(ĐN)- In the afternoon of May 10, 05, the workshop with its subject of "calling upon Korean investors to come Dong Nai" was held in the hall of SBC located in Seoul by the Dong Nai delegation.
This workshop drew special attention of Korean investors.
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| Mr. Vo Van Mot answering queries from Korean Investors |
Delivering opening speech, Mr. Pham Tien Van as the Vietnamese Ambassador to Korea mentioned about the good relationship between Vietnam and Korea, the foreign investment situation in Vietnam in which Dong Nai province included.
"Korea is not only the biggest trade partner but also provided much ODA for Vietnam. At present, Vietnam is a safe place for foreign investors. Politics and society are stable here. Its annual economic growth reaches up 7%. Vietnam is a country with its fastest economic growth in the Southeast of Asia. Especially, foreign invested capital in Dong Nai is considerable and only lower than that of Ha Noi and Ho Chi Minh cities." Mr. Pham Tien Van said.
At this workshop, Mr. Vo Van Mot as Chairman of the Provincial Peoples’ Committee expressed his opinion. "Dong Nai is trying their best to become a safe and reliable place for foreign investors following the Government guideline on foreign investment policies. Dong Nai is the key economic area in Vietnam. Its infrastructure including power, water, communication, transportation, public utilities and entertainment meets foreign investors’ demands. In addition, the local workforce is plentiful and has industrial style of work. These are the advantages of Dong Nai for attracting foreign investors. In last year, the provincial average economic growth was 13% that was 1.7 times against the national average economic growth. Hence, Dong Nai is ranked as the top industrial province in Vietnam. There are 600 valid investment licenses with their total invested capital over than USD 7.2 billions in Dong Nai. Our province is one of 3 leading provinces and cities that attracts foreign investment. The Dong Nai authorities always offer favorable conditions to foreign investors and find out a reasonable solution for administrative procedures following their line of "Being a friend of you" ." Mr. Vo Van Mot told.
Up to the end of 2004, there are 110 projects as invested by Korean investors in Dong Nai with their invested capital over than USD 1.3 billions. Korean investors are one of 3 leading foreign investors in the local. Their big projects consisted of Hwaseung (USD 64 millions), Choongnam (USD 58 millions), Hyosung (USD 52.5 millions), Daeshin (USD 50 millions), Taekwang (USD 41 millions), Asia Stainless (USD 30 millions), LG chemical (USD 21.5 millions), Daewoo Pharma (USD 14.6 millions) etc. Korean investment, however, is lower than their potentials and the provincial expectation. Mr. Vo Van Mot also informed the Korean businesses about favorable investment fields, favorable places, the local management structure and favorable investment policies and so forth.
In particular, some Korean investors including Mr. Taek-Bom Nam (Director of LG Household & Health Care Co. Ltd.), Mr. Sang-Gil Chung (Chohung Bank), Jae-Mok Ryu (Director of I.S.A Vietnam Industrial Co. Ltd.) and others who have gained good results in Dong Nai during past years were present at this workshop. They highly appreciate the local authorities’ support and help. They also stated that conditions in Dong Nai was better than those of other places and countries. Based on the local advantages, they called upon their fellow-countrymen to invest fearlessly in Dong Nai.
The Korean businesses paid their attention to useful information as provided by the delegation. Many questions related to transportation, fuel, limited investment capital, land lease time-limit and others were asked the delegation. The related representatives of the delegation answered them one by one in details.
Huy Thanh (Email from Korea)
