On February 26-27, 2024, to effectively support the attraction of investment into the locality and identify opportunities and challenges for industrial parks and businesses in Hung Yen in attracting foreign investment capital, Investment Promotion Center for Industry and Trade (Investprocen) (Ministry of Industry and Trade) in collaboration with the Korea Desk, Korea Trade Promotion Corporation (Kotra), Hung Yen Industry and Trade Department, and the Management Board of industrial parks of Hung Yen Province organized a foreign investment attraction training conference as well as conducted a survey of Yen My Viglacera industrial park, Kim Dong - Dang Le - Chinh Nghia Industrial Cluster and VTK Clean industrial park in Hung Yen Province.
On the morning of February 26, a delegation of officials from the Vietnam Trade Promotion Agency (Vietrade), Korea Trade Promotion Corporation (KOTRA) visited and worked at some industrial parks and industrial clusters in Hung Yen, such as Yen My Viglacera industrial park, visited Yusung Electronics Vina Co., Ltd. (a Korean enterprise currently operating in Yen My industrial park) and 03 industrial clusters: Kim Dong, Dang Le and Chinh Nghia. According to the Management Board of industrial parks of the province, Yen My industrial park has received 35 projects (15 DDI projects and 20 FDI projects), with a total registered investment capital of about 2,3 billion VND, with an occupancy rate of 57,6%. At the meeting, the Korea Desk expert highly appreciated Yen My Viglacera industrial park in terms of scale, transportation system, wastewater treatment system (8.000 m3/day), incentives and support from the industrial park for foreign investors.
Delegates working at the Yen My industrial park.After finishing working at Yen My industrial park, the delegation continued to have a meeting at the office of Hung Yen Group, and at the same time surveyed and worked at 3 industrial clusters: Kim Dong, Dang Le and Chinh Nghia. In the meeting with Hung Yen Group, Mr. Tran Van Cuong, Deputy Director of Hung Yen Industry and Trade Department, illustrated the potential, advantages and opportunities for attracting investment into the province. These 3 industrial clusters belong to the Kim Dong - An Thi Industrial, Urban and Service Park project (scale of 825ha). This is a key project of Hung Yen province, including 5 industrial clusters, 1 industrial park and 1 urban-service area. Currently, the industrial cluster is in the process of land treatment, expected to start infrastructure construction in March 2024 and handover land to secondary investors in June 2024.
Mr. Tran Van Cuong, Deputy Director of Hung Yen Industry and Trade Department, spoke at the meeting.
Continuing the working program, on the morning of February 27, the delegation conducted a survey at Hung Yen Clean industrial park (VTK). “VTK” stands for “Vietnam Together Korea,” representing the cooperation between Vietnam and Korea, symbolizing the space where both countries create value and form new cultures. The project is invested by a joint venture of 05 investors including Korea Land and Housing Corporation (LH), Korea Overseas Infrastructure and Urban Development Corporation (KIND), KBI Construction, Shinhan Bank and TDH Ecoland Urban Development and Investment Joint Stock Company.
VTK expert shares about the geographical location of VTK Hung Yen industrial park.
At the meeting, VTK experts said that Hung Yen is a locality with many advantages for developing industrial parks, meeting all the conditions for development in the industrial field, especially in the field of green industry, urban development process with modern services. The socio-economic infrastructure is being invested strongly and developed comprehensively with a convenient transportation system, developing rapidly and having high connectivity. By 2050, Hung Yen province will focus on developing the green industry associated with environmental protection.
The delegation with VTK experts.
In the afternoon on the same day, the Foreign Investment Attraction Training Conference was successfully organized at the headquarters of the Management Board of industrial parks of Hung Yen Province with the participation of more than 50 delegates from industrial parks, industrial clusters, investment promotion agencies, local businesses... The Conference was attended by Mr. Nguyen Ba Hai, Deputy Director of the Investprocen, Vietnam Trade Promotion Agency, Ministry of Industry and Trade; Mr. Sung Wook Cha, Head of Korea Desk, Deputy General Director of KOTRA Office in Hanoi and representatives of local departments.
Delegates attending the conference.
At the opening of the Conference, Mr. Nguyen Ba Hai, Deputy Director of Investprocen, shared about the activities of the Vietrade in general and the investment promotion events and programs of Investprocen in particular. In the past, the investment promotion delegations in Korea organized by Investprocen have attracted hundreds of potential investors to attend the conference. Investprocen has also successfully organized activities to welcome investment promotion delegations to Vietnam, and organized trade and investment connection seminars to introduce potential foreign investors to localities, industrial parks, industrial clusters and Vietnamese enterprises.
In 2023, Investprocen published the Vietnam Investment Promotion Guidebook in English and Korean languages in a socialized form, attracting many industrial parks and enterprises to participate in sponsoring. The Guidebook will be distributed directly to international organizations during the working programs of the Ministry and the fairs/exhibitions organized by the Ministry, as well as sent to the Vietnam Trade Offices abroad for distribution to organizations and enterprises interested in doing business in Vietnam. In addition, he proposed solutions to support the introduction of industrial parks to investors, such as updating sufficient information about the industrial parks and clusters in the introduction documents, updating sufficient languages for potential investors, and proactively approaching foreign investors. He also suggested that industrial parks and clusters need to be more proactive in approaching foreign investors by participating in investment and trade promotion delegations in Korea, and conferences organized by Vietrade.
Mr. Nguyen Ba Hai, Deputy Director of Investprocen, Vietrade, gave the opening speech at the conference.
Sharing with delegates, Mr. Sung Wook Cha said the purpose of Korea Desk is to support investment and business activities of Korean businesses in Vietnam by solving difficulties and creating favourable conditions that benefit Korean investment and support investment promotion activities of the Vietnamese Government and localities. In addition, Mr. Cha also shared about economic trends and investment potential in the Vietnamese market from the perspective of Korean experts, the status of Vietnam-Korea investment and trade, the main activities of Korea Desk and how to attract Korean investors into Vietnam, as well as answered questions from investment promotion officials of Hung Yen province.
Mr. Sung Wook Cha, Head of Korea Desk, Deputy General Director of KOTRA Office in Hanoi spoke at the conference
At the training conference, the delegates exchanged and asked many questions to the Korean expert related to improving investment promotion skills for officials and how to attract effective investment for the specific characteristics of each industrial park in the locality, as well as how to approach potential Korean investors through participating in programs and seminars organized by Kotra. Currently, Korea is the third largest trading partner of Vietnam and the country with the largest FDI capital invested in Vietnam. As of January 2024, the total FDI capital from Korea has reached 86 billion USD.
Through the training conference, the industrial parks of Hung Yen province have the opportunity to promote the planning and investment attraction potential of the province, exchange and discuss with Korean expert to approach the methods and experience of improving the strengths to attract Korean businesses and investors.
Source: invest.vn, [22/03/2024]