Attracting Korean business investment

Solum Vina Co., Ltd., Ba Thien 2 Industrial Park, with 100% Korean capital, specializes in developing high-tech electronic components. Photo: Nguyen Luong

In recent years, Vinh Phuc has been one of the top 10 provinces with high contributions to the annual central budget. This result comes from effectively attracting investment in the industrial sector with high-tech industries such as electrical equipment, electronics, semiconductors... especially projects of investors and enterprises from Korea with a chain of links and supplies to many large corporations such as Samsung, LG, Intel...

In addition to the Government's general investment incentive policies, to create attractiveness and attract investors in general, and Korean investors in particular, the province has issued its own incentive mechanisms on land tax, corporate income tax, premises rental, etc., associated with improving the investment environment by regularly reviewing, cutting down, and perfecting administrative procedures on business investment according to the "one-stop" and "one-stop" mechanisms to ensure speed, flexibility, and compliance with regulations.

Actively support investors throughout the project's operation by organizing many dialogue and consulting conferences to receive feedback and guidance, and resolve proposals and recommendations from businesses.

Focusing investment resources on building many infrastructure projects such as transportation, telecommunications services, clean water supply, wastewater treatment; training skilled human resources to serve businesses...

Besides, the special traditional relationship between Vinh Phuc and the two provinces of Chungcheongbuk and Gyeonggi of Korea is maintained and strengthened.

Every year, the province hosts dozens of business associations, enterprises, and investors from Korea to learn about the investment environment. The memorandum of understanding on cooperation between the two sides is regularly urged by the province to urge departments, branches, localities, and units to implement many signed agreements to expand and diversify markets, supply chains, and export products, creating conditions for Vinh Phuc enterprises to participate more deeply in the global production and supply chain.

In particular, the memorandum of understanding between the representative of the Department of Planning and Investment (now the Department of Finance) and the Vietnam - Korea Technology Consulting and Solutions Center (VITASK) on cooperation to support industrial enterprises supporting the automotive and electrical/electronics industries signed in 2021 has helped the province's enterprises have more opportunities to cooperate with Korean enterprises in improving technical capacity of materials and components, technology transfer, and specialized training for high-quality human resources...

Since the beginning of the year, Korean enterprises have been actively exploring investment opportunities in the province. By the end of the first quarter of 2025, the province had 234 FDI investment projects with a total registered capital of 3.1 billion USD, ranking 1st in terms of registered investment capital in the list of 20 regions/territories with investment projects in Vinh Phuc, typically projects of large corporations such as Patron Vina, Heasung Vina, Bangjoo, Cammsys, YoungPoong,...

Jahwa Vina Co., Ltd. is an enterprise manufacturing electronic components and equipment in Khai Quang Industrial Park (Vinh Yen). In 2024, the company's production and business activities continued to grow with revenue reaching nearly 160 million USD, creating jobs and stable income for 3,200 workers.

In addition to promoting production and business activities, the company is also a typical enterprise actively participating in social security activities in the province, especially through the Provincial Children's Support Fund to support the construction of more than 100 charity houses for children in special and difficult circumstances in the province. Thereby contributing significantly to the socio-economic development of the province.

Implementing the investment promotion program in 2025, in 2 days (March 31 and April 1), the provincial delegation led by Mr. Tran Duy Dong, Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee visited and worked with leaders of Chungcheongbuk and Gyeonggi provinces (Korea) to expand economic exchanges, friendly cooperation, promote the potential and advantages of the province, and directly invite businesses and investors.

During the visit, the delegation visited the production line and worked with leaders of several corporations and enterprises that are actively contributing to the growth of the province's industrial sector in particular and promoting the province's socio-economic development in general.

Continuing to maintain and affirm its position in attracting FDI enterprises in the region and the area, especially investors from Korea, the province focuses on removing difficulties and accelerating the progress of production and business investment projects (32 projects are expected to come into production and business operation in 2025), including many projects of Korean investors.

Urge to speed up the progress of compensation, site clearance and investment in infrastructure construction for industrial parks that have come into operation and newly established industrial parks. Continue to strongly improve the investment and business environment, enhance the provincial competitiveness index PCI.

Actively support and proactively invite capable and experienced investors to attract large projects, high-tech projects, advantageous industries such as electronics, telecommunications, software industry, artificial intelligence... to create momentum for the province's socio-economic growth in the new period.

Ngoc Lan

Source: http://baovinhphuc.com.vn/Multimedia/Images/Id/126508/Thu-hut-dau-tu-doanh-nghiep-Han-Quoc