A seminar took place in the north eastern province of Hoa Binh on September 10 to introduce its potential, advantages and incentives to businesses of the Republic of Korea (RoK).

Speaking at the event, Secretary of the provincial Party Committee Bui Van Tinh affirmed that the event provided the two sides with an opportunity to explore each other’s potential and advantages, and for RoK firms, investors and credit institutions to study the province’s business climate.

As the Vietnam-RoK relations thrive, Hoa Binh hopes to welcome more RoK investors, he added.

Introducing the province’s advantages and major achievements over the years, the official said Hoa Binh is paying heed to speeding up the implementation of essential infrastructure projects, administrative reforms and human resources training, thus creating optimal conditions for investors.

At the event, delegates discussed the province’s incentives and untapped potential, along with the development of eco-smart urban areas in the province.

RoK Ambassador to Vietnam Park Noh-wan said that the RoK will strengthen multifaceted cooperation with Vietnamese localities in the coming time, particularly Hoa Binh province.

The RoK Embassy will connect with RoK firms to encourage them to invest in the province and enhance economic, tourism and cultural ties between RoK localities and Hoa Binh, the diplomat noted.

For his part, Deputy Foreign Minister Le Hoai Trung urged Hoa Binh authorities and RoK businesses to further promote cooperation in a closer and more effective manner in the future.

At present, Hoa Binh is home to 40 foreign direct investment projects with total registered capital of more than US$580 million. About 20 of which are projects of RoK firms, making the East Asian country its largest investor.