The authorities of the northern mountainous province of Yen Bai on August 29 met a delegation from the RoK Business Association who came to explore investment opportunities in the province.
President of the Association, Shim In Bo, who led the delegation, highlighted the localities’ potential for Korean investors.
The Association wants updates on the province’s socio-economic development plans, incentives for foreign investors, local infrastructure and human resources to develop a solar power project in the province, he said.
Chairwoman of the provincial People’s Committee Pham Thi Thanh Tra pledged that the province will create favorable conditions for foreign investors.
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| Workers at a mechanical and construction company in Yen Bai province |
The province is working with Hai Phong city on an in-land waterway and a logistics center to facilitate goods transportation, she said.
She also expressed her support for the proposed RoK solar power project.
Yen Bai is home to five industrial parks with developed infrastructure facilities, with three located in Yen Bai City.
Two other environmentally-friendly industrial parks are under construction to lure more foreign direct investment (FDI).
Foreign investors, mainly from India, Singapore, Chinese Taiwan, China and Japan, have poured over USD 205 million into Yen Bai.
The export value of FDI enterprises in the locality reached USD 30.96 million in 2015, up 10.6 percent over the yearly target.
Foreign-invested businesses have brought jobs to some 1,500 laborers and contributed nearly VND 125 billion (USD 5.6 million) to the State budget.
Source: VNA