Ba Ria-Vung Tau calls for RoK investment
The southern province of Ba Ria-Vung Tau popularised its investment opportunities and attraction policies at the Republic of Korea Trade-Investment Promotion Agency in Seoul on October 18.
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| Overview of the event |
Linh said that Ba Ria-Vung Tau lies in the Southern Key Economic Region of Vietnam, about 60km from Ho Chi Minh City, serving as a gateway to the East Sea for southeastern localities and the whole country. It helps connect ASEAN countries with the East Sea, he said.
The provincial leader highlighted that the locality will focus on developing major sectors such as heavy industry, seaports, logistics, tourism and high technology agriculture.
He called on RoK firms to invest in big industrial projects using modern technologies which are friendly to the environment, helping promote the locality’s socio-economic growth.
Linh told the participants that the province is in need of investment to the Cai Mep Ha logistics centre as well as other projects providing logistics services for its international ports.
At the same time, Ba Ria-Vung Tau also called for major and prestigious investors to pour money into high quality tourism projects as well as high-technology agricultural projects.
Deputy Ambassador Tran Truong Thuy stressed that the event is held in a suitable time as RoK businesses are increasingly interested in Vietnam. He said that this is a good chance for RoK investors to get better understanding of business opportunities and preferential policies in the province.
The RoK is now the biggest investor in Vietnam with over US$61 billion as of September 2018. With two-way trade reaching over US$60 billion in 2017, it is also the second largest trade partner of Vietnam, while Vietnam is the RoK’s fourth biggest.
Sound bilateral political relationship and close people-to-people contacts are also factors ensuring the growth of the economic partnership between the two countries.
