RoK firms eyes Yen Bai investment
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.
Workers at a mechanical and construction company in Yen Bai province (Photo: VNA)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 favourable conditions for foreign investors.
The province is working with Hai Phong city on a in-land waterway and a logistics centre 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 205 million USD into Yen Bai.
The export value of FDI enterprises in the locality reached 30.96 million USD in 2015, up 10.6 percent over the yearly target.
Foreign-invested businesses have brought jobs to some 1,500 labourers and contributed nearly 125 billion VND (5.6 million USD) to the State budget.-VNA
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