The Deputy Secretary of Khanh Hoa Provincial Party Committee and Chairman of the provincial People's Committee Nguyen Tan Tuan has just attended the conference "Meet Korea" jointly organized by the Ministry of Foreign Affairs, the Korean Embassy in Vietnam and the People's Committee of Binh Dinh Province.
The Deputy Secretary of Khanh Hoa Provincial Party Committee and Chairman of the provincial People's Committee Nguyen Tan Tuan has just attended the conference "Meet Korea" jointly organized by the Ministry of Foreign Affairs, the Korean Embassy in Vietnam and the People's Committee of Binh Dinh Province. Through this event, provincial leaders have revealed potentials and strengths to call for Korean businesses to invest in Khanh Hoa.
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In 2021, Korea was the largest investor in Vietnam with 9,265 projects and total registered capital of 78.6 billion USD. Currently, Korea is the third largest trading partner of Vietnam with bilateral trade turnover reaching 78 billion USD. The two countries continue to improve the quality of cooperation in economy, trade and investment; strive to increase bilateral trade turnover to 100 billion USD by 2023 and reach 150 billion USD by 2030. In particular, there are currently 76 pairs of localities of the two countries maintaining friendly cooperative relations, including Khanh Hoa province with Ulsan.
At the conference, Nguyen Tan Tuan briefly introduced the potential, strengths and development orientation of the province in the coming time as well as cooperation relationship between Khanh Hoa province and Korean partners. Khanh Hoa has established a twinning partnership with Ulsan; Nha Trang signed a cooperation agreement with the Chung Gu district government... The two sides had many exchanges in the fields of health, culture and art. Korean enterprises have contributed to boosting the industrial production growth rate of the province. In particular, the products of Hyundai Vietnam Shipbuilding Co., Ltd. are playing an important role in the industry of the province. The number of Korean tourists to Nha Trang - Khanh Hoa ranks 3rd in the structure of international visitors of the province...
Korea is one of the traditional export markets of Khanh Hoa enterprises and one of the markets with large export turnover of Khanh Hoa. In the first quarter of 2022, the export turnover of goods to the Korean market was estimated at 16.9 million USD, up 92.04% over the same period last year. Up to now, the province has attracted 30 FDI projects of Korean investors with a total registered capital of nearly 300 million USD.
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Nguyen Tan Tuan said Khanh Hoa have had a relationship with Korea for more than 20 years. A proof of the success in cooperation is the Hyundai Vietnam Shipyard. This is the largest shipyard in Southeast Asia, exporting 16 ships a year, contributing 50 million USD to the State budget. Khanh Hoa is expected to become a city directly under the Central Government by 2030, therefore, Khanh Hoa is ready to invite businesses from Korea and other countries to invest. Currently, the province has 3 beautiful bays: Van Phong, Cam Ranh and Nha Trang. This is an opportunity for Korean investors to study the manufacturing, processing, and logistics industries. The province is committed to working with Korean investors to create a favorable investment environment on the basis of implementing policies and laws on investment and business as well as creating the best conditions for Korean businesses in Khanh Hoa.
Shon Young Il - Chairman of the Korean Industry and Commerce Association in Central and South Vietnam said that such meetings need to be organized more to create a two-way communication channel to solve problems quickly arising problems for practical and effective cooperation. Currently, 70% of Korean enterprises invest in the manufacturing sector, so they need a large and skilled workforce. Therefore, localities in the South Central Coast and the Highlands need to have an accurate assessment and carefully prepare human resources for projects.
Dinh Lam
Translated by T.T
