More than 150 South Korean businesses and investors attended a trade promotion conference between northern Hai Phong city and the Republic of Korea in Seoul on June 12.

The conference was co-organized by Hai Phong authorities and the Korean International Trade Association (KITA) to introduce the city’s investment environment to South Korean investors.

Many South Korean businesses have expressed their delight at the favorable investment environment in Hai Phong and confirmed that they will study, invest, and expand operations in the city in the time to come.

Speaking at the conference, Secretary of the Hai Phong Party Committee Le Tien Chau said the city continues to promote comprehensive cooperation with South Korean partners and he called on South Korean investors to invest in such fields as smart cities, e-government, renewable energies, semi-conductor component production, and infrastructure development.

The city committed to continue reforming its investment and business environment, focusing on developing infrastructure and industrial parks to welcome investors.

During the conference, Hai Phong authorities granted investment certificates to a number of investors and signed new agreements with South Korean partners on future cooperation, with committed capital of $1.5 billion.

The Republic of Korea has so far invested $81.5 billion in Vietnam, including nearly $10 billion in Hai Phong, or 12 per cent of the total.