Dong Nai – promising place for Korean investors

(ĐN)- As reported in current news, the Dong Nai delegation came to Korea for promoting Korean investment in the local. Their visit took place from 7 until 15 May, 05. Two workshops with their subjects of "calling on Korean investors to come Dong Nai" have been held in Seoul and Busan successfully. Learning experience from other abroad visits to Taiwan, Japan and Singapore by 2004, this visit to Korea was prepared carefully and professionally.

The workshop in Busan

(ĐN)- As reported in current news, Dong Nai delegation came to Korea for promoting Korean investment in the local. Their visit took place from 7 until 15 May, 05. Two workshops with their subjects of "calling on Korean investors to come Dong Nai" have been held in Seoul and Busan successfully. Learning experience from other abroad visits to Taiwan, Japan and Singapore by 2004, this visit to Korea was prepared carefully and professionally.

* Choosing potential investor

Having 110 projects with total invested capital of USD 1.13 billions in Dong Nai, Korean investors is one of three leading foreign investors in the local. For this reason, Korea was chosen to be the first place in 2005 for promoting investment in Dong Nai. The result that gained from two workshops in Korea is a good evidence for the best choice. This shows higher number of participants than that of organizer’s expectation. The workshop in Seoul, for example, attracted 240 Korean businessmen that are higher than the number of the invited guests. In fact, 160 invitation letters were sent to guests by the organizers. They hoped to receive about 200 guests. So, the workshop was held in the hall with 200 seats. Due to not enough seats for the participants, many members of the Dong Nai delegation had to offer their seats for guests. Many participants, however, had to stand because of crowded hall but they felt happy as coming there. Furthermore, after these workshops finished, many Korean businessmen who heard lately about them contacted the Vietnamese Embassy in Korea to ask information about the Dong Nai delegation and these workshops as well. The success of these workshops is to draw special attention of small and medium Korean enterprises. Many questions that related to rights and duties of foreign investors, foreign investment policies, infrastructure etc. were asked the delegation.

Some Korean partcipants in the workshop had to stand because of crowded hall

* "Korean pioneers"

Questions from Korean businessmen have been answered clearly by Mr. Vo Van Mot as the President of the Provincial Peoples’ Committee and his related representatives. But, answers from Korean businessmen who are having good business in Dong Nai such as Mr. Rye Jae-Mok, General Director of I.S.A Company Ltd. and Chairman of Korean Business Association in Dong Nai, Mr. Nam Taek Bom, Former General Director of LG Vina company and Mr. Chuang Sang Gil, Former Director of Cho Hung Vina Bank etc. were the most convincing for their fellow-countrymen. They are known as “Korean pioneers” in investment in Dong Nai. As having invited by the provincial leaders, they were present at these workshops and cleared up queries of their fellow-countrymen.

Specially, the presence of Mr. Park Yen-Cha as the President of Taekwang Vina and the Vietnamese Honorary Consul General to Korea were impressive. He told his experience and feelings as investing in Dong Nai. "We are going to mark the 10th anniversary of investing in Dong Nai. As you know, the kind help of the Dong Nai authorities played an important role in the success of my group. In addition, Vietnam government considered foreign investment as an important part of the national economy structure", he added.

In the other hand, Mr. Chung Sang Gil as Former Director of Cho Hung Vina Bank advised hesitant Korean investors to promptly invest in Dong Nai. "At present, foreign investors may involve dificulties in Vietnam, particularly, in Dong Nai. This place, however, will be prosperous 10 years later. If you come there too late, there will be no chance for you". He said.

Besides, Mr. Ryu Jae-Mok as General Director of I.S.A Company Ltd. affirmed: "as soon as you come to Dong Nai, you will decide immediately to invest there. In fact, no one among Korean investors in Vietnam has suffered loss."

The above "Korean pioneers" played a significant role in the success of these workshops.

For a long time, despite efforts of the Vietnam Government and the Dong Nai authorities in popularizing the foreign investment policies, many foreign investors in which the participants in these workshops included are still short of information. They are potential investors who are looking for chances to invest in Viet Nam, particularly, in Dong Nai. Therefore, these workshops are the best way to let them know well about the foreign investment situation in Vietnam. Accordingly, they will raise their trust on the foreign investment policies of Vietnam Government, in particular, that of Dong Nai province.

Huy Thanh