Chairman of Yen Bai Provincial People's Committee Tran Huy Tuan and Mr. Mun Hyun - Chairman of the Happiness Development Foundation (Korea) signed a cooperation agreement in the fields of culture, art, economic exchange, tourism, and medicine...

In his opening speech at the conference, Chairman of the People's Committee of Yen Bai province, Tran Huy Tuan, stated: "Vietnam and South Korea are each other's top important partners in many fields. Among them, economic, trade, and investment cooperation serve as both pillars and driving forces for the bilateral relationship. With the desire for cooperation and development, Yen Bai always pays attention to and wishes to enhance economic cooperation and promote investment with Korean partners."

Introducing the potential strengths of Yen Bai province, the Chairman of the People's Committee emphasized: “With its favorable geographical location and abundant natural resources, especially, Yen Bai provincial development plan has been approved for the period 2021 - 2030, with a vision towards 2050. This plan serves as the most important legal basis for spatial arrangement, investment attraction, resource allocation, and implementation by various sectors and localities. These are crucial conditions and an opportune time for investors to come and invest and do business in the province”.

Mr. Tuan stated that the conference on the theme "Meet Korea 2023" was an opportunity for Korean businesses and investors to better understand the opportunities, potential, and advantages of Yen Bai Province; to understand the province's viewpoints, directions, and determination as well as their responsibilities when investing and doing business in Yen Bai.

At the same time, he hoped that with their practical experience, Korean businesses would actively contribute ideas for the province, proposing new breakthrough strategies, mechanisms, policies, and innovative solutions in areas of strength. This would serve as important reference material for the province to develop more effective and practical solutions, gradually overcome difficulties and obstacles, and create favorable conditions for Korean businesses and investors when investing and doing business in Yen Bai.

Furthermore, the conference dedicated a significant amount of time to exchanging and discussing the advantages, potential, and strengths of Yen Bai, analyzing investment opportunities, and policies to attract investors to Yen Bai. There were also opportunities for networking, connections, and sharing experiences in various fields.

Mr. Vu Van Chung, Deputy Director of the Foreign Investment Agency (Ministry of Planning and Investment), stated that Yen Bai still had many potentials for cooperation with Korean investors and was an attractive and potential investment destination. The Foreign Investment Agency of the Ministry of Planning and Investment committed to accompany Yen Bai province and Korean investors, ready to listen and absorb the opinions and proposals of local authorities and businesses to improve mechanisms, policies, and create the best conditions for investors.

Mr. Cha Sung Wook, Deputy Director-General of the Korea Trade-Investment Promotion Agency in Hanoi, stated: “In recent years, the economic cooperation between Vietnam and South Korea has continued to develop strongly despite the impact of the Covid-19 pandemic. After exploring the potential and strengths of Yen Bai, Mr. Cha Sung Wook hopes that Korean investors will invest in Vietnam in general and in Yen Bai in particular in various fields such as processing industries, new materials production, clean energy, electronic component manufacturing, traditional handicrafts, and healthcare services. The Korea Trade-Investment Promotion Agency in Hanoi will create conditions and actively support Korean businesses investing in Vietnam”.

Many Korean businesses highly appreciated the recent development of Yen Bai province, especially in terms of transportation infrastructure, which has shortened the distance between Yen Bai and major economic regions in Vietnam. At the same time, businesses highly valued the attention and support provided by the local authorities to investors.

Korean businesses hoped that Yen Bai would continue to identify its potential and strengths to focus on attracting foreign investment through investment promotion conferences and meetings with foreign enterprises. Yen Bai province needed to promote and share its image, potential, and advantages through various channels of information to allow foreign businesses to understand and become connected with Korean businesses in particular and businesses worldwide in general.

Many businesses appreciated the positive signals from the conference, which created opportunities for Korean, Hai Phong, and Yen Bai businesses to discuss economic cooperation and investment promotion. 

Mr. Ko Tea Yeon, Chairman of the Korean Business Association in Hai Phong, Director of HeeSung Electronics Company, stated, “I hope that Yen Bai province will study and implement policies to attract investment, reform administrative procedures, and support Korean businesses to invest in various sectors in the province. I hope that immediately after this conference, the Business Association and the agencies of both sides will have more cooperation, support, and assistance to effectively collaborate in the future".

In his closing speech at the conference, Mr. Tran Huy Tuan, Chairman of the People's Committee of Yen Bai province, emphasized that through the conference, Korean businesses and investors gained a better understanding of the opportunities and advantages of Yen Bai, as well as the province's viewpoint, determination, and their own responsibilities when investing and doing business in the province.

He acknowledged the proposals on strategies, mechanisms, policies, and solutions from investors to gradually overcome difficulties and create favorable conditions for Korean businesses and investors when investing and doing business in Yen Bai.

He requested departments and localities to consider and implement these suggestions and proposals, strengthen connections with domestic and foreign business associations to support and protect the legitimate rights and interests of businesses.

He expressed his hope that after the conference, both sides would have more meetings to further understand the specific concerns of businesses and establish cooperation through memoranda of understanding with the province. With the view that businesses are the main driving force for development, Yen Bai is committed to strong administrative reforms and creating a safe, transparent, and attractive investment environment.

Mr. Tran Huy Tuan expressed the confidence that the conference “Meet Korea 2023” in Yen Bai would open up a new and prosperous stage for the Vietnam-Korea strategic partnership and the cooperative development relationship between Yen Bai province and Korean agencies, organizations, and businesses.

During the conference, the sides agreed to sign agreements to enhance exchanges and share experiences in investment promotion and trade, exchange goods, and cooperate in production and business.

On the sidelines of the conference, Yen Bai province arranged an exhibition booth showcasing images of the people and the homeland of Yen Bai, as well as introducing typical local products and strengths of the province.