Hanoi vows to support RoK firms’ long-term investments

Hanoi is willing to create favourable conditions, especially in administrative procedures, for businesses from the Republic of Korea (RoK) to make long-term investments in the city.

Chairman of Hanoi People's Committee Nguyen Duc Chung (R) received Korcham President Ryu Hang Ha on March 14 (Photo: hanoitimes.com.vn)

Chairman of the municipal People’s Committee Nguyen Duc Chung made the promise at a meeting with Ryu Hang Ha, Chairman of the Korea Chamber of Business in Vietnam (KORCHAM) in Hanoi on March 14.

At the meeting, Ryu Hang Ha expressed his desire to build a KORCHAM office in Hanoi to attract more long-term investments from the RoK, becoming a bridge between the two sides’ enterprises while strengthening ties between Vietnam and the RoK.

Chung applauded KORCHAM’s plan, pledging that the city will offer incentives to facilitate RoK firms’ operations in Hanoi.

He suggested KORCHAM support the RoK Embassy in Vietnam to hold cultural exchange events which are scheduled to take place from April 8-9 near the Ly Thai To monument.

Chung also asked KORCHAM to hold an investment promotion conference between Hanoi and the RoK and coordinate with agencies to organise cultural exchanges to celebrate the 25th anniversary of Vietnam-RoK diplomatic relations.

According to the KORCHAM chairman, there are about 5,700 Korean enterprises in Vietnam with total capital of USD 50 billion, of which 1,130 firms are in Hanoi.

As a representative of RoK enterprises in Vietnam, KORCHAM has become a consultancy centre, connecting RoK firms with the Vietnamese government and helping these businesses operate effectively in the city.

Source:VNA

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