The southern province of Binh Duong will actively work to promptly remove bottlenecks for businesses from the Republic of Korea (RoK), Chairman of the provincial People’s Committee Tran Thanh Liem affirmed at a dialogue with Korean firms on July 30.

At the dialogue (Photo: VNA)

Local authorities cleared up a number of concerns raised by Korean enterprises regarding transport infrastructure, electricity supply, and provision of high quality human resources.

Among over 3,650 foreign businesses investing in Binh Duong, Korean firms are ranked fifth with 734 projects worth 3.13 billion USD, mainly in the fields of garment-textiles, footwear, manufacturing auxiliary products for the automobile industry, health care, pharmacy, and food processing.

In the first six months of this year, Korean businesses registered investment of over 89.1 million USD.

Director of the provincial Department of Planning and Investment Nguyen Thanh Truc said in the January-June period, Binh Duong attracted over 1.45 billion USD in foreign direct investment (FDI) from 32 countries and territories, a year-on-year rise of 70 percent, surpassing the yearly target of 3.5 percent.

To date, the province has lured more than 3,650 FDI projects worth over 33.8 billion USD from 64 countries and territories, ranking third nationwide in foreign investment attraction, he added.

To reap these outcomes, Binh Duong has focused investment on transport development and created favourable connection between urban centres, residential areas and industrial parks with the southern metropolis of Ho Chi Minh City, the Mekong Delta, the south-eastern region, and the south Central Highlands, he said.