According to the city’s investment promotion plan of 2022, on the afternoon of August 10, 2022, Hai Phong Economic Zone Authority (HEZA) held an investment promotion meeting with Korean supportive enterprises of LG Group. The meeting aimed to exchange with enterprises and inform them of the current development of the city in economic and social terms as well as to enhance investment promotion and calling high-quality projects from foreign investors in general and Korean ones in particular into industrial parks and economic zones of the city.
Attending the meeting were leadership representatives of Foreign Affairs Department, Trang Due Industrial Park, LG Display Vietnam Hai Phong Company, related units, and Korean supportive enterprises of LG Group and other Korean enterprises. Attending the meeting, from Vietnam’s enterprises, there was Mrs. Nguyen Thi Thu Huong, Director General of Kinh Bac Urban Development Company cum Vice President of Sai Gon – Hai Phong Industrial Park Joint Stock Company.
Delivering a welcome speech at the meeting, Mr. Le Trung Kien, Head of the City Economic Zone Authority, introduced advantages, investment potential and incentives to foreign investors when they decide to choose Hai Phong City as their destination for manufacturing and business operation. Indeed, Mr. Le Trung Kien applauded remarkable numbers of Korean investment in the city reflected in 173 projects with a capital of about 9.65 billion USD that has made a significant contribution to development of manufacturing and industrial field, facilitating more jobs to local and neighboring employing forces. For instance, supportive companies of the LG Group, including LGE, LGD, and LG Innotek have created more than 40,000 jobs, which is equivalent to more than 50% work force in the city, accounting for 25% of the City’s economic and social development.
After representation of Trang Due Industrial Park, Mr. Le Trung Kien chaired the Q & A session, where he gave answers to all investors’ questions regarding to their project running and/or manufacturing and business in Hai Phong City. Leaders of HEZA also showed their commitment in supporting Korean enterprises during their process in projects investment in Haiphong, from the initial stage of applying for investment certificate to going into operation.
A model of R&D (Research and Development) has been launched to attract more interest from the LG Group and the city’s willingness to work with the LG Group to facilitate implementation. Previous facts handling impacts of COVID-19 in the city’s areas have proved cooperative attitude and willingness of the city in working with foreign partners in order to minimize negative impacts caused by the pandemic COVID-19 in industrial parks and economic zone in the city. In addition, a number of advantages such as Vietnam – Korea mutual recognition of social insurance or opening direct flights between Hai Phong and Incheon Metropolitan (Korea) have shown goodwill of Hai Phong City in cooperation with Korean partners. Currently, the city has been implementing plans and policies to encourage Korean investors and expertise to live and work with their families in the city, well prepare high-qualified human resource to meet the expectation of Korean investors when they decide to invest in Hai Phong City.