On November 8 and 9, the delegation of Bac Ninh province organized a seminar to connect Korean enterprises, met with Samsung and Amkor corporations, and worked with the Governor of Gyeongsangbuk province - a locality that has many cooperative relationships with Bac Ninh.
During the meetings, the delegation introduced to Korean corporations and enterprises useful information about culture, history as well as outstanding achievements in socio-economic development of the province in recent times. Although the locality with the smallest area in the country, Bac Ninh has the second highest export value in the country; GRDP per capita ranks third; total foreign direct investment ranks fourth; per capita income ranks sixth in the country.
Bac Ninh is considered a bright spot in the country in attracting foreign investment with more than 2,000 valid FDI projects with a total investment capital of more than 25.6 billion USD from 39 countries and territories.
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| Korean business connection seminar with the participation of more than 20 businesses. |
Sending greetings and sincere friendship to representatives of Korean corporations, organizations and business communities, Bac Ninh Provincial Party Secretary Nguyen Anh Tuan emphasized that the Vietnam-Korea relationship has developed strongly, substantially and achieved many great achievements. The two countries have become each other's leading important partners in many fields, especially in the fields of economics, trade and investment.
Bac Ninh province is always interested in promoting economic cooperation and investment promotion with Korean partners, especially in the context that the two countries have just upgraded their relationship to "Comprehensive Strategic Partnership" in December 2022.
For Bac Ninh province, Korean enterprises are very important investment partners, currently developing very strongly and successfully, and are considered a model of determination and efficiency in investment. Bac Ninh's goal in the coming time is to attract investment associated with sustainable development, encourage linkages between FDI enterprises and domestic enterprises, and increase the localization rate in products.
In particular, on the afternoon of November 9, in Seoul city, Bac Ninh province held a seminar connecting Korean enterprises with the participation of more than 20 enterprises. The participating enterprises highly appreciated the fact that the delegation of Bac Ninh province came and organized activities to introduce and promote investment right in Korea.
Expressing their confidence in the environment, potential and development of Bac Ninh province in recent times, Korean enterprises directly discussed a number of issues related to land rent incentives; administrative and legal procedures when investing in Vietnam; and at the same time, they hoped to connect with the province in the fields of manufacturing and distributing industrial equipment, electronic components, semiconductors, environment, supporting human resource training, etc.
Mr. Kim Lee Hoo, Deputy Director in charge of production of Amkor Group, highly appreciated the goodwill and support of the Vietnamese Government, ministries, branches, especially Bac Ninh province, which created favorable conditions for the semiconductor material and equipment manufacturing, assembly and testing factory of Amkor Technology Vietnam Co., Ltd. in Bac Ninh province with a total registered investment capital of phase 1 of about 530 million USD to be inaugurated and put into operation last October.
The Group wishes to increase the use of highly qualified engineers and personnel in Vietnam, and at the same time make positive contributions to the development and formation of the Group's semiconductor ecosystem in Vietnam.
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| The delegation visited and worked at Samsung Group. |
Visiting and working at Samsung Group, Secretary of Bac Ninh Provincial Party Committee Nguyen Anh Tuan hopes that in the coming time, the relationship between Samsung and Bac Ninh province will develop more and more well and effectively, especially when the two countries upgrade their relationship to "Comprehensive Strategic Partnership"; at the same time, he hopes that Samsung Group will continue to sympathize and share on the issue of applying global minimum tax; consider expanding investment, restructuring production and changing the production environment in Vietnam in general, Bac Ninh in particular, towards green transformation and smart production.
Welcoming the delegation of Bac Ninh province to visit and work, the representative of Samsung Group congratulated the achievements in socio-economic development of Bac Ninh province. Currently, Samsung has more than 2,100 partners worldwide, of which, Samsung Electronics alone has four business entities and 6 research centers.
Samsung Group hopes that the National Assembly and the Government of Vietnam will consider and soon have a solution related to the global minimum tax issue; at the same time, have incentives for products manufactured in Vietnam and supplement corporate tax reduction in Bac Ninh in the coming time.
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| The delegation visited and worked in Gyeongsangbuk province. |
At the working session in Gyeongsangbuk province, the Secretary of the Bac Ninh Provincial Party Committee respectfully invited Governor Lee Cheol-Woo to visit Bac Ninh province in the near future and will sign a Memorandum of Understanding to establish friendly cooperation between the two provinces to promote the increasingly developing exchange and cooperation in all fields.
The Secretary of the Bac Ninh Provincial Party Committee hopes that the Governor will pay attention to speeding up the Vietnam Village Project in Bonghwa. Support and encourage Korean enterprises in general and enterprises from Gyeongsangbuk province in particular to explore investment in Bac Ninh, especially in the areas that the province is prioritizing in terms of economy, trade, agriculture, culture, tourism, health care, education and training, etc.
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