.jpg "Secretary of Hai Phong Party Committee Le Tien Chau works with major Korean corporations")
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Total foreign direct investment from South Korea into Vietnam stands at about 92 billion USD, with Hai Phong alone accounting for around 16 billion USD.
Head of the Hai Phong Economic Zone Authority Le Trung Kien had a meeting with South Korean businesses operating in Hai Phong on the afternoon of August 25.
In attendance were leaders of infrastructure developers of Trang Due and DEEP C industrial parks.
Kien noted that total FDI from South Korea in Vietnam has reached about 92 billion USD, with Hai Phong alone accounting for around 16 billion USD.
He emphasized that, following its recent merger with Hai Duong province, Hai Phong now has a total area of nearly 3,200 km2 and a population of about 4.7 million, offering vast development potential.
Recently, the National Assembly has passed Resolution 226 on piloting special mechanisms and policies for Hai Phong’s development, which include the establishment of a free trade zone, greater delegation of authority to the Hai Phong Economic Zone Authority, and streamlined procedures to reduce time and administrative burdens for businesses.
The Head of the Economic Zone Authority expressed his hope that South Korean businesses would continue to expand their investment activities in Hai Phong and help attract more investors to the city. He affirmed that Hai Phong always pays close attention to and creates the most favorable conditions for South Korean businesses, which remain among the city’s most important partners.
In the near future, the city will expand Korean language education, further invest in urban transport infrastructure, and develop healthcare, education, and public amenities. It will also ensure public security and order to create the most open and favorable investment environment for South Korean enterprises.
Kien stated that he would direct solutions to businesses’ proposals and recommendations within his authority and work with relevant departments and the city authorities for matters beyond his jurisdiction.
Representatives of South Korean companies expressed their deep appreciation to the city’s leadership, the Hai Phong Economic Zone Authority, and other departments for their consistent support, which has enabled their investments in Hai Phong to be successful and effective, contributing to the city’s growth. They also affirmed their commitment to continue accompanying Hai Phong, studying opportunities, and expanding their investment scale in the city.
Business representatives shared their delight at Hai Phong’s post-merger opportunities and potential for development, which have drawn strong interest from South Korean investors. They particularly highlighted the city’s innovative and open-minded leadership and friendly government, which further inspire investors.
The businesses expressed their wish for Hai Phong to continue improving infrastructure, especially transport connectivity; build more worker housing and rental housing; strengthen workforce training and recruitment for industrial parks; ensure stable electricity and water supply; and expand utility services in healthcare, education, tourism, and entertainment.
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