Secretary Nguyen Anh Tuan receives and works with Chairman of Phillips Group (Korea)

Secretary of the Provincial Party Committee Nguyen Anh Tuan presents a handicraft village product to Mr. Bang Seung Ho.

Participants at the reception were Mr. Dao Quang Khai, Member of the Provincial Party Standing Committee and Vice Chairman of the Provincial People’s Committee; leaders of the provincial departments, branches and sectors.

Secretary Tuan expressed his pleasure in welcoming the Group to visit and work in Bac Ninh province. He briefed on the geographical location, cultural traditions, investment attraction environment and outstanding results in socio-economic development of the province over the years with many indicators among the top in the country such as: export value; total foreign direct investment; GRDP scale; GRDP per capita; State budget revenue, etc.

Vice Chairman of the Provincial People’s Committee Dao Quang Khai (far left) and leaders of departments, branches and sectors attend the reception.

Regarding investment cooperation, Bac Ninh currently boasts 2,350 projects from 41 countries and territories. Among them, Korea takes the lead in terms of registered investment capital with nearly 100 valid projects totaling about USD 14.7 billion (accounting for nearly 60% of total FDI capital in the province). Korean businesses are gradually expanding into new fields such as semiconductors, clean energy, construction, real estate, distribution, retail and so on. There is still plenty of room for increasing FDI capital from Korea into Bac Ninh in the near future.

The Secretary hoped that after this working visit, Phillips Group could find a suitable investment environment in Bac Ninh province, opening up new cooperation opportunities to create new and high-quality electronic products, thereby, positively contributing to the province's socio-economic development. “The businesses’ success is also the province’s success. Bac Ninh province is committed to always accompanying, supporting and creating the most favorable conditions for businesses as well as Phillips Group to invest and do long-term and effective business in Bac Ninh”, he stressed.

Overview of the reception.

For his part, Mr. Bang Seung Ho expressed his admiration for the outstanding socio-economic development of Bac Ninh province in recent times, especially the involvement of the entire political system in accompanying and supporting the business community, including Korean businesses. At the same time, he said that Phillips Group in Korea is focusing mostly on the strategy of producing high-quality and environmentally friendly electric vehicles, batteries and electric motorbikes for the needs of Korean consumers and other countries in the region.

Provincial leaders take a photo with Phillips Group.

In the upcoming time, Phillips Group will consider and comprehensively evaluate the investment project of the manufacturing plant in Bac Ninh province. It was hoped that the Bac Ninh's party committee, authorities, departments, sectors and localities would pay attention, support, coordinate and create the most favorable conditions for the Group to research and implement projects in the nearest future.