The Vinh Phuc delegation led by Mr. Tran Duy Dong, Chairman of the Provincial People's Committee, had many practical investment promotion events in South Korea and Japan.
Chairman of Vinh Phuc Provincial People's Committee Tran Duy Dong and the delegation pay a working visit to Honda Motor Co., Ltd in Japan
South Korea leads investment projects in Vinh Phuc
In South Korea, the delegation met leaders of Chungcheongbuk, the sister province of Vinh Phuc. Mr. Kim Young-Hwan, Governor of Chungcheongbuk Province, and Mr. Lee Yang Seop, Chairman of the Chungcheongbuk Provincial Council, hosted a working reception of the delegation.
As of March 15, 2025, Vinh Phuc province had 477 FDI projects with a total investment capital of US$8.5 billion, of which South Korea took the lead with 234 projects with US$3.1 billion. Four Chungcheongbuk companies invested about US$360 million in Vinh Phuc province.
Chairman Tran Duy Dong proposed that the two provinces regularly maintain informational exchanges, organize professional exchanges and share experience in State field-specific management.
On this occasion, the Vinh Phuc delegation visited and worked with the factory of JAHWA Co., Ltd in South Korea, attended an investment promotion program at SKC Company and awarded an investment expansion license to ISC Vina Company (in Ba Thien 2 Industrial Park) to invest an additional US$30 million.
The delegation also worked with leaders of Gyeonggi Province and introduced the Vinh Phuc investment environment to the Gyeonggi business community. It was received by Mr. Ko Young In, Vice Governor of Gyeonggi Province. Chairman Tran Duy Dong suggested that the two provinces promote cooperation in establishing friendly relations and soon sign a memorandum of understanding on friendly cooperation, smart cities, livable cities and other contents.
Paying a working visit to Samsung Group, he suggested that the South Korean titan consider expanding investment in Vinh Phuc, especially in semiconductor, high-tech and green eco-friendly industries.
Japanese businesses contribute greatly to the provincial budget
In Japan, the delegation met and discussed with leaders of Tochigi Prefecture, headed by Mr. Tomikazu Fugada, Governor of Tochigi, and Mr. Tadashi Ikeda, Chairman of the Tochigi Council.
The Vinh Phuc Provincial People's Committee coordinated with Tochigi Prefecture to organize an investment promotion workshop for many agencies and businesses. Chairman Dong said that, as of March 15, 2025, Japan invested US$1.88 billion in 62 FDI projects in Vinh Phuc.
Japanese companies are the biggest taxpayers in Vinh Phuc. Japanese-invested projects are mainly involved in automobile and motorbike supporting industries. Typical investors include Toyota, Honda, Sumitomo, Hitachi Astemo and Sojitz.
At the meeting, Dong answered some questions on preferential policies for investors, administrative procedure reform, human resource training and investor support raised by Japanese delegates and businesses.
Visiting and working with Honda Motor Co., Ltd, he suggested that Honda Motor continue to invest and expand its production in Vinh Phuc. Both sides are interested in electric vehicle (EV) development in Vietnam. Honda Motor is committed to carefully studying and considering potential local advantages to develop a production expansion plan.
He pledged that Vinh Phuc will continue to have more preferential policies and mechanisms to support Honda and its vendors in the province.
The delegation also worked with Sojitz Corporation whose CEO Masayoshi Fujimoto thanked Vinh Phuc province for its attention and support when the firm carried out its Vinabeef Tam Dao beef breeding and processing complex project in Tam Dao district. During the working program, the delegation also visited the Vietnamese embassies in South Korea and Japan.
By Hien Hung, Vietnam Business Forum
Vietnamese
