Hanoi opens wide doors for South Korean investors: City Party chief

Hanoi welcomes South Korean investors doing business in the city, according to Secretary of the Hanoi Party Committee Vuong Dinh Hue.

Hanoi welcomes South Korean investors coming to Vietnam. Photo: Thanh Hai.

Vietnam in general, and Hanoi in particular, would gradually reallow entry of foreign nationals, especially those from countries that have effectively contained the Covid-19 pandemic such as South Korea, Hue said in a meeting with South Korean Ambassador to Vietnam Park Noh-wan and Head Coach of Vietnam’s national football team Park Hang-seo.

Hue said Hanoi is accelerating disbursement of public investment funds, aiming to create positive spillover effects to other economic activities.

Hue added the city is determined to pursue a dual target of containing the pandemic and boosting economic recovery. For this year, the city expects to reach an economic growth rate 1.3 times higher than the national average.

According to Hue, the growing strategic partnership between South Korea and Vietnam has laid a foundation for strong relations between Hanoi and Seoul, as well as other South Korean cities.

Hue attributed the city’s success in containing the pandemic to positive responses from the local community, including South Korean citizens living in Vietnam.

Hanoi's Party chief invited South Korean Ambassador Park and enterprises to attend the city’s investment promotion conference, scheduled to take place by the end of June.

Secretary of Hanoi Party Committee Vuong Dinh Hue (r) and South Korean Ambassador to Vietnam Park Noh-wan (l). Photo: Thanh Hai.

At the meeting, Park thanked Hanoi’s leaders in ensuring the safety of South Koreans and smooth operation of South Korean enterprises in Hanoi.

While a number of South Korean students and diplomatic officials have not been able to enter Vietnam, Park said he hoped Hanoi’s authorities would create favorable conditions for South Koreans during their 14-day mandatory quarantine following the upcoming flight from Incheon to Hanoi in early June.

Park highly regarded Hanoi’s support for Korean International School in the capital city to add new buildings to its premises. The ambassador also suggested the authorities to approve the school’s proposal for the construction of another campus to accommodate more South Korean children, which came as a direct result of growing investment activities from Samsung and LG in Vietnam.

Park expected Hanoi to continue calling for investments in large-scale projects, particularly in smart city, commenting this could open a new field of cooperation between South Korea and Hanoi.

For his part, Hue said Hanoi would create favorable conditions for welcoming and quarantining South Koreans upon entering Vietnam.

Hue stressed Hanoi is supportive of South Koreans and expects them to become "ambassadors" to promote peace and friendship between the two countries.

A speedy resumption of economic activities between the two countries would benefit all parties involved and contribute to the overall development of the region and the world, Hue concluded.