Recently, at the meeting with subcontractors of HD Hyundai Mipo Company (Korea), representatives of more than 60 supporting industry enterprises from Korea wished to find investment cooperation opportunities in Khanh Hoa. Thereby, creating a strong enough ecosystem for shipbuilding industry and related fields in the region.
Creating opportunities for investors
2025 is the year Khanh Hoa province accelerates, breaks through, strives to complete and achieve the highest results of the goals and targets for socio-economic development in the 5-year period of 2021 - 2025 and Resolution No. 09 of the Politburo on building and developing Khanh Hoa province to 2030, with a vision to 2045; creating a solid foundation for Khanh Hoa province to enter the decade of raising its development level, striving to be in the top 15 provinces and cities with the highest per capita income by 2030, with continuous economic growth reaching 10% or more. To achieve the target of double-digit growth, the province is strongly promoting cooperation in developing green economy, digital economy, green transformation, circular economy, low carbon emissions, resource saving, sustainable development to create green, environmentally friendly products that are competitive enough to participate deeply in global value chains.
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| Provincial leaders took souvenir photos with Korean businesses. |
In particular, Khanh Hoa has many mechanisms and policies to attract strategic investors to invest in the fields of innovation, information technology, high technology, urban areas, biotechnology, marine pharmaceuticals, clean energy industry, high-quality healthcare services, logistics, etc. Therefore, this is the best opportunity for Korean investors to take full advantage of policies when deciding to invest in specific projects in the province.
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| HD Hyundai Vietnam Shipbuilding Factory is a symbol of successful investment of Korean enterprises in Khanh Hoa. |
Through the meeting with subcontractors of HD Hyundai Mipo Company, representatives of provincial departments and branches introduced to Korean enterprises an overview of the province's potential and strengths; the province's investment attraction orientation in general, the development orientation of Van Phong Economic Zone in particular; investment policies and financial services, investment support from banks. Leaders of departments, branches and enterprises of Khanh Hoa province and Korea also discussed a number of contents such as: List of specific projects invested in Van Phong Economic Zone; land rental prices for investment in Van Phong Economic Zone; ability to meet the demand for human resources in the mechanical and shipbuilding sectors in Khanh Hoa; bank lending interest rates for investors, etc.
Mr. Chau Ngo Anh Nhan - Director of the Department of Finance said that currently, the province is implementing strategies, planning, and investment plans synchronously, consistently, and ensuring uniformity and interconnectivity towards the goal of becoming a centrally-run city by 2030. The province has developed and specified preferential policies to serve the work of attracting investment as well as production and business activities of enterprises. Issues of interest to Korean enterprises will also be supported under the direction of the Steering Committee for Investment Promotion and Enterprise Support headed by the Chairman of the Provincial People's Committee.
Important Partner
At the conference, Comrade Nguyen Tan Tuan - Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee, Secretary of the Provincial Party Committee affirmed that Khanh Hoa always considers Korean partners as strategic investors. In recent years, the province has actively implemented investment attraction policies, creating the most favorable conditions for business development. During a working trip to Korea in late September 2024, the province successfully organized an investment promotion conference in Seoul City, attracting the participation of more than 150 local businesses. At the same time, the province also worked directly with large Korean corporations and signed a Memorandum of Understanding with the Ulsan City government to strengthen cooperation in many fields. These activities aim to call for investment in infrastructure projects, high-tech industry, green economy, digital economy, circular economy, as well as the fields of biotechnology, pharmaceuticals and logistics, opening up many opportunities for economic and technological development in Khanh Hoa.
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| Chairman of the Provincial People's Committee Nguyen Tan Tuan inspected production activities at Komega-X Company Limited. |
Korean enterprises also consider Khanh Hoa an ideal place for investment, with preferential policies as well as favorable conditions for transport infrastructure. According to Mr. Ji Young Man - Chairman of the Hyeon-mi Subcontractors Association (Korea), Khanh Hoa with its deep-water seaport system, convenient road and air connections is suitable for machinery manufacturing, mechanical engineering and shipbuilding support enterprises to set up factories. If invested, this is truly an ideal place to create a strong ecosystem for the development of the shipbuilding industry. More than 60 subcontractors of HD Hyundai Mipo when coming to Nha Trang to attend the conference are all enterprises that are truly interested and determined to find investment opportunities in Khanh Hoa.
South Korea is one of the important economic partners of Khanh Hoa, with 27 FDI projects, total registered capital of over 290 million USD, mainly focusing on the shipbuilding industry. In terms of trade, South Korea is the 9th largest export market of the province with an export turnover of 67.1 million USD, accounting for 3.28%, the main export items are seafood, machinery, equipment and spare parts, coffee, textiles, etc. In addition, the number of Korean tourists to Khanh Hoa is increasing rapidly, opening up many opportunities for cooperation in the fields of tourism, trade and high-quality services.
Mr. Kim Hyung Kwan - General Director of HD Hyundai Mipo Company said that HD Hyundai Vietnam Shipbuilding Co., Ltd. (a subsidiary of HD Hyundai Mipo Company) has been headquartered in Van Phong Economic Zone for nearly 30 years. The success of HD Hyundai Vietnam Shipbuilding Co., Ltd. today is thanks to the active cooperation and continuous investment of Khanh Hoa province. Industrial infrastructure such as electricity, telecommunications, roads, and seaports have been built very well, greatly supporting the development of the company. This is the condition for HD Hyundai Vietnam to become the largest shipyard in Vietnam and Southeast Asia. The company is growing, building trust from ship owners around the world by ensuring the quality and progress of ship delivery. "Hopefully, the meeting with subcontractors of HD Hyundai Mipo Company will be an opportunity to further strengthen the economic development cooperation and mutual trust between Vietnam and Korea; Korean enterprises also find reliable partners to cooperate and invest in Khanh Hoa" - Mr. Kim Hyung Kwan emphasized.
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| Komega-X Co., Ltd. (Korea) in Suoi Dau Industrial Park. |
In order to create favorable conditions for businesses to invest in Khanh Hoa, Chairman of the Provincial People's Committee Nguyen Tan Tuan pledged that Khanh Hoa will provide the best support for investors and businesses in the process of implementing projects and doing business in the province. The issues raised by the Korean business community at the conference are the basis for Khanh Hoa to continue to strongly improve the investment and business environment. The Provincial People's Committee also urgently speeds up the planning and completion of strategic transport infrastructure such as the Van Phong - Nha Trang expressway, the Khanh Hoa - Buon Ma Thuot expressway to increase connectivity and attract investment; continue to effectively implement cooperation activities according to the Memorandum of Understanding signed between Khanh Hoa and Ulsan City in the period of 2025 - 2026 to attract leading Korean industrial enterprises to invest in the province.
DINH LAM
Source: https://baokhanhhoa.vn/kinh-te/202503/thuc-day-hop-tacdau-tu-voi-doanh-nghiep-han-quoc-4917419/
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