Long An province to welcome a new wave of Korean and Japanese investors

A commitment by the Chairman of Long An Provincial People's Committee

The Conference on Investment Promotion - Potential and Opportunities to Attract Investment in the Infrastructure Sector of Long An Province was recently held in the capital city of Seoul, South Korea.

The event marked a highlight in the series of foreign investment promotion activities in South Korea, organized by the Long An provincial delegation. Furthermore, the Conference represents significant progress in Long An's effort to attract high-quality investment capital from South Korea.

The conference welcomed the participation of Mr. Vu Ho, Ambassador Extraordinary and Plenipotentiary of Vietnam to South Korea, Mr. Shing Choon Il, Consul General of South Korea in Ho Chi Minh City, and representatives from the local governments of Long An and Dong Nai provinces.

With nearly 150 delegates from leading South Korean organizations and businesses, including technology conglomerates, investment firms, infrastructure developers, and investment funds, the event provided a platform for networking and exploring investment opportunities.

In his opening speech, Chairman of Long An Provincial People's Committee Nguyen Van Ut affirmed South Korea's role as a key investor with a robust investment relationship with the province. Namely, South Korean businesses have significantly contributed to boosting the export growth, trade surplus, and overall socio-economic development of Long An province.

The conference presented a unique opportunity for Long An to showcase investment opportunities to South Korean organizations, enterprises, and investors. Long An maintains confidence that the combination between the strengths and expertise of South Korean businesses and the inherent potentials and advantages of Long An province, with the support of a proactive, friendly local government dedicated to creating a transparent, safe, and efficient investment environment, will enable both parties to achieve groundbreaking success, while ensuring a harmonious balance of interests among stakeholders.

Chairman Nguyen Van Ut reiterated the province's commitment to accompanying businesses, applying investment incentives as stipulated, and making necessary preparations to welcome new investment projects. In addition, administrative reforms and legal support initiatives will help bolster South Korean businesses' confidence in investing in Long An as their second home.

During the conference, Mr. Truong Van Liep, Director of the Long An province's Department of Planning and Investment, introduced the province's potentials, advantages, development orientations, and planning to the South Korean business community.

According to Mr. Liep, Long An holds a strategically important economic position, with comprehensive planning developed by a leading US planning consultancy.

Accordingly, Long An will develop following the model of one center - two corridors - three economic zones - six driving axes. Based on the defined objectives and vision, the province prioritizes attracting investment in high-tech agriculture, industrial revolution, electronic component manufacturing, software development, semiconductor industry, artificial intelligence, smart eco-urban areas, logistics port services, border economy, and renewable energy.

Notably, Long An invites investors to research and develop projects for high-quality labor training centers in the semiconductor industry.

At the conference, the Long An provincial delegation received presentations on experiences, methods of building and developing green industrial park infrastructure, net zero carbon emissions in agriculture, innovative complexes, science and technology from South Korean experts.

Encouragingly, the conference received positive feedback from South Korean investors as multiple companies expressed satisfaction with Long An's favorable investment environment, and agreed with the province's development direction. These companies have committed to continue researching, investing, and expanding investments within the province in the near future.

Opportunity to welcome a new wave of investment

In recognition of the delegation's success, Long An province signed several important memoranda of understanding with South Korean organizations and businesses during the conference. These agreements include a partnership between Long An and JDC-Saigontel-Zennith to develop a high-tech industrial zone, and environmental projects to promote a circular economy within the province.

The event established a crucial foundation to welcome a new wave of high-quality South Korean investment into Long An province, focusing on infrastructure and high technology development.

Moreover, infrastructure businesses accompanying the delegation have signed multiple memoranda of understanding with South Korean businesses. These agreements include piloting green industrial park models, investing in environmental remediation facilities, developing Vietnam - South Korea industrial clusters, and so on.

The Long An Investment Promotion Conference in South Korea marked the successful conclusion of the Long An provincial delegation's mission.

Through this working trip, numerous positive responses have been received, signalling a new and promising phase of development for the Vietnam - South Korea strategic partnership and the cooperative relationship between Long An province and South Korean agencies, organizations, and businesses.

Long An Provincial People's Committee previously held discussions with Okayama City of Japan on labor and high-tech workforce training.

Mr. Mai Van Nhieu, Standing Vice Chairman of the Long An Provincial People's Council, expressed the wish for Long An to cooperate with Okayama in areas of mutual strength. The province aims to attract investment in the processing and manufacturing industries, with a focus on electronic components, precision mechanics, and semiconductor technology to manufacture semiconductor chips, medical equipment, bioproducts, etc. Both parties also discussed cooperation in the field of labor training and export.

During the discussion, Mayor of Okayama City, Mr. Omori Masao, and Chairman of Okayama Chamber of Commerce and Industry, Mr. Matsuda Hisashi, expressed high interest and appreciation for Long An's geographical position, development potential, and skilled labor force.

The potentials of Long An province offers a favorable environment for businesses from Okayama City to explore investment opportunities, as well as develop and expand commercial activities, cold storage facilities, transshipment operations, and technical workforce training.

Additionally, Okayama City investors discussed investment cooperation plans in the fields of agriculture, automobile manufacturing and recycling, machinery importing for the construction sector. Long An province and Okayama City also discussed cooperation to establish nursing homes and conduct high-tech agricultural workforce training.

Furthermore, the Okayama Chamber of Commerce and Industry signed a memorandum of understanding with Long An province's Business Association and the Young Entrepreneurs Association to expand cooperation in labor, industry, tourism, education, and culture, aiming to initiate new and successful collaborations in the future.