Thua Thien-Hue Calling on South Korean Investors

A conference to introduce advantages, potentials and investment opportunity in central Thua Thien-Hue Province has been jointly held recently in Hanoi by the Vietnam Chamber of Commerce and Industry (VCCI), Hue Provincial People’s Committee and the Korea Trade-Investment Promotion Agency (KOTRA). The event also provided information about the local investment policy and favours for Korean investors. 

 

Thua Thien-Hue is home to unique culture.The province boats two world heritage sites. It is alsothe centre of Vietnam’s world heritage road (Ha Long – Phong Nha - Hue- Hoi An – My Son – Ho Chi Minh Highway). South Korea is a powerful country with rich culture in the world. With similarities between the foreign country and the locality, Vu Tien Loc, Chairman of VCCI has chosen Hue as the destination to lure South Korean investors. 

 

Talking about the country’s efforts to improve investment over the years, Deputy Minister of Planning and Investment, Nguyen Chi Dung, said Vietnam has ceaselessly strived to perfect its legal system, remove barriers, diversify investment modes and better deal with trade disputes in line with international norms. This is one of the main reasons why FDI into the country has increased strongly in recent times. He expressed his hope that South Korea will become the biggest foreign investor in Vietnam as it used to be and Hue will be an ideal place for Korean investors, as Hue would become a social-economic hub in central Vietnam once its potentials are tapped by modern technology and advanced management skills from South Korea. Mr Dung also believed that with favourable location, potentials and due attention from the local authorities, South Korean investors will gain fruitful results when pouring investment into the province. The Ministry of Planning and Investment has pledged to join hands with the local authorities, and South Korean Embassy in Vietnam to create more favourable conditions for Korean investors who are keen on Vietnam generally and Thua Thien-Hue particularly. 

 

South Korean Extraordinary and Plenipotentiary Ambassador to Vietnam Mr  Im Hong Jae, said "I always encourage South Korean investors to pay more attention to Vietnam". He also urged the local authorities as well as relevant agencies to create more favourable conditions and give more favours to South Korean investors.

 

In the first six months of 2008, Thua Thien-Hue reported VND2.75 trillion in total registered investment, including VND220 billion FDI, fulfilling 29.64 per cent of the year target. Many important works have been finished including Bu Lu Bridge and Road to Cu Du Tourist Site, and a road to Lap An Lagoon. In addition, the province has speeded up construction on power projects: Thuong Nhat, A Luoi, Binh Dien, Huong Dien.... Six tourism projects in Chan May-Lang Co Economic Zone have been under construction. The province has also paid attention to mobilise ODA sources.