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Vietnam’s southeastern region to receive investment worth up to $10bn

Vietnam’s southeastern region to receive investment worth up to $10bn

Sunday, November 27, 2022, 15:01 GMT+7
Vietnam’s southeastern region to receive investment worth up to $10bn
Memorandums of understanding are presented during a conference on socio-economic development in Vietnam’s southeastern region, November 26, 2022. Photo: D.H. / Tuoi Tre

Vietnamese Prime Minister Pham Minh Chinh on Saturday witnessed the presenting of memorandums of understanding (MoUs) and cooperation agreements on funding for projects in the country’s southeastern region, with total registered investment capital reaching US$10 billion.

PM Chinh chaired a conference on orientations for socio-economic development in the southeastern region by 2030, with a vision to 2045, organized in southern Ba Ria - Vung Tau Province on Saturday.

The southeastern region comprises Ho Chi Minh City and Dong Nai, Binh Duong, Ba Ria - Vung Tau, Binh Phuoc, and Tay Ninh Provinces.

During the event, leaders of provinces and cities in the southeastern region presented investment certificates, investment policies, and MoUs to enterprises in their localities.

The total registered investment capital at the conference amounted to approximately $10 billion.

Deputy Minister of Planning and Investment Tran Duy Dong also received MoUs, cooperation minutes, and letters of interest in funding from the World Bank in Vietnam, Asian Development Bank in Vietnam, Japan International Cooperation Agency in Vietnam, and the Export-Import Bank of Korea in Hanoi.

Vietnamese Prime Minister Pham Minh Chinh speaks at the conference on socio-economic development in Vietnam’s southeastern region, November 26, 2022. Photo: D.H. / Tuoi Tre

Vietnamese Prime Minister Pham Minh Chinh speaks at a conference on socio-economic development in Vietnam’s southeastern region, November 26, 2022. Photo: D.H. / Tuoi Tre

The capital in these minutes and letters was worth up to $4.2 billion.

At the conference, Yoo Sun Hyung, deputy general director of Hyosung Vietnam Company, said that South Korea’s Hyosung Group is very interested in the renewable energy sector in order to reduce carbon emissions.

The group has drawn up a plan to reduce carbon dioxide by actively cooperating with legal entities in Vietnam.

Hyosung Group praises the potential for clean energy development in Vietnam and the country’s southeastern region in particular, Yoo continued.

Thanks to the attention of the Vietnamese government and local agencies, Hyosung has succeeded in many of its investment projects.

"We are committed to doing our best to transfer technologies related to renewable energy and green energy, contributing to the development of clean energy in the southeastern region as well as in Vietnam," Yoo stated.

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Duy Khang - Dong Ha / Tuoi Tre News

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