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Sep 14, 2022 / 13:01

Hanoi pledges favorable conditions for South Korean investors

Auxiliary and high-tech companies from South Korea eye to establish their operations in Hanoi as the city is considered one of the most potential markets.

Hanoi is willing to facilitate foreign companies, including South Korean firms, with favorable conditions to invest and operate in the city, Tran Sy Thanh, Chairman of the Hanoi People’s Committee, said on September 13.

“Hanoi always eyes the development of auxiliary and high-tech industries, as well as the attraction of high-quality human resources,” Thanh said at a meeting with Kim Jung In, Chairman cum CEO of SEIN I&D Vietnam in Hanoi.

 Chairman of Hanoi People's Committee Tran Sy Thanh, right, and Chairman cum CEO of SEIN I&D Vietnam Kim Jung In. Photos: Cam Anh

The city applauded the companies’ investment in auxiliary and high-tech industries of Vietnam, he said, hoping the companies will achieve outstanding results in production and business.

"Hanoi will find solutions to provide good conditions for South Korean firms and the city will try to address any issues in compliance with existing laws," Thanh said.

In return, Chairman cum CEO of SEIN I&D Vietnam Kim Jung In appreciated the support of Hanoi's authorities for South Korean companies.

Hanoi is one of the most potential markets for semiconductor production according to a plan for the development of satellite towns, Kim said.

As a semiconductor manufacturer, SEIN I&D Vietnam hopes the city would facilitate the company with preferential policies on investment and high-quality labor so that the Korean firm can develop its microchip manufacturing plant, he added.

To foster the auxiliary industry, SEIN I&D will introduce potential investors from South Korea to Hanoi, he said.

On the same day, Thanh met executives of THT Development Co. Ltd. and Daewoo E&C Vietnam Co. Ltd.

An Kuk Jin, Chairman of THT Development, said the company appreciates the authorities of Hanoi for their support in the implementation of recent urban development projects.

 Chairman of Hanoi People's Committee Tran Sy Thanh presented a picture of Hanoi's Guom Lake to An Kuk Jin - Chairman of THT Development Development Co. Ltd.

The company expects to make further investments in local projects, thus helping socioeconomic development and improving people's living conditions, he said.

Thanh said local authorities are making adjustments to the construction and development plan of the city until 2030 with a vision of 2050, in which the scope of urban development projects is clearly identified.

"The real estate companies should have a better approach and the property projects must be commensurate with the stature of the city and its cultural values," Thanh said.