The Provincial People's Committee signed a memorandum of understanding on the urban growth partnership program with the Korea Land Corporation.

Friday, June 23, 2023 | 19:10:51

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On the morning of June 23, at the Presidential Palace (Hanoi), a memorandum of understanding on the urban growth partnership program was presented between the People's Committee of Thai Binh province and the Korea Land Corporation. Comrade Vo Van Thuong, Politburo member, President of the State and President of the Republic of Korea Yoon Suk-yeol witnessed this important cooperation. This event is part of a series of activities during the official state visit of the President of the Republic of Korea to Vietnam. Comrade Nguyen Khac Than, Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee attended the ceremony.

President Vo Van Thuong and President of the Republic of Korea Yoon Suk-yeol and leaders of ministries and branches witnessed the cooperation between the People's Committee of Thai Binh province and the Korea Land Corporation.

Video: 230623-_UBND_TINH_KET_HOP_TAC_HAN_QUOC.mp4?_t=1687528745

The Urban Growth Partnership Program aims to enhance exchanges and cooperation between the two countries in the field of public infrastructure such as new urban areas, industrial parks, housing, and transportation. Based on the introduction of the Korean Embassy in Vietnam and the development orientations of Thai Binh, the Provincial People's Committee proactively cooperates with the Korea Land Corporation to develop industrial parks and public infrastructure to meet the economic and urban development needs of the province in the coming time.

Comrade Nguyen Khac Than, Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee and Mr. Lee Han Joon, General Director of Korea Real Estate Corporation, exchanged the memorandum of cooperation.

Korea Land Corporation is a state-owned enterprise owned by the Korean Government. The real estate sectors that the Corporation develops include social housing, smart cities, industrial parks, new city development and urban regeneration. In Korea, the Corporation is investing in the development of 13 complex industrial parks with a scale of 3,345 hectares, with a total investment of 6,385 billion won, equivalent to 5.6 billion USD.

Sharing at the ceremony, the Deputy Secretary of the Provincial Party Committee and Chairman of the Provincial People's Committee emphasized: Thai Binh has advantages in land fund for industrial development, of which Thai Binh Economic Zone has an area of nearly 31,000 hectares. The province's transport infrastructure is being invested in a modern, synchronous and connected manner; the province is also developing many urban areas, planning to implement social housing projects. Currently, Thai Binh's urbanization rate is at 11%, lower than the average of the region and the whole country, so the signing of the memorandum of understanding with the Korea Land Corporation is consistent with the potential, needs and cooperation desires of the two sides, aiming to establish a leading model for sustainable development. Thai Binh expects that the successful cooperation program will form new smart urban areas, industrial parks and modern public infrastructure to proactively respond to urban issues that may arise in the process of socio-economic development of the province. In particular, this cooperation will promote investment attraction from Korea to Thai Binh, contributing to strengthening the good relationship between Vietnam and Korea and the harmonious interests of the two countries as well as bringing Thai Binh's socio-economic development to a strong breakthrough in the coming years.

Ha Thanh

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