Vinh City 'attracts' Korean and Japanese investors

(Baonghean) - Vinh City is becoming a 'magnet' attracting Japanese and Korean investors to Nghe An.

Strong Korean Cooperation

A typical example of the above cooperation is the relationship between Vinh city and Namiagiu city, Gyeonggy province (Korea). The two cities officially signed a cooperation agreement on November 15, 2005 in the fields of economy, culture, education, training, administration, arts, youth, etc. Since then, the relationship has always been maintained and developed and increasingly nurtured in a practical and effective manner.

Construction of Namiagiu road invested by Korea in Vinh city.

Over the past 11 years, the two cities’ authorities have tried to maintain cooperative relations, promote information exchange activities, learn from experiences, grasp current events and spend time promoting investment activities to develop the people’s economy. The diversity in the fields of cooperation demonstrates the efforts of all parties and the frequent visits and working sessions from the Korean side show that the neighboring province has great interest in Vinh city.

Mr. Nguyen Hoai An - Chairman of Vinh City People's Committee said: "Vinh City has organized 20 delegations to visit, work and learn from experiences, of which 14 are high-ranking city leaders, led by the Secretary, Chairman of the City People's Council, Chairman of the City People's Committee, etc. The Youth Union includes 5 delegations including officials in charge and outstanding young people of the city. Namiagiu City has also organized 27 delegations to visit and work in Vinh City, including high-ranking leaders of Namiagiu City, business delegations, and cultural and artistic delegations.

Korean restaurant in Vinh

As a country with strengths in the fields of art, culture, youth, your province is very interested in this field in Vinh city and has many effective connections in the city. The two sides organized many cultural and culinary exchange activities, customs and practices, reading culture... One of the activities that left an impression on the other side was the sponsorship of the Vinh Scholarship Association in Namiagiu city and the International Rotary Club, which awarded scholarships to many students at Vinh University, Vietnam - Korea Industrial Technical Vocational College and poor students overcoming difficulties at primary schools in Vinh city with the amount of 32,000 USD. Sponsored cleft palate surgery for children in Nghe An with the amount of 17,600 USD, sponsored equipment for physical education teachers of Vietnam - Korea Industrial Technical Vocational College with 7,800 USD, and awarded bicycles in many batches with 448 bicycles worth 43,500 USD.

In the economic field, cooperation with Korea is more practical when the Gyeonggye Province Chamber of Commerce and Industry is surveying the 3rd floor of Vinh market to make a display area to introduce and sell genuine Korean products. Enterprises under the Gyeonggye Province Chamber of Commerce and Industry have also exchanged and purchased products from enterprises in Vinh such as: door locks, construction materials, water filters from Hung Phat enterprises, Hoa Thuong private enterprises. In the city, there are also quite a few Korean supermarkets and stores owned by Vietnamese people, many of whom have returned to invest after working in Korea.

In 2016, Namiagiu city invested in building Namiagiu road in Vinh city and sponsored the investment for this road. The road has a total investment of nearly 20 billion VND and is currently under active construction.

The province also hopes to invest in a hotel and hand it over to Vinh city for management. The profits will be used as scholarships for students in the city.

Export elevator components to Korea.

New prospects in cooperation with Japan

Vinh city is also twinned with Kasumigaura city (Ibaraki province - Japan), since then the Japanese side has visited Vinh city many times, surveyed investment and had initial projects. Typically, the high-tech electrolytic water plant in Nghi Phu (Vinh city) phase 1 with 3.2 billion VND has been accepted by the market of big cities. The unit is doing the procedures for announcement, ordering bottle samples, and brands. After successful market research, it is expected to invest in phase 2 with a larger factory.

Vinh City and Kasumigaura City (Japan) have signed a memorandum of understanding on implementing a cooperation project to support sustainable agricultural production, apply high technology in Japanese agriculture and most recently signed a preliminary agreement on investing in a waste treatment plant using biotechnology in Nghi Yen commune (Nghi Loc) for Vinh City.

Mr. Nguyen Tam Quang, representative of Japanese investors, added more about the project: “In response to the call for investment from Nghe An province and Vinh city, Japan is currently planning to invest in a waste processing plant in Nghi Yen commune, with a total investment of 30 million USD, equivalent to 600 billion VND, with a processing capacity of 300 - 350 tons/day. The treatment technology uses microorganisms and does not require source classification, in a vacuum environment. This is a new technology that many countries are applying. It is expected that after completing the procedures, the investment will be made within 1 year...”.

Vinh City is growing strongly and there are still many investment opportunities, especially in the fields of environment, social security, and tourism.

Chau Lan