Can Tho eyes more investments from RoK

Representatives of the People's Committee of Can Tho city on April 19 held a working session with a delegation from the Korea Institute for Advancement of Technology (KIAT) to discuss ways to attract more investment projects from the Republic of Korea (RoK).

The event also aimed to review the operation of the Vietnam - RoK industrial technology incubator and a project on agriculture mechanisation in the city.

Vice Chairman of the municipal People's Committee Nguyen Ngoc He said Can Tho hopes KIAT will serve as a bridge encouraging RoK companies to invest in Can Tho and the Mekong Delta.

Can Tho will create the most favourable conditions, including simplifying administrative procedures for investors, especially RoK firms, he affirmed.

The Vietnamese National Assembly had issued a resolution on a specific mechanism for Can Tho city, including incentives in terms of administrative procedures, taxes and customs, and land rent and use, for businesses investing in the locality, he said.

According to Lim Byung-hyuk, chief representative of KIAT in Vietnam, a "Meet Korea" programme with trade connection and business-to-business events is scheduled in Can Tho this year, hoping to attract RoK companies operating in Vietnam and those that want to invest and seek investment opportunities in Vietnam.

If this event is organised in Can Tho, it will offer a good chance for the Mekong Delta city to lure more investments from the RoK.

Lim said that KIAT will continue to promote RoK suppliers of spare parts, equipment, and technological machinery to enter the Vietnamese market.

The Vietnam-RoK industrial technology incubator has been in operation since 2015 with a total budget of about 17.7 million USD, with about 3.43 million USD from Can Tho city.

It has been supporting 11 businesses to participate in incubation, and helping 10 other enterprises and production facilities in and outside the city research and perfect new products.