Thai Binh can attract more South Korean investment: former president Lee Myung-bak

South Korean ex-President Lee Myung-bak has advised Thai Binh province and Vietnam’s central government to talk with businesses to resolve problems and facilitate more investment from his country.

Speaking at the second Thai Binh-South Korea business-trade-tourism promotion conference Saturday, he said more firms from his country should invest in the northern province.

In line with the upgrade of Vietnam-South Korean bilateral relations to that of a comprehensive strategic partnership in 2022, more business collaborations between the two countries are expected, Lee said.

Thai Binh Chairman Nguyen Khac Than said the province looked to expand cooperation with South Korean partners in import-export, education, healthcare, culture and labor exchange.

He noted that the province has forged partnerships with several South Korean localities including the provinces of Chungcheongbuk, Gyongsangbuk, and Gyeonggi, and the cities of Incheon and Yeongju.

Also Saturday, Thai Binh authorities granted investment certificates to three South Korean firms: beverage firm HiteJinro for a $100 million project at the Lien Ha Thai Industrial Park; automobile components maker SH Tech for a $3.5 million project at the Vu Hoi Industrial Cluster; and glass product firm HuM&C for a $6 million project at the Tien Hai Industrial Park.

Additionally, Thai Binh’s Kien Xuong and Vu Thu districts signed a labor agreement with South Korea’s Incheon city; and the Thai Binh University signed agreements with three South Korean partners, namely MC Vietnam Holdings, Vietnam-South Korean center of Seoul National University, and Busan University of Foreign Studies.

So far, Thai Binh has attracted 30 Korean-invested projects with a total registered capital of $256 million, accounting for 18% and 8% of the provincial total, respectively.