Bright spots in the economic diplomacy picture

Khanh Hoa province's foreign affairs activities in 2024 have achieved many important results to contribute to increasingly improving the image, position and prestige of the province. In particular, economic diplomacy activities are considered a prominent bright spot with many diverse and practical activities.

Efforts to attract foreign investment

By the end of November, the whole province had attracted 3 more projects with foreign direct investment (FDI) with a total registered investment of nearly 26.6 million USD, including: Khanh Binh high-tech livestock project (Khanh Vinh district), alcoholic beverage and other beverage production and trading project of 2 Russian investors, and Logistick Unicorp Vietnam Garment Factory Project. In addition, there was 1 project converted from a domestic project to a foreign-invested project with a total registered investment of nearly 34.3 million USD. In the current world situation, attracting foreign investors to the province is a great effort to attract more resources for the recovery and economic development of the locality.

Foreign enterprises learn about investment opportunities in Khanh Hoa.

The province has organized 7 working delegations led by provincial leaders to promote economic cooperation, investment, tourism, and market expansion in 7 countries: Kazakhstan, China, the United States, Japan, Korea, Thailand, and Laos. During those working trips, provincial leaders chaired and coordinated the organization of many activities to inform foreign partners and enterprises about potential, strengths, and investment policies such as Conference on tourism and trade promotion in Kazakhstan; Conference on tourism promotion in Nha Trang - Khanh Hoa in China; Forum on trade, investment and tourism cooperation to promote the East-West Economic Corridor and the Cambodia - Laos - Vietnam Development Triangle; Seminars and meetings with US businesses, investment funds and corporations in New York; New York Investment and Trade Promotion Conference; Khanh Hoa Investment, Trade and Tourism Promotion Conference in San Diego City; Khanh Hoa - Korea Investment Promotion Conference, etc.

In addition, the province has also actively and proactively implemented many multilateral and diversified cooperation activities with partners and foreign markets with great potential and strengths to promote international investment, trade and tourism. Notably, the coordination with the Ministry of Foreign Affairs and the Indonesian Embassy organized the Khanh Hoa - Indonesia Meeting Conference and the Indonesia Meeting Conference; organized receptions and meetings with 12 international delegations led by ambassadors, consuls general, leaders of foreign localities and foreign representative agencies in Vietnam; co-organizing the India - Khanh Hoa Tourism Promotion Conference...

In 2024, Khanh Hoa province also signed cooperation agreements with Hiroshima province (Japan) and Ulsan city (South Korea), focusing on promoting cooperation in the economic and industrial fields; signed a letter of intent with the Boston Global Forum on introducing potential US investors to Khanh Hoa. On the basis of implementing commitments and economic cooperation agreements with partners, many organizations, corporations and foreign investors have come to explore investment opportunities in Khanh Hoa, including: Business delegation of the Japan Business Association in Ho Chi Minh City (JCCH); delegation of the Kansai Economic, Trade and Industry Department (Japan); delegation of the Institute for Strategic Competitiveness of the Wilson Center (USA); delegation of Canadian businesses...

Actively and proactively expanding cooperative relations

According to Duong Nam Khanh - Director of the provincial Department of Foreign Affairs, economic diplomacy has contributed positively to the socio-economic development of the province. For example, the operation of the Van Phong 1 BOT Thermal Power Plant invested by Sumitomo Group (Japan) has contributed to the growth of the electricity production and distribution industry this year; or the activities of HD Hyundai Vietnam Shipbuilding Co., Ltd. have made important contributions to the development of the province, as well as creating stable jobs for thousands of local workers... Therefore, in the coming time, the province will continue to actively and proactively expand economic cooperation with foreign partners and enterprises. First of all, the province will promote the full implementation of the contents of international agreements signed with 8 localities in 6 countries, including: 2 provinces of Attapeu and Champasak, Vientiane Capital (Laos); Stung Treng Province (Cambodia); Ulsan City (Korea); Northern Territory of Australia (Australia); Saint Petersburg City (Russia); Hiroshima Province (Japan).

In addition, the province has actively promoted and introduced the province's potentials, strengths, investment environment, investment cooperation orientation, especially development cooperation in the fields of high-tech industry; processing and manufacturing industry; clean energy; information technology, healthcare for the elderly; logistics services, seaport logistics services... The province has also proactively proposed to the Ministry of Foreign Affairs to connect and cooperate with foreign partners and localities with suitable conditions, especially with the United States, France, Russia, China, Switzerland, Italy, Australia, UAE, Canada...; large economic groups and financial groups of other countries to attract more resources, especially in terms of knowledge, technology, and finance. At the same time, select and support the province to host international events, conferences, seminars, and forums to promote the image of the locality as well as the region, creating momentum to promote socio-economic development; create conditions for the province to participate in working delegations to promote cooperation, investment, tourism, and work with foreign localities organized by the Central Government; introduce prestigious and potential foreign non-governmental organizations for the province to approach, mobilize and exploit aid sources effectively...

It can be seen that from the results achieved in economic diplomacy activities, the door for Khanh Hoa province to go out to the world has been increasingly opened. This is a right direction in the journey to build and develop the province until 2030, with a vision to 2045.

GIANG DINH

Translated by T.T