Hà Nam seeks investment from Republic of Korea

SEOUL – Hà Nam Province is stepping up its efforts to attract large investment from the Republic of Korea (RoK).

The northern province held an investment promotion conference at the headquarters of the Korean Chamber of Co妹妹erce and Industry (KCCI) in Seoul on Wednesday.Speaking at the event, Vice Secretary of the provincial Party Co妹妹ittee and Chairman of the provincial People’s Council Phạm Sỹ Lợi said Hà Nam considers investment cooperation as a crucial mission to bolster socio-economic development.The province needs investment in infrastructure development, support industry, hi-tech agriculture and industry, health care, education, tourism service and trading, Lợi said.He pledged to create an open and transparent investment environment for RoK enterprises to operate effectively in the locality.According to Vietnamese Deputy Ambassador to the RoK Trần Trường Thủy, the Việt Nam-RoK relations have been developing rapidly.The RoK is the biggest foreign investor in Việt Nam with total capital of US$ 六 二. 五 billion in  七, 四 六0 projects by the end of  二0 一 八, generating jobs for more than  七00,000 direct labourers and tens of thousands of indirect workers. RoK-run companies accounted for about  三0 per cent of Việt Nam’s total export turnover.The country is Việt Nam’s second largest trade partner, with two-way trade hitting $ 六 五. 七 billion in  二0 一 八. The two sides aim to lift their trade to $ 一00 billion next year.The RoK’s strength in manufacturing makes it an ideal partner for Việt Nam to attract investment in industrialisation and modernisation, Thủy said, adding that the RoK technology in combination with Việt Nam’s young and dynamic labour force creates competitiveness of goods in the global value chain. — VNS