More Korean businesses will invest in Binh Dinh

The seminar saw the participation of Minister of Finance Ho Duc Phoc, Deputy Minister of Foreign Affairs Nguyen Minh Vu, Korean Ambassador to Vietnam Park Noh-wan, Secretary of Binh Dinh Provincial Party Committee Ho Quoc Dung, and Chairman of Binh Dinh Provincial People's Committee Nguyen Phi Long and Korean and Vietnamese enterprises.

Speaking at the seminar, Dung expressed his pleasure to welcome the distinguished guests and briefly introduced the potential of Binh Dinh.

He said that Binh Dinh Province was located in the most favorable position of Southeast Asia, and it was the nearest gateway to the East Sea from ​​the Greater Mekong sub-region through Quy Nhon international seaport.

Its transport infrastructure is quite convenient with available system of roads, railways, airways and sea routes.

Quy Nhon international seaport - one of ten large seaports of Vietnam, has the advantage of an airtight anchorage area which can receive ships of up to 70,000 tons safely. Phu Cat Airport has flights to and from Ho Chi Minh City, Hanoi and many other provinces of Vietnam. More air routes have been opened connecting the the province to Korea, Japan, and China. Currently, Phu Cat Airport is proposing to be upgraded to an international airport.

Binh Dinh has many potentials and advantages to develop into a tourist centre of the region, the whole country and Asia. Binh Dinh is promoting industrialisation and modernisation and is present in the group of provinces and cities with high economic growth rates in Vietnam.

Binh Dinh is gradually rising to become the growth nucleus, the industrial-service urban centre of the central key economic region. It is also an important international exchange hub, contributing to the expansion of the market in the South Central - Central Highlands region and connect it to the markets of Laos, Cambodia and Thailand.

Binh Dinh's economy in recent years has developed with the average growth rate of GRDP in the good group of the whole country. Stable political security and social order  are also basic conditions for enterprises to feel secure in investment, production and business.

“Binh Dinh always invites and creates the most favorable conditions for investors to seek investment and business cooperation opportunities. Coming to Binh Dinh, businesses will have many advantages because we are strongly committed to supporting investors from forming ideas, looking for investment opportunities, to project construction and implementation quickly and effectively," said Dung.

According to Kim Kwan Mook, General Director of the Korea Trade and Investment Promotion Agency in Ho Chi Minh City, recently, many businesses had started to consider investing in new locations with an friendly better business environment.

“Binh Dinh is such a locality,” he said.

 “I highly appreciate the event “Meet Korea 2022”, a large-scale event for both Korea and Vietnam to be held in Binh Dinh, a locality at the main gateway of the South Central region and the Central Highlands. It is a traffic hub with international seaports and airports. Currently, there are a number of Korean enterprises in shipbuilding, textiles, auto parts and animal feed production operating in Binh Dinh. In the coming time, we will strengthen support for Korean businesses interested in investing in Binh Dinh," said Kim Kwan Mook.

“The growth of the regional competitiveness index from 37th in 2020 to 11th in 2021 proves that Binh Dinh leaders have paid great attention and efforts to the development of the province. In the future, it is certain that more and more Korean businesses will invest in Binh Dinh. Many businesses are planning to invest in Binh Dinh", said Shon Young Il, Chairman of the Korean Association of Commerce and Industry in Central and South Vietnam.