Vietnam’s Bac Ninh province woos Korean firms’ bold investments

A group of delegations from Vietnam held a conference in Seoul on Thursday to promote the Vietnamese province of Bac Ninh to rise as an industrial zone, calling for active investments from South Korean companies.

The event -- co-hosted by the Embassy of the Socialist Republic of Vietnam and the province’s provincial people’s committee and sponsored by Viglacera, the country’s leading building materials manufacturer and industrial parks operator -- sought to introduce the area’s industrial infrastructure and vision for foreign investments.

“In line with Bac Ninh province’s rapid development, we’re continuously trying to improve the investment environment (to make it lucrative for foreign companies),” said Nguyen Anh Tuan, secretary of the Bac Ninh Provincial Party Committee and head of the Provincial Delegation of National Assembly Deputies, during the opening remarks.

“Bac Ninh province has a geographical location advantage. It’s located in the northern part of Vietnam, and the area also lies at the northern gateway of Hanoi, the capital of Vietnam. It's location is good specifically for transportation,” he added.

He noted that the province aims to attract investment in the semiconductor industry, the bio and health care industries, cosmetics, public transportation infrastructure, trade and the logistics sector and create a new city with ecological infrastructure. The region is also looking for investments in energy, green growth and the digital economy, he added.

The 7,000-hectare industrial zone is home to some 16 industrial parks. Currently, only 60 percent of the area is occupied.

Vu Van Chung, the deputy director of the Foreign Investment Department under the Ministry of Planning and Investment, noted that South Korean firms account for a large portion of the country’s industrial production and provide stable jobs for workers.

“To cater to companies’ needs and wants, (the province) is also putting in efforts to beef up workers’ capabilities by training and educating them on technology,” said Vu Van Chung, expressing hopes of Korean companies’ bold investments.