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| Mr. Vuong Quoc Tuan, Standing Vice Chairman of the Bac Ninh Provincial People's Committee (far right), and Mr. Kim Jae Kyung, Deputy CEO of Korea Land & Housing Corporation (far left), exchange the MoU on Urban Development of the Southeast area of Bac Ninh City. (Photo: bacninh.gov.vn) |
Receiving the delegation, Secretary of the Bac Ninh Provincial Party Committee Nguyen Anh Tuan provided an overview of the economic and social development of the province. He emphasized that Bac Ninh, with its strategic geopolitical position, regional connectivity, high-quality human resources and effective investment attraction policies, is considered a safe, attractive and friendly investment destination by investors and businesses. To date, the province has over 2,300 foreign direct investment (FDI) projects from 41 countries and territories, with a total investment capital of nearly USD28 billion.
The Secretary affirmed that, with the support and direction of the RoK government, including contributions from Minister Park Sang Woo, Korean businesses have continuously supported, invested and succeeded in Vietnam in general and Bac Ninh in particular. This has deepened the comprehensive strategic partnership between Vietnam and the RoK. The RoK leads with nearly 1,000 projects, totaling USD14.65 billion, accounting for nearly 60% of the total foreign investment in Bac Ninh. Korean investors have significantly contributed to the socio-economic development of the province.
Secretary Nguyen Anh Tuan also noted that with many years of experience as CEO of Korea Land & Housing Corporation (LH), Minister Park Sang Woo has always been keen on promoting the signing of a Memorandum of Understanding (MoU) on the Vietnam-Korea Urban Growth Partnership Program in June 2023, and another MoU on the Urban Development of the Southeast area of Bac Ninh City on July 1, 2024. He expressed confidence that, with its management system, financial capacity, and experience, LH will soon prepare to implement cooperative activities and potential future projects. Bac Ninh province commits to creating favorable conditions and closely coordinating with LH to successfully implement the MoU.
Highlighting the many potential projects in Bac Ninh, Secretary Nguyen Anh Tuan hoped Minister Park Sang Woo would continue to introduce Korean businesses to invest in Bac Ninh. He also expressed his hope that the urban area in the Southeast of Bac Ninh City and other projects by Korean investors in Bac Ninh would become highlights of the province's urban development in the coming years. Once completed, this urban area will be a prime example of the excellent cooperative relationship between the two countries, as well as between Bac Ninh and the RoK.
Minister Park Sang Woo appreciated the warm reception from the provincial leaders and praised Bac Ninh's strategic location, investment environment and policies. With many large businesses investing in the province and abundant labor resources, Bac Ninh is an attractive destination for Korean investors. He emphasized that the RoK and Bac Ninh have a close relationship with many similarities, including small land areas but strong economic growth. With experience in urban development, the RoK is committed to continuing to share and support Bac Ninh in successfully developing new urban areas in the future and expanding this success nationwide.
During the meeting, representatives from LH Vietnam reported on the progress of the urban growth partnership program and introduced the urban development of the Southeast area of Bac Ninh City. Provincial leaders also discussed and addressed the delegation's queries regarding the scale, implementation methods, land clearance and urban environmental issues, to expedite the project's implementation as quickly as possible.
Earlier, the delegation from the Korean Ministry of Land, Infrastructure and Transport visited and surveyed the Golden Park social housing area in Phuong Lieu ward, Que Vo town./.