The Investment Promotion Agency of Quang Ninh province and the Korea Chamber of Commerce and Industry (KCCI) have signed a memorandum of understanding on Korean investment promotion co-operation within the locality.

At the conference on investment and business promotion in Quang Ninh

The signing of the document came during a conference held on investment and business promotion in the province's Ha Long city on August 29, with 50 Korean CEOs from major groups in attendance.

For Quang Ninh, the Republic of Korea (RoK) represents a lucrative potential market in which to promote investment attraction, especially in the fields of industrial park infrastructure construction, processing and manufacturing projects, high-technology applications, supporting industries, and production of electronic equipment components.

Throughout the meeting, representatives from international organisations based in the RoK such as KCCI and KOTRA, along with CEOs of large groups such as SK Vietnam, Hyundai Motor, LG International, and Lotte, spoke highly of Quang Ninh's huge potential. Indeed, they noted the province’s many advantages, as seen through the transparency in the investment and business environment, enterprise accompanying culture, and the constantly-improving quality of its human resources.

Throughout the nation’s battle against the novel coronavirus pandemic, Quang Ninh has been supporting a team of high-quality experts, businessmen, and engineers from the RoK who serve as contributors to the common goal of pushing back the raging pandemic whilst maintaining socio-economic development.

The Investment Promotion Agency of Quang Ninh province and the Korea Chamber
of Commerce and Industry (KCCI) sign a memorandum of understanding on
Korean investment promotion co-operation in the province.

Lee Bum-sil, deputy general director of an electronic component company operating in the province, said, "Quang Ninh has a convenient traffic location, with a highway connecting ports that serve import and export activities, and an abundance of young human resources which are very good conditions for investment."

Economic experts and financiers at the event shared their experience in renewing investment promotion methods and their priorities aimed at improving the efficiency of attracting Korean investment capital flows into Quang Ninh.

Most notably, provincial leaders pledged to provide the maximum level of support in terms of procedures, land funds, infrastructure, human resources, and plans to open regular flights between Van Don International Airport and Seoul in the near future.

Yun Ok-hyun, Chief Representative of the KCCI, stated, "This is a great opportunity for Korean businesses to expand investment cooperation. We will continue to send many survey delegations to Quang Ninh with a view to learning about its strengths and advantages to expand the investment co-operation network with the province".

To mark the occasion, LS Electric Vietnam Co., Ltd, a member of the LS Electric Group in the RoK, donated 1,500 sets of SARS-CoV-2 diagnosis and test products to Quang Ninh with a value of approximately VND800 million.