RoK firms eyes Yen Bai investment

President of the Association, Shim In Bo, who led the delegation, highlighted the localities’ potential for Korean investors.

The Association wants updates on the province’s socio-economic development plans, incentives for foreign investors, local infrastructure and human resources to develop a solar power project in the province, he said.

Chairwoman of the provincial People’s Committee Pham Thi Thanh Tra pledged that the province will create favourable conditions for foreign investors.

The province is working with Hai Phong city on a in-land waterway and a logistics centre to facilitate goods transportation, she said.

She also expressed her support for the proposed RoK solar power project.

Yen Bai is home to five industrial parks with developed infrastructure facilities, with three located in Yen Bai City.

Two other environmentally-friendly industrial parks are under construction to lure more foreign direct investment (FDI).

Foreign investors, mainly from India, Singapore, Chinese Taiwan, China and Japan, have poured over US$205 million into Yen Bai.

The export value of FDI enterprises in the locality reached US$30.96 million in 2015, up 10.6 percent over the yearly target.

Foreign-invested businesses have brought jobs to some 1,500 labourers and contributed nearly US$5.6 million to the State budget.