Tay Ninh province promotes economic cooperation with Busan city

On September 19th , the delegation attending the Local Promotion Programme chaired by the Vietnamese Ministry of Foreign Affairs visited and worked with the Busan Chamber of Commerce and Industry.

The visit opens up an important opportunity for localities and business communities of the two countries to enhance exchanges, promote substantive cooperation, and at the same time introduce potentials and advantages as well as demonstrate Tay Ninh province's strong commitment to accompany South Korean partners, towards sustainable development and common prosperity.

At the reception, Mr. Jung Hyun Min - Executive Vice President of Busan Chamber of Commerce and Industry highly appreciated the cooperation between Vietnam and South Korea in recent times, and expressed his desire to continue to strengthen cooperation based on the strengths of each locality, especially in the fields of logistics, automobile manufacturing, electronic components and supporting industries, thereby contributing to the development of Vietnam's key industries.

Speaking at the meeting, Vice Chairman of the Tay Ninh Provincial People's Committee Huynh Van Son said that the province has achieved many outstanding results in cooperation with South Korean localities. Tay Ninh signed memorandums of understanding on economic, cultural and social development with Chungcheongnam Province; Gimhae City (Gyeongsangnam Province); Chungju City (Chungcheongbuk Province) and Yangsan City (Gyeongsangnam Province).

Among more than 40 countries and territories investing in Tay Ninh, South Korea currently ranks second in the number of projects, with a total registered capital of over 2 billion USD. He emphasized that Korean enterprises have become reliable partners, accompanying the province's development, making important contributions to export growth, creating a trade surplus and promoting sustainable socio-economic development.

Besides, to create a foundation for industrial development, the province is focusing investment resources on building a synchronous infrastructure system, especially inter-provincial and inter-regional transport infrastructure.

Expressways, beltways and dynamic axes are gradually being formed to connect industrial parks, industrial clusters, logistics centers with international seaports and key border gates; at the same time, expanding the connection between the Mekong Delta, the Southeast region and Ho Chi Minh City, forming corridors for industrial, urban, commercial and service development.

This is an important premise for the province to welcome a wave of higher quality investment from other countries, especially from South Korean investors - potential and experienced partners, contributing to making Tay Ninh an attractive destination, affirming its position as a center connecting production and trade in the region.

On the same afternoon, the delegation visited and worked with Mr. Lee Jun-Seung - Deputy Mayor of Busan City, the second largest urban and maritime economic center of South Korea. This was an opportunity for localities, organizations and businesses of both sides to exchange, share information and seek practical cooperation opportunities.

The Deputy Mayor and Head of Busan International Cooperation Department welcomed the delegation and highly appreciated the cooperation potential between three Vietnamese localities including Tay Ninh, Quang Tri, Nghe An with Busan.

This connection took place just over a month after General Secretary To Lam's official visit to South Korea as the first state guest of President Lee Jaemyung, showing that the Vietnam-South Korea relationship is at its best stage of development, opening up many new directions for cooperation.

Busan city leaders assessed that the three localities all possess strategic locations and their own development resources, aiming to become important industrial, logistics, service and tourism centers in the region. Among them, Tay Ninh is considered an attractive destination for South Korean enterprises, currently attracting 276 projects with a total registered capital of over 2 billion USD, showing the province's strong attraction and cooperation potential in the fields of industry, logistics and trade services.

Through the working session between Vietnamese localities and Busan city government, the two sides exchanged visions, shared strengths and formed cooperation ideas, creating conditions for businesses of the two countries to expand investment and trade in a practical and effective manner, contributing to concretizing the action program to implement the comprehensive strategic partnership between Vietnam and South Korea./.

By Thanh Phong - Translated by Lien Thanh