Central province calls for investment from Korea
Central province calls for investment from Korea
The central province of Quang Nam has called for greater investment from South Korean investors during an investment promotion in Osan and Yongin cities.
Participating in the promotion were 100 businesses from South Korea.
The head of the provincial investment promotion and business support agency, Vo Van Hung, said the promotion provides an opportunity for South Korean enterprises to explore investment conditions and policies offered by the province.
"We introduced our one-stop shop and priority policies in offering investment licences, procedures and site clearance," Hung said.
"The province will allocate free land for investors building apartments for workers and provide quality workers, as well as supporting investors in human resources," he said.
He added that many foreign companies have sought investment opportunities in the textile and garment industries, due to the low cost of production and labour.
Choi Yong-joo, chairman of Panko Company which invested in a US$30-million textile-garment-dyeing factory in the province, said he chose Quang Nam as the second province to invest in Viet Nam after starting a successful business in Binh Duong.
He added that the central province's government had created favourable conditions for foreign investors seeking to open businesses in industrial parks.
According to the provincial promotion and business support agency, Quang Nam has attracted 103 projects with a total investment of $5.2 billion, of which three foreign direct investment projects increased their planned capital.
Further, Pepsico Viet Nam, alone, has increased the allocated capital for their Central Green Field project at Dien Nam-Dien Ngoc Industrial Zone from $21 to $56 million.
