The northern province of Ha Nam held an investment promotion conference at the headquarters of the Korean Chamber of Commerce and Industry (KCCI) in Seoul, the Republic of Korea, on October 2.

A hi-tech agriculture model in Ha Nam 

Speaking at the event, Vice Secretary of the provincial Party Committee and Chairman of the provincial People’s Council Pham Sy Loi said Ha Nam always considers investment cooperation as a crucial mission to bolster socio-economic development.

The province particularly needs investment in infrastructure development, support industry, hi-tech agriculture and industry, health care, education, tourism service and trading, Loi said.

He pledged to create an open and transparent investment environment and favourable conditions for RoK enterprises to operate effectively in the locality.

According to Vietnamese Deputy Ambassador to the RoK Tran Truong Thuy, the Vietnam-RoK relations have been developing rapidly in all aspects.

The RoK is the biggest foreign investor in Vietnam with total capital of 62.5 billion USD in 7,460 projects by the end of 2018, generating jobs for over 700,000 direct labourers and tens of thousands of indirect workers. RoK-run companies accounted for about 30 percent of Vietnam’s total export turnover.

The country is Vietnam’s second largest trade partner, with two-way trade hitting 65.7 billion USD in 2018. The two sides aim to lift their trade to 100 billion USD in 2020.

The RoK’s strength in manufacturing makes it an ideal partner of Vietnam which wants to attract investment in industrialization and modernization, Thuy said, adding that the RoK technology in combination with Vietnam’s young and dynamic labour force creates competitiveness of goods in the global value chain.