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(QNO) - The Vietnam- South Korea Business Summit happening in Chu Lai of Quang Nam province is a golden chance for provincial South Korean investment attraction.
According to Standing Deputy Chairman of the Quang Nam provincial People’s Committee Huynh Khanh Toan, Chu Lai was chosen for the Vietnam- South Korea Business Summit because the Quang Nam- South Korea diplomatic and cooperative relations in cultural exchange, public health, education, twinned cities, community development and investment had been effective.
South Korea is one of the key partners of Quang Nam. There are now 54 South Korean FDI projects with USD 570 million in Quang Nam, accounting for the largest number of FDI projects compared to 30 other countries and territories investing in this province.
These projects provide jobs for 25,000 people. They comply well with Vietnamese laws and regulations. Quang Nam is believed as a reliable address for their investment.
The Vietnam- South Korea Business Summit taking place in Quang Nam is a golden chance for the province to introduce its images, potential and strengths, preferential policies and mechanism to South Korean investors.
Industry, modern agriculture, science and technology, culture, education and people’s exchange are considered as priority areas of Quang Nam- South Korea cooperation.
It can be said that South Korean investors have believed in and chosen Quang Nam because of its open and friendly investment environment, better infrastructure, transparent investment procedures, and equality between foreign investors. Moreover, Quang Nam authorities’ promises of facilitating South Korean businesses have made them choose this locality for their investment.
At present, there are 54 South Korean projects among 188 FDI projects in Quang Nam. However, this result has not been equivalent to Quang Nam potential and strengths yet.
So, Quang Nam will improve the quality of its human resources, developing its infrastructure, helping investors get over their difficulties and obstacles in land clearance and resettlement, promoting administrative reform in order to attract more and more South Korean and other foreign investors.
To choose proper and potential investors, Quang Nam government will select technology. Project effectiveness is measured by its impacts on the locals’ standards; therefore, Quang Nam focuses on the quality of investment projects but not their quantity.