Dialogue with Korean enterprises - Dialogue with Korean enterprises - Website Ho Chi Minh City
“HCMC always accompanies, cares, supports and removes any difficulty for foreign enterprises, including Korean ones. The city sees the success of foreign investors as its own”.
It was confirmed by Deputy Secretary of HCMC Party’s Committee Tat Thanh Cang at the Dialogue on business support for Korean enterprises co-organized by Korean Chamber of Commerce and Industry (KCCI), KOCHAM and HCMC People’s Committee dated December 8 in HCMC.
According to Mr. Cang, HCMC has an important role as an economic-cultural-scientific center of the whole country in carrying out co-operation activities with Korea. Beside good political relation, economic co-operation between HCMC and Korea is on a good track. Till November 2015, Korea is the 4th biggest foreign investor in HCMC with 1,152 projects with total capital of US$3, 9 billion. In November alone, Korea has 113 new registered project valued at US$270, 57 million. Two way trade reached nearly US$ 2, 7. There are now nearly 80.000 Korean people working and living in HCMC together with a large number of Korean businesses doing good business, these contribute to the development of HCMC.
Highly valued the role and significance of the dialogue, Mr. Cang said ideas collected at the open and frank dialogue would partly remove difficulties and barriers for Korean businesses in their investment and trading activities in HCMC. In this respective, the Vietnam-Korea co-operation relation in general and Korea-HCMC in particular will be further strengthened and deepen in the future.
Mr. Lee Dong Geun, Deputy Chairman of KCCI stressed Vietnam attracts the largest number of Korean investors in ASEAN region with over 4000 Korean enterprises. Two way trade between Vietnam and Korea surpasses US$30 billion, a 60 fold increase compared to the time when both sides established diplomatic relation. In HCMC alone, there are now 2,400 Korean enterprises doing business in fields of apparel, electronics, steel, finance, construction, etc.
Mr. Lee Dong Geun added Korean enterprises are now paying special attention to investment co-operation in HCMC, they are considering HCMC as an ideal destination with huge co-operation potentials.
In the framework of the dialogue, Korean enterprises have been provided with updated information on new policies, detailed and clear solutions from authority of HCMC on administrative and legal barriers, difficulties in the process of trading and production.