seoul, drawing representatives of about 100 Korean businesses.

Chairman of the provincial People’s Committee Hồ Quốc Dũng said the advantages of his province match South Korean investors’ investment and business demand. It also shares cultural similarities with Korea. Therefore, Bình Định has chosen Korea, a dynamic and developed economy, to be the next step in its investment attraction plan.

He called on South Korean firms to invest in fields his province has demand for such as electronic component production, seaport and industrial park infrastructure, energy, tourism and fisheries.

He affirmed that all economic sectors are treated equally, and every enterprise is provided with favourable conditions in accessing information about policies, mechanisms, planning and investment and business opportunities in Bình Định.

On this occasion, the official also asked participants to help his province popularise its potential to their friends, colleagues and other Korean investors.

At the conference, Vietnamese Ambassador to South Korea Nguyễn Vũ Tú said the Việt Nam-South Korea partnership is flourishing in all spheres.

South Korea is currently the biggest investor in Việt Nam with total investment capital of more than US$58 billion through last April. Bilateral trade surpassed $60 billion in 2017, making Korea the second largest trade partner of Việt Nam and Việt Nam the fourth largest trade partner of the Northeast Asian nation.

He noted that the fine political relationship and close people-to-people ties are factors helping ensure bilateral economic co-operation.

In 2017, Việt Nam welcomed 2.5 million South Korean tourists while the number of Vietnamese visitors to this country grew by over 70 per cent. Each country has more than 150,000 citizens living in the other nation at present, Tú added. — VNS