On September 25th, Chairman of the People’s Committee of Binh Dinh province, Pham Anh Tuan, hosted a meeting with a delegation of South Korean businesses led by Mr. Cheun Eung Sik, Chairman of Daewon Group, and Mr. Choi Hyun, Development Director of Lotte Mart Joint Stock Company, to explore investment opportunities in Binh Dinh. The meeting was attended by representatives from the provincial departments of Planning and Investment, Industry and Trade, Natural Resources and Environment, Information and Communications, Foreign Affairs, and the Management Board of Binh Dinh Economic Zone.
Daewon Group is a diversified conglomerate with a presence in urban development, real estate, commerce, eco-tourism, smart farms, textiles, construction, and more. It is one of the top ten South Korean investors in Vietnam. Lotte Mart, a subsidiary of the Lotte Group, operates a large chain of supermarkets offering a wide range of products.
Meeting Overview
During the meeting, Mr. Cheun Eung Sik and Mr. Choi Hyun expressed their appreciation for the province’s development potential and advantages. They sought support from the provincial leadership and relevant departments in exploring investment opportunities in areas such as urban and industrial development.
The delegation aims to construct buildings integrated with commercial centers and develop a large-scale supermarket chain in Quy Nhon City. These projects are intended to meet the needs of locals and tourists alike, contributing to the overall development of Binh Dinh province.
Chairman Pham Anh Tuan highlighted the province’s potentials, advantages, and investment attraction orientations for the next phase as per the provincial plan approved by the Prime Minister. The province is focused on attracting domestic and foreign investors, including those from South Korea, in high-tech and environmentally friendly industries, tourism, renewable energy, port and logistics services, high-tech agriculture, deep processing of agricultural products, and urban economic development.
Binh Dinh offers well-invested transportation infrastructure, beautiful coastal areas, and land funds for industrial park development, welcoming investors and businesses from both within and outside the country.
Acknowledging the strengths of the two South Korean investors, Chairman Pham Anh Tuan affirmed that the projects and fields of interest of the Daewon Group and Lotte Mart align with Binh Dinh’s development orientation. In addition to urban and industrial fields, Korean enterprises, in general, have ample investment opportunities in real estate, commerce, and other sectors.
The Chairman proposed that the Daewon Group and Lotte Mart allocate more time to conduct surveys and feasibility studies, thereby proposing specific investment projects in Binh Dinh. The province is committed to creating the most favorable conditions in terms of administrative procedures, land, site clearance, and a transparent, favorable, and equitable business investment environment for the success of these enterprises. Chairman Pham Anh Tuan expressed his hope that through this survey and exploration, Binh Dinh province and the Daewon Group and Lotte Mart would establish long-term cooperation, fostering mutual development in areas of mutual interest in the future.
Regarding the concerns of the two businesses, Chairman of the People’s Committee of Binh Dinh Province, Pham Anh Tuan, instructed the Department of Planning and Investment to act as a focal point, providing maximum support to South Korean enterprises in exploring investment opportunities and implementing projects in the province.
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