Ninh Bình leaders meet Korean SMEs to boost investment cooperation

Ninh Bình leaders meet Korean SMEs to boost investment cooperation

Leaders of Ninh Bình Province held a working session on Thursday with representatives of the Korea Federation of Small and Medium Businesses (KBIZ), which has a strong presence in the northern locality.

A working session between leaders of Ninh Bình Province and representatives of the Korea Federation of Small and Medium Businesses (KBIZ) on Thursday. — VNA/VNS Photo Đại Nghĩa

At the meeting, Secretary of the Ninh Bình Party Committee Trương Quốc Huy reaffirmed the province’s commitment to creating the most favourable conditions for investors from the Republic of Korea (RoK), stressing that the success of enterprises is also the success of the province.

He said recent investment promotion activities in the RoK have further deepened ties and cooperation opportunities between the province and RoK localities.

Huy expressed his hope that more Korean businesses will expand operations in Ninh Bình, contributing to stable growth and prosperity for both sides.

According to Chairman of the provincial People’s Committee Phạm Quang Ngọc, Ninh Bình currently hosts 212 valid Korean-invested projects with a combined capital of US$2.7 billion. Of these, 145 projects worth$ 2.29 billion are located in industrial zones, while 67 projects worth $410 million are outside these parks.

Korean firms have invested heavily in supporting industries such as automobile assembly and electronic components, helping shape major industrial production hubs, including Hyundai Thanh Cong Vietnam in the Gián Khẩu Industrial Zone.

Ngọc said the newly expanded province would provide a better development space for businesses, including Korean investors. With its synchronised and modern industrial park infrastructure, transport links connecting to neighbouring provinces, seaports and airports, along with a series of key socio-economic projects under way, the province is well placed to offer stronger support to investors.

KBIZ Chairman Kim Ki Moon thanked provincial leaders for their support, noting that following the administrative merger, authorities at all levels have consistently facilitated Korean investors. He said the RoK’s expertise in smart factories and artificial intelligence could serve as a foundation for cooperation with Ninh Bình in transport and seaport projects, creating breakthroughs in socio-economic development.

After the merger, Ninh Bình province has planned 53 industrial parks covering more than 12,300 hectares, 20 of which are already operational.

The province aims to develop its northern area, formerly Hà Nam Province, into a hub for high-tech industry, innovation and high-quality human resource training; the eastern area into a maritime economic centre and the southern area into a centre for cultural industry, tourism services and clean industry.

Ninh Bình is also drafting a proposal for a provincial international airport with an initial capacity of 10 million passengers per year, to be submitted for inclusion in the national airport development plan to 2030, with a vision to 2050. In addition, the province has proposed the inclusion of Ninh Bình Port in the national seaport master plan, with a projected capacity of about 120 million tonnes of cargo annually.

With consistent investment incentives and strong support policies, Ninh Bình pledged to continue removing obstacles and working alongside Korean investors to drive breakthrough development in the coming years. 

Bizhub