Korea scouts for investment opportunities in Can Tho

South Korea’s businesses seek opportunities for investment in the healthcare and construction sectors. - Photo baocongthuong.com.vn

Haeseung Shin, director of Korea’s Gumi Gangdong Hospital, who is leading the delegation on this investment promotion trip, said Can Tho is among their six destinations, the others being Ha Noi, HCM City, Thai Nguyen, Bac Ninh and Soc Trang provinces.

The delegation had meetings with the Can Tho municipal People’s Committee and People’s Council, Can Tho General Hospital, Hoan My Cuu Long Hospital, and some construction companies, to understand local mechanisms and policies on foreign investment, especially in these two fields, Shin said.

He expressed hope that the city would support Korean businesses in building medical equipment factories, and distributing medical equipment and materials. Shin added that they are also looking to invest in construction, building materials supply, and construction consultancy and supervision.

Truong Quang Hoai Nam, vice-chairman of the municipal People’s Committee, said Korea ranks first among foreign investors in Can Tho City. To create an optimal investment climate for foreign firms, aside from administrative procedure reforms, Can Tho has also paid attention to upgrading both its hard and soft infrastructure, focused towards large healthcare and education projects, Nam said.

In the first half of 2017, the city sent many investment promotion delegations to step up cooperation with Korea in smart city building, hi-tech agriculture and education training, Nam said.

As of this May, Can Tho had nine Korean investment projects with a total registered capital of US$247 million, and the $17.7 million Korea Vietnam Incubator Park, which uses official development assistance (ODA) from Korea.

Another ODA project on supporting agricultural mechanisation in Can Tho is being considered by the Ministry of Planning and Investment, the municipal Department of External Affairs said.

Four other projects sponsored by Korean non-governmental organisations are also underway in the Mekong Delta city, which include healthcare for children and women; and teaching Korean language and culture to Vietnamese women who wish to marry Korean citizens.

In 2016, Can Tho posted $9.5 million in exports to and $6.9 million in imports from South Korea. The figures were $2.1 million and $1.7 million, respectively, in the first four months of this year.