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Official Gazette

Monday, September 16, 2019

Vietnam encourages RoK businesses to invest in specialized industrial parks

Updated: 09:27’ - 09/09/2019
Vietnam encourages businesses from the Republic of Korea (RoK) to invest in specialized industrial parks targeting Korean firms and Vietnamese small- and medium-sized enterprises.

Deputy Prime Minister Vuong Dinh Hue meets with a delegation of the Korea Federation of Small and Medium Enterprises (KBIZ) Kim Ki-mun in Hanoi on September 5__Photo: VNA

Deputy Prime Minister Vuong Dinh Hue made the call while meeting Chairman of the Korea Federation of Small and Medium Enterprises (KBIZ) Kim Ki-mun in Hanoi on September 5.

He asked the KBIZ to work with Vietnam’s Ministry of Planning and Investment and concerned localities to select locations and methods to implement such projects.

The Deputy PM also proposed the KBIZ help Vietnam to improve skills for local workers.

He said the RoK is one of the biggest foreign investor in Vietnam with total registered capital of USD 65 billion. Two-way trade reached USD 64 billion in 2018, and is expected to hit USD 100 billion by 2020, he said.

The Vietnamese Government will continue to attract foreign investment and offer high incentive mechanisms for projects using modern and environmentally-friendly technology, and investors with good management skills and willing to connect with domestic businesses, he said.

Kim Ki-mun said the RoK’s Government is conducting the construction of RoK industrial parks in other countries based on its New Southern Policy.

Besides Myanmar, Vietnam is a destination that Korean firms want to invest in building such industrial parks, he said.

Noting that some 47,000 Vietnamese workers are employed in the RoK, Kim said Vietnamese workers need to further improve their skills. He also asked the Vietnamese Government to relax rules on overtime working hours to meet the needs and interests of both employers and workers.- (VNS/VLLF)
 

 

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