Hoa Binh promotes trade, investment in UK

Addressing the event, Vietnamese Ambassador to the UK Nguyen Hoang Long said that Hoa Binh, which borders the capital city of Hanoi, has a favourable location and abundant investment opportunities.

He suggested British investors seek opportunities in partnering with Hoa Binh in the fields of exploring tourism, high-tech agriculture, and tertiary education development, as well as resort real estate.

Bui Van Khanh, Chairman of the provincial People’s Committee, said that Hoa Binh is focusing on four strategic areas for socio-economic development, including planning, infrastructure development, improvement of institutions and the investment and business environment, and human resources development.

He highlighted prioritised investment areas such as green, clean and high-quality agricultural production, agro-forestry-aquatic production and processing, resort tourism development, and ecological urban development.

The provincial leader underlined that Hoa Binh plans to further expand its basic infrastructure system to facilitate investment activities, while providing preferential policies to investors, including exemption and reduction of land rent, and import-export taxes, and support in vocational training.

Khanh called on British investors to invest in Hoa Binh in the fields of agriculture, industry, services, tourism, and development research, pledging that the local administration always supports and accompanies them for the benefits of both sides.

Chairman of the Vietnam Business Association in the UK (VBUK) Paul Hoang said that the association is ready to connect Vietnamese and British partners and support them in dealing with problems during the cooperation process such as differences in business culture.

Hoang Le Hang, First Secretary of the Vietnam Trade Office in the UK, said that Vietnam and the UK have enjoyed positive economic partnership, with two-way trade reaching over US$5.26 billion in the first nine months of this year, representing a year-on-year rise of 0.8% amid global economic downturn.

Particularly, a number of fruits of Hoa Binh have been sold in the UK, including Cao Phong orange, Cao Phong tangerine, Tan Lac red pomelo, Dien grapefruit, dragon fruit and about more than 100 local specialty products, she noted.

The conference was part of a programme of Hoa Binh to promote trade and exports in the UK market. On October 13, the province is scheduled to sign a memorandum of understanding with Longdan Group, a leading importer of Vietnamese products in the UK, on cooperation in exporting Hoa Binh products to the European market.

Meanwhile, R.Y.B JSC – a pioneer in bringing Vietnamese fruits to the world - and Longdan Group will also sign a deal on the import-export of Dien pomelo after the fruit was welcomed by consumers when it was first exported to the UK in late last year.

Hoa Binh, a northwestern mountainous province, has a natural area of 4,590 sq.km and a population of nearly 950,000, which is home to six ethnic groups.

The province is adjacent to Hanoi and National High-Tech Park, connecting the Northern Delta with the Northwest mountainous regions. It has a transport system connecting with Noi Bai international airport, Tho Xuan airport in Thanh Hoa, Hai Phong seaport, and Huu Nghi international border gate to China.

In 2022, the province’s growth rate reached 9.03%, while its export revenue hit US$1.43 billion, and urbanisation rate was 33.5%.

Hoa Binh currently has eight industrial parks with a total area of over 1,500 hectares, along with 15 industrial clusters covering more than 1,200 hectares. By 2025, the total area of local industrial parks and clusters is expected to account for 1% of the natural area of the province.

To date, the province has attracted 736 projects, including 36 foreign-invested projects with combined capital of over US$600 million.