Binh Duong (VNA) - A workshop on promoting investment from the Republic of Korea (RoK) inthe southern province of Binh Duong was held in the form of an online conferenceon November 20.

The workshop was jointly held by the provincial People’s Committee, the BecamexIDC Company, the Korea International Trade Association (KITA), and the business support centre in theRoK’s Gyoenggi-do region.

The RoK is the third-largest foreigninvestor in Binh Duong after Japan and China, with 756 projects and nearly 3.2 billionUSD in capital, accounting for nearly 5 percent of all investment from the countryin Vietnam.

In remarks delivered at the workshop, Nguyen ThanhTrung, deputy head of the Management Board of Industrial Parks in Binh Duong, gavedetailed instructions on procedures and land lease extensions.

He affirmed that Binh Duong always creates favourable conditions for foreign investorsand stressed that administrative procedures are handled promptly by local authorities.

RoK investors made proposals to the provincial People’s Committee relating tothe extension of land lease terms as well as support from local authorities in thisregard, especially in the context of COVID-19.

Vice Chairman of the provincial People’s CommitteeNguyen Thanh Truc said the locality will pay due regard to improving the investmentenvironment and local competitiveness and promoting support for investors in thelocality in general and the RoK’s business community in particular.

He affirmed that local authorities will also focus on reforming administrativeprocedures to ensure publicity, transparency, and simplicity, thus facilitatingthe operations of investors.

Attention will be also paid to developing high-quality services and infrastructurenetworks in transport, water supply, electricity, and environmental treatment, andexpanding industrial parks and training human resources to meet the requirementsof enterprises and the needs of industrial and urban development in the locality,he added.

In 2020, despite the difficulties posed by the COVID-19 pandemic, Binh Duong maintainedits stable economic growth, with gross regional domestic product (GRDP) estimatedto increase 6.78 percent and annual per capita GRDP to stand at 150 million VND(6,500 USD).

Inthe first ten months of 2020, more than 1.7 million USD in foreign investment waspoured into the province. It has attracted 3,913 foreign-invested projects intotal, with registered capital hitting 35.3 billion USD.

It is one of the three leading localities nationwide in attracting FDI, after HCMCity and Hanoi./.