Binh Duong – Binh Duong Province Engages in Constructive Dialogue with Korean Businesses

Binh Duong – In a significant move to address the concerns of foreign investors, the People’s Committee of Binh Duong province in southern Vietnam held a dialogue with representatives of Korean businesses on November 17. The event saw the participation of key figures including Nguyen Van Loi, Secretary of the provincial Party Committee, Shin Choong Il, the Consul General of the Republic of Korea (RoK) in Ho Chi Minh City, and Kim Jin Woo, Chairman of the RoK Business Association in Binh Duong.

According to Vietnam News Agency, the dialogue focused on various issues raised by Korean businesses operating in the province. These included concerns about the power supply for production, tax refund procedures, customs, environmental inspection, fire prevention, fighting, and construction permits. The representatives also highlighted difficulties caused by certain administrative procedures, such as immigration processes and direct fee payments. Representatives from provincial departments and agencies addressed these concerns, clarifying and offering solutions.

Nguyen Van Loi expressed gratitude to Korean businesses for their substantial contribution to Binh Duong’s economic development. He emphasized that such dialogues are crucial for building mutual understanding and trust between provincial leaders and investors, which is essential for resolving issues and supporting business operations. He also directed the provincial People’s Committee and relevant departments to provide more guidance and support to businesses for completing legal procedures and resolving pending issues.

Binh Duong province has been successful in attracting foreign investment, with nearly 1.35 billion USD invested in various new and ongoing projects in the first 10 months of this year. As of October 2023, the province has attracted 4,192 valid investment projects from 65 countries and territories, totaling over 40 billion USD in registered capital. Notably, the RoK stands as the second-largest foreign investor in the province, with 769 projects and a total investment capital of 3.3 billion USD.