Ambassador Extraordinary and Plenipotentiary of the Republic of Korea to Vietnam Pak Noh-wan and the Korean business delegation paid a working visit to Phu Tho province (photo taken in November 2020).

PTO - That is the comment of Mr. Park Noh-wan - Ambassador Extraordinary and Plenipotentiary of the Republic of Korea to Vietnam on his working visit in November 2020.

On December 22th, 1992, Vietnam and RoK officially established diplomatic relations. Over the past 30 years, the bilateral cooperation relationship between Vietnam and RoK has been continuously promoted, raised to the level of a strategic partnership, created a basis for external activities, economic, cultural and educational cooperation, etc. and people-to-people exchanges and between localities of the two countries for expansion and development.

Phu Tho is increasingly becoming a close, safe and attractive destination for Korean businesses. Besides, the cooperation relationship between the two localities of Phu Tho and Hwaseong has been implemented with many exchange activities and experiences exchange in the fields of culture, education, sports and economy.

With many strategic decisions in investment attraction from provincial leaders, over the past years, Phu Tho has created all the most favorable conditions for businesses, especially Korean ones when investing in the province. Rok is currently the leading country in the number of foreign-invested projects in the province with a total registered capital of about USD1,000 million. Rok is also the country providing a valuable source of ODA to Phu Tho.

In the working sessions between Mr. Bui Van Quang - Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee and Director of Korea International Cooperation Agency (KOICA) Representative Office in Vietnam in July 2019, President of Korean Chamber of Commerce and Industry (KOCHAM) in August 2020, Mr. Park Noh-wan - Ambassador Extraordinary and Plenipotentiary of the Republic of Korea to Vietnam in November 2020, Chairman Quang invited Korean businesses to survey and explore investment opportunities in Phu Tho in all fields, giving priority to the field of agricultural product processing and storage, tea tree product processing; continuing to research and sponsor a number of projects in the area; calling on Korean NGOs to survey aid needs in the province; introducing cooperation programs in education, human resource training, scholarship, cultural exchange between localities of Korea and Phu Tho.

Chairman Quang has affirmed: Phu Tho provincial government always listens to the opinions of the business community, removing difficulties and creating the best conditions to support Korean investors in their operations and business in the province.

Namuga Phutho Technology Co., Ltd is a typical Korean enterprise in Phu Tho (photo taken in November 2020).

Phu Tho currently has 136 projects of Korean investors (accounting for 76% of the total 179 FDI projects). Korean businesses have made important contributions to the province's socio-economic development, especially creating jobs for local workers.

Besides, these Korean enterprises have had many activities to contribute to social security work in the province. In the period of 2015-2020, Phu Tho has received 22 turns of Korean NGOs and donors with 57 aid programs and projects with a total value of over USD2.7 million.

In addition, the cooperation relationship between Phu Tho and Hwaseong city, established since 2005, has got more substantive cooperation activities. After signing the MoU, the two sides exchanged, built and developed cooperation in the fields of culture, sports, education, training, economy and trade. In August 2019, as part of a series of Vietnam – Korea Youth Exchange Program, 20 youth delegates of Ministry of Gender Equality & Family Republic of Korea visited and exchanged with Phu Tho youth union members.

In the trend of deepening integration and cooperation, along with the development of the strategic partnership between Vietnam and the RoK, with the tradition of friendship and cooperation between Phu Tho and its Korea partners, the authorities, people and enterprises of the two sides would actively implement exchange and cooperation activities and especially economic and trade cooperation activities, contributing to promoting the socio-economic development of Phu Tho province.

With these positive results of Korean investors in the province over the past years and the commitment of the provincial government, Phu Tho has become increasingly a safe and attractive destination for Koreans to do business, live and study.