The Republic of Korea (RoK) wishes to invest in building an industrial park for Korean firms with an area of 50 hectares and set up a service support centre for foreign enterprises to facilitate their operations.
|A branch of Korean Chamber of Commerce and Industry (KOCHAM) was launched in Long An province on March 8. (Photo: VNA)|
These proposals were revealed at a meeting between RoK businesses and the People’s Committee of Mekong Delta province of Long An on March 8.
The RoK firms said they want to receive assistance in applying for entry visas and residence permits for Korean experts and businesses when coming to Long An to work as well as support relating to tax finalisation and site clearance.
The proposals were welcomed by leaders of Long An province who requested relevant agencies to study and work with the Korean Chamber of Commerce and Industry (KOCHAM) in the locality regarding the matter.
A branch of KOCHAM was also launched at the meeting. It will act as a bridge connecting Korean businesses and local authorities in the production and business, helping strengthen the cooperation between Vietnamese and Korean firms.
According to Nguyen Van Duoc, Secretary of the provincial Party Committee, the launch of KOCHAM branch in Long An will enhance the collaboration between local administration and businesses who are investing or doing businesses in the locality, thus pushing up investment of Korean investors and export and import value.
The RoK is currently the second-largest foreign investor in Long An with a total registered capital of nearly 900 million USD.
South Korea is showing desire to work with the Vietnamese government to develop nuclear power production.
There were reports that Samsung had relocated two smartphone production lines of its business partners from Vietnam to the Republic of Korea (RoK) to ensure a smooth supply chain.