Mr. Nguyen Quang Hoa, Deputy Director of the Binh Phuoc Investment, Trade and Tourism Promotion Center (ITTPC), shared the orientation for boosting investment centered on "focus, diversity and efficiency".
Binh Phuoc province lies in the southern key economic zone, bordered by strongly industrially developed Binh Duong and Dong Nai provinces, and acts as a gateway between the Southeast region with the Central Highlands and neighboring Cambodia.
As of June this year, cumulative direct investment from South Korea in Viet Nam had reached nearly US$87.5 billion with more than 10,000 investment projects.
Billions of dollars from global investment funds will flow into the capital markets if Viet Nam is upgraded to the emerging market status, said World Bank Senior Financial Sector Specialist Ketut Ariadi Kusuma.
During a meeting with the Korean Chamber of Commerce and Industry in Vietnam (KoCham) on the afternoon of August 8, 2024, Mr. Tran Duy Dong, Chairman of the Vinh Phuc Provincial People's Committee, affirmed, "Vinh Phuc will provide optimal conditions for both current and future investors, particularly those from Korea."
Despite having fewer comparative advantages in transportation connectivity, a fragmented terrain, and limited land available for urban development and large-scale industrial parks, Bac Kan has become an attractive destination for investors in recent years.
The northern province of Bac Ninh became the most attractive destination for foreign direct investment (FDI) in Viet Nam during January-July this year.
Viet Nam has sustainably enjoyed foreign direct investment (FDI) inflows well above 4 percent of its GDP, among the highest in ASEAN (as a share of GDP), noted HSBC in its report Viet Nam at a glance released on August 8.
Vinh Phuc's strategic geographic location, open investment climate, modern infrastructure, transparent legal framework, robust security measures, and skilled labor force have collectively positioned it as a highly attractive destination for investors, particularly those from Korea.
From January 1-July 15, as many as 103 foreign suppliers registered, declared and paid taxes worth VND4.039 trillion (nearly US$161 million) through the electric portal for foreign suppliers, reported the General Department of Taxation.
Ha Noi attracted US$1.3 billion in foreign direct investment (FDI), marking a remarkable 65 percent increase compared to the same period in 2023, according to the Ha Noi Department of Planning and Investment.
Vietnamese
October 2024
Hanoi
