Efforts to call for investment promotion in Korean and Japanese markets

baophutho.vnDetermining that attracting foreign direct investment (FDI) is an important “leverage” for socio-economic development, Phu Tho has been implementing many solutions to attract FDI investment in industries, fields and areas where the province has advantages and potentialities. In the “foreign capital” flows, Korean and Japanese investors are important partners, potential markets, and key points for Phu Tho to call and promote investments in the locality.

Starting to pay attention to attracting FDI capital since 1997, by the end of August 2023, Phu Tho had 192 active FDI projects with a total registered capital of about 3,093.6 million USD. In particular, Korea is currently the leading country in foreign investment projects in the province, accounting for nearly 80% of the total number of foreign-invested companies with a total registered capital of more than 51%. At the same time, they are also the leading companies in terms of large investment scale in the province, typically the electronic components production project of JNTC Vina Co., Ltd. is 383 million USD; The exported electronic components factory project of Namuga Phu Tho Technology Co., Ltd. is 130 million USD... Notably, the investment capital from Korean investors investing in the province also increased rapidly in these fields that the province encourages and has advantages in attracting investment such as: Manufacturing, processing, and exporting garments; manufacturing, processing and assembling electronic components, mobile phone components...

For Japan, the province currently has 7 investment projects from this country, with a total registered capital of about 34 million USD, of which the largest FDI project is a garment factory complex at Phu Ha Industrial Park of Matsuoka Phu Tho Co., Ltd. directly under Matsuoka Group with a total investment capital of 25 million USD, which creating jobs for more than 2,000 local workers.

With the long-term cooperative relationship in many fields between Vietnam and Korea, Japan is still a market with great potentialities for investment promotion. Therefore, to continue to receive large capital flows as well as invite investors in the fields that Phu Tho desires, the province is implementing the motto of attracting investment in a proactive, flexible and focused manner.

Accordingly, the province proactively improves the investment and business environment in an open, transparent and attractive direction, shown through the Provincial Competitiveness Index (PCI); effectively support investors in providing information related to investment projects, guiding investment procedures, project construction and implementation... The province has also prepared documents introducing the investment environment and regularly adjusts and supplements the list of projects calling for foreign investment capital over time as a basis for promoting and attracting investment; promotes images, propagates and introduces the local investment environment on mass media... Promotion methods have been innovated in the direction of combining the organization of investor conferences with direct approach.

Along with enhancing promotion activities, creating a transparent, open, and attractive investment environment to attract investors, in the coming time, Phu Tho will continue to implement many solutions for support and companion with companies, which contributes to help the companies invest successfully in the province and creates motivation to attract other companies.

Khanh Trang