Vietnam’s Can Tho invites S.Korean investment in 5 priority sectors

The sectors include science and technology, innovation, digital transformation, information and communications; high technology and processing industries; energy, especially renewable energy (wind and solar power); logistics infrastructure and smart urban development; and eco-tourism and hi-tech agriculture linked to environmental protection.

On Wednesday, leaders of the Can Tho Party Committee and People’s Committee held a working session with a delegation of South Korean businesses visiting the city to explore cooperation and investment opportunities.

During the meeting, Nguyen Tuan Anh, deputy secretary of the Can Tho Party Committee, stated that the city currently has 14 FDI projects funded by South Korean investors, with a total registered capital of US$316 million, as well as two ODA-funded projects from South Korea.

He noted that despite Can Tho's development potential and South Korea’s increasing investment trend in Vietnam, trade between Can Tho and South Korea remains modest and not yet commensurate with the potential.

Tuan Anh emphasized that, in addition to Vietnam's national investment incentives, Can Tho also benefits from special policies. 

These policies grant the city authority over key decisions related to incentives and investment.

In particular, the city has a strong delegation of authority in land-use planning and infrastructure investment.

The city also has the power to pilot its own fee and charge mechanisms, enabling it to set rates suitable to local realities and investment needs.

Additionally, Can Tho can apply special financial mechanisms, the official said.

He revealed that the city is developing policies to support chip design projects, semiconductor support industries, and R&D initiatives.

Can Tho is planning to establish a science and technology development fund to proactively support research, innovation, product commercialization, with a focus on semiconductor chips, startup projects, and digital technologies.

At the meeting, various departments and businesses in Can Tho signed several memoranda of understanding with South Korean enterprises.

Vice-chairman of the Can Tho People’s Committee Vuong Quoc Nam pledged that the city will direct relevant departments to actively coordinate with South Korean partners to quickly turn these agreements into concrete investment projects in Can Tho.