Long An Province continues to Promote Korean Investment, Strengthen International Ties, and aim for a Green Economy and sustainable development

DNHN - In the face of globalization and the growing demand for sustainable practices, Long An Province is proactively seeking foreign investment, particularly from South Korea, a key strategic partner for both Vietnam and Long An Province.

The delegation, led by Mr. Nguyen Van Duoc, Provincial Party Secretary and Chairman of the Provincial People's Council, is conducting a multi-day visit to South Korea from October 13 to 16, 2024. The delegation comprises leaders from various government departments, localities, seaport enterprises, and industrial park authorities. This visit is a key component of Long An Province's 2024 Investment Promotion Program.

This strategic engagement aims to showcase Long An Province's potential and development trajectory, positioning the province as a prime destination for South Korean investors. Long An Province is committed to connecting its industrial parks with prominent investors across diverse sectors, with a particular focus on high-tech agriculture, technology, renewable energy, and logistics. This initiative underscores the province's dedication to building a robust and sustainable economy.

On October 14, the first day of their visit to South Korea, the delegation met with former President Lee Myung-bak in Seoul. Both sides exchanged information on investment activities of Korean organizations and businesses in Long An Province over recent years and explored potential opportunities for future cooperation to enhance investment in Long An Province.

Former President Lee Myung-bak emphasized the importance of applying green and circular economy models. Both sides agreed that sustainable development and environmental protection are crucial factors in all upcoming cooperation strategies. Furthermore, former President Lee Myung-bak shared some of Korea's experiences in developing green infrastructure, praised Long An Province's dynamism, and encouraged the province to study and apply these experiences in practice.

Speaking at the meeting, Mr. Nguyen Van Duoc, Secretary of the Provincial Party Committee and Chairman of the Provincial People's Council of Long An Province, said that South Korea is one of their important strategic partners, playing a major role in the economic development of the province. As such, Long An Province constantly strives to create a favorable investment environment and support foreign businesses, especially those from South Korea.

Mr. Nguyen Van Duoc conveyed his hope that all levels and sectors of the province would continue to make efforts to effectively capitalize on  opportunities arising from global supply chain integration and green development trends to maintain traditional markets and partners such as South Korea. He also emphasized the importance of proactively learning from the investment trends of multinational corporations, businesses, and large corporations in Korea to attract and connect investment in industries where the  province holds advantages. Moreover, he extends his invitation to invest in Long An Province and reap mutually beneficial results.

Currently, South Korea ranks as the third-largest contributor to more than US$12.3 billion total foreign investments in Long An Province,  establishing its role as a strategically important partner in the province’s investment promotion activities as well as in  strengthening bilateral relations.

During the meeting, Mr. Nguyen Van Duoc extended an invitation to former President Lee Myung-bak to be the guest of honor at The 2nd Long An Culture, Sports, and Tourism Week and the Long An - Korea Exchange Program 2024. Scheduled from November 28th to December 4th, 2024 in Long An Province, these events aim to showcase the province’s culture while further strengthening the cooperative ties between Long An Province and South Korea.

The meeting with former President Lee Myung-bak concluded with positive outcomes and high expectations for strengthened collaboration between Long An Province and South Korea. The delegation's upcoming itinerary includes meetings and project surveys with major Korean corporations in the fields of urban infrastructure development, commerce, services, energy, and logistics.

Long An Province proactively engages with prominent organizations and investors in South Korea and other countries, as aligned with the province's investment attraction strategy. This approach aims to identify opportunities, foster cooperation, attract investment, and drive economic growth in Long An Province.

With its strategic location, rapid urbanization, robust infrastructure development, and a second-place ranking in the 2023 Provincial Competitiveness Index (PCI) in Vietnam, Long An Province has become an ideal destination for logistics and supply chain development. Amidst the province's focus on inter-regional transport infrastructure development, Long An International Port is emerging as a driving force behind the establishment of a large-scale Mekong Delta Logistics Center within the province.

Phuoc Lap