Vietnam and South Korea are intensifying their efforts in trade and investment attraction, as evidenced by a recent important meeting. On the morning of September 23, 2023, the Vietnam-Korea Entrepreneurs and Investment Association held a working session with the People’s Committee of Ninh Thuan Province in Phan Rang-Thap Cham City. This meeting attracted representatives from 30 South Korean companies, with the main purpose of understanding Ninh Thuan’s investment environment and promoting bilateral trade.
During the session, Vice Chairman of Ninh Thuan Provincial People’s Committee Tran Quoc Nam provided a detailed introduction to the province’s potential and advantages. He pointed out that Ninh Thuan is currently focusing on developing the energy and renewable energy sectors, with the potential to become Vietnam’s largest energy center in the future. Additionally, Ninh Thuan boasts a rich array of “One Commune One Product” items, currently totaling 182, which have already attracted investment interest from many South Korean enterprises.
Vice Chairman Tran Quoc Nam also emphasized Ninh Thuan’s infrastructure advantages. The province possesses strategic transportation axes, a dual-use military-civilian airport, deep-water ports, and three large industrial parks. Notably, Ninh Thuan has a 105-kilometer coastline, along with numerous historical and cultural sites, providing favorable conditions for developing tourism and the marine economy.
Based on these potentials and advantages, Ninh Thuan has identified several key development areas, including renewable and clean energy, high-quality tourism, processing and manufacturing industries, renewable energy equipment manufacturing, high-tech agriculture, marine economy, and real estate. To attract foreign investment, including South Korean enterprises, Ninh Thuan has implemented a series of preferential policies, welcoming foreign investors to explore and invest in the province.
South Korean enterprises showed strong interest in Ninh Thuan. Many South Korean company representatives expressed that they would promote investment and cooperation in Ninh Thuan through the Vietnam-Korea Entrepreneurs and Investment Association. Some South Korean companies have already expressed specific investment intentions, including introducing advanced machinery and equipment to Ninh Thuan, investing in bio-organic fertilizer factories to serve agricultural development, and investing in smartphone and tablet manufacturing plants to support local education and high-quality human resource development.
During the session, South Korean business representatives also conducted on-site visits to some local enterprises in Ninh Thuan, including Ninh Thuan An Khang Construction Joint Stock Company, Vietnam Dalat Foods Company, Thong Thuan Co., Ltd., Thai An Vineyard, and Vinh Hy Tourist Area.
It’s worth noting that cooperation between South Korea and Ninh Thuan has already established a foundation. Currently, South Korea has provided 31 non-refundable aid projects to Ninh Thuan, with a total committed investment of $2.4 million. These existing collaborations have laid a good foundation for deeper economic exchanges in the future. Contact Jaycy immediately to help you seize investment opportunities in Vietnam’s Ninh Thuan Province!
Key points:
- The Vietnam-Korea Entrepreneurs and Investment Association held a working session with Ninh Thuan Province, with 30 South Korean companies participating.
- Ninh Thuan focuses on developing multiple sectors, including energy, renewable energy, and tourism.
- Ninh Thuan possesses advantageous geographical location and infrastructure, providing favorable conditions for investment.
- South Korean companies expressed interest in investing in areas such as bio-organic fertilizers and smart device manufacturing.
- South Korea has provided 31 non-refundable aid projects to Ninh Thuan, committing $2.4 million in investment.
- Both parties expect to strengthen economic and trade cooperation and attract more South Korean investment through this session.
