(Dong Nai) – Over the years, Dong Nai has consistently affirmed its position as a preferred destination for foreign investors, ranking among the country’s leading localities in investment attraction, industrial development, budget contribution

The above achievements have been significantly supported by foreign direct investment (FDI) enterprises, including Korean businesses. In particular, as Dong Nai transforms into a city with many changes ahead, Dong Nai Newspaper and Radio & Television spoke with Mr. Jung Jung Tae, Consul General of the Republic of Korea in Ho Chi Minh City.

*Dong Nai has recently had the Resolution on the establishment of Dong Nai City approved by the National Assembly. What are your thoughts on this, and what expectations do you have for Dong Nai after it becomes a city, Sir?

​- First of all, allow me to extend my congratulations to Dong Nai on being upgraded to city status.

Becoming a city is expected to give the new Dong Nai greater conditions to further expand its autonomy in management and administration. In particular, in the areas of finance and budget, both the degree of autonomy and the efficiency of implementing revenue and expenditure activities based on tax revenues are expected to continue improving.

The new Dong Nai City will have more favorable conditions to clearly identify priority areas in policy planning and implementation, thereby concentrating resources and increasing investment in key sectors. At the same time, its capacity to develop infrastructure systems serving business operations, as well as the quality of public service delivery, is expected to continue improving in a more synchronized and effective manner.

I hope that in the coming period, Dong Nai City will introduce more attractive investment attraction mechanisms to create an increasingly professional and modern investment and business environment. Dong Nai City will become an important growth pole of Vietnam and a key link in regional development connectivity, forming a modern and sustainable logistics ecosystem that participates deeply in global supply chains.

I believe that, in the near future, as Dong Nai’s investment environment improves and its appeal to investors increases, Dong Nai City will certainly become a strong magnet for investment capital from the domestic and foreign business communities, especially Korean enterprises.

*For many years, South Korea has maintained an excellent relationship with Vietnam in general and Dong Nai Province in particular. In your view, what have been the outstanding results in the development cooperation of Korean enterprises in Dong Nai over the past years?

- Since the two countries upgraded their relations to a comprehensive strategic partnership in 2022, Vietnam and South Korea have achieved remarkable progress across all fields, including politics, economy, society and culture. They have also established the highest-level partnership as key global cooperation partners. Dong Nai is one of the representative localities that clearly demonstrates this cooperation.

Dong Nai provincial leaders visit and congratulate Changshin Vietnam Co., Ltd., a Korean enterprise.

Dong Nai currently has more than 430 Korean enterprises operating across various sectors, from traditional manufacturing such as footwear and textiles to logistics and electronic components. Notable examples include Hyosung Group, Posco Group and TKG Taekwang Vina Joint Stock Company. These enterprises have contributed to economic development and job creation for local workers. In addition, exchanges between local authorities are also being implemented in a substantive manner.

*South Korea is currently the largest foreign investor in Dong Nai, with total investment capital of over USD 8.1 billion. In your view, what has made Dong Nai attractive to investors?

- Dong Nai, together with Ho Chi Minh City, forms the largest economic region in southern Vietnam. For FDI enterprises, this is highly valuable; for Korean businesses in particular, Dong Nai serves as an optimal base where production, export and domestic distribution activities can be carried out simultaneously. Thanks to these advantages, many Korean enterprises have invested in Dong Nai, creating a highly favorable environment to generate synergy among Korean businesses, from component supply to the establishment of cooperation networks.

Moreover, once Long Thanh International Airport comes into operation, Dong Nai will serve as a connectivity hub for the entire Southeast Asian region, improving logistics efficiency. As a result, Dong Nai is expected to make a strong breakthrough, moving beyond being merely a production base to become a key industrial and logistics center. I find this transformation to share many similarities with South Korea’s Incheon Free Economic Zone.

*How are Korean enterprises currently viewing Vietnam’s investment environment? Does Dong Nai meet the criteria of Korean investors?

- Vietnam recorded economic growth of over 8% last year and successfully completed the reorganization of its administrative units. This is the country’s largest reform since the Doi Moi policy was introduced in 1986.

In addition, Vietnam continues to undergo strong changes, including simplifying administrative procedures, adopting business-centered policies, easing regulations and expanding digital administration. At the same time, the country is accelerating large-scale infrastructure development, including Long Thanh International Airport, Cai Mep - Thi Vai Port and the North - South Expressway. These factors — from stable growth and strong reform determination to robust infrastructure investment — have helped Vietnam remain an attractive investment destination for Korean enterprises considering production relocation and market expansion.

The implementation of large-scale national infrastructure projects in Dong Nai is bringing positive prospects for investors. In addition, the simplification of procedures through administrative reform and legal policies is also a notable point. We expect that Dong Nai’s changes and opportunities will further increase the value of investment attraction into the locality. However, such rapid changes may also lead to transitional disruptions at enterprises’ production and business facilities. We hope that in the coming period, Dong Nai City will create more opportunities for dialogue with Korean-invested enterprises.

*In your view, what strengths do Korean enterprises have, and in which sectors do they wish to invest and cooperate?

- With its favorable geographical location, combined with existing sea and air transport connections, Dong Nai holds significant potential for cooperation in logistics. In particular, smart logistics is the most promising field.

Currently, the integrated logistics center being developed in Dong Nai by South Korea’s Lotte Global Logistics is fully equipped with both ambient-temperature and cold-storage areas, helping deliver highly reliable products to consumers.

These infrastructure facilities are expected to support the development of Vietnam’s fresh food and biopharmaceutical markets by reducing logistics costs and ensuring product quality.

*Over the past period, many of Vietnam’s policies and regulations have been amended and improved, which has had certain impacts on business operations. How do you assess the support and companionship of Dong Nai City’s leaders for enterprises?

- Recently, during the process of reorganizing administrative units and revising legal documents, certain disruptions have arisen in the transitional period. Typical examples include delays in work permit issuance and disruptions in food imports due to amended provisions in the Law on Food Safety. Although these may be seen as issues arising in the process of improving the legal system, the inconvenience and risks actually felt by businesses are much greater. In addition, increased uncertainty may also lead to negative impacts.

To address this issue, the process of amending laws must reflect voices from practice. No matter how advanced the legal system becomes, if it fails to reflect issues arising in reality, the effectiveness of legal amendments will certainly not be achieved. Therefore, I believe city leaders and relevant agencies need to strengthen dialogue and listen to businesses more regularly. At the same time, it is essential to quickly establish a system to resolve enterprises’ difficulties and obstacles in a prompt and timely manner. Through this, policy implementation will become more consistent, the business environment more open, and business confidence will be further strengthened.

*Recently, several Korean localities and enterprises have developed trade connections with Dong Nai. South Korea has also coordinated with and supported Dong Nai in carrying out investment promotion programs in South Korea, as well as exchanging and sharing experience in human resource training. How do you assess this?

To elevate Vietnam–South Korea relations to a new level, I believe exchanges between localities, as well as people-to-people exchanges to enhance mutual understanding, are important. Dong Nai has maintained exchanges in industrial human resources and youth activities with Korean local governments. I am very pleased with this and hope that, as these exchanges continue and trust is increasingly strengthened, cooperation areas will also expand and lead to more substantive partnerships.

To achieve this, the Consulate General of the Republic of Korea will also support the expansion of multi-level exchanges, from officials, civil servants, enterprises and universities to young people, thereby enhancing mutual understanding between the peoples of the two countries and building a foundation for cooperation toward a sustainable development future.

*Dong Nai is prioritizing the attraction of high-tech, environmentally friendly projects that participate in global supply chains. Could you share how Korean enterprises can meet some of these criteria at present?

The development strategy that Dong Nai is pursuing — focusing on high technology, environmental friendliness and global supply chains — is very timely, in line with the construction of the North–South Expressway and Long Thanh International Airport. Korean enterprises already have competitiveness in these fields and are also fully capable of meeting Dong Nai’s criteria and development orientations.

To attract investment from competitive Korean enterprises in related sectors, I believe Dong Nai needs to quickly complete legal regulations concerning new industries such as advanced technology, high technology and environmentally friendly sectors. For strategic areas where investment attraction is needed, Dong Nai should introduce stronger incentive policies, especially in terms of administrative support.

*What plans do you have to connect and promote diplomatic relations, investment promotion and trade cooperation between South Korea and Vietnam, including Dong Nai?

The Consulate General of the Republic of Korea is fully aware of Dong Nai’s strategic importance, particularly as the locality is undergoing major changes in its urban governance model upon becoming a city.

Therefore, the Consulate General will focus on expanding exchange opportunities to strengthen cooperation with Dong Nai. We hope to actively utilize various channels of exchange, from business dialogue conferences chaired by the Consulate to meetings with local leaders and implementing officials. Through these efforts, recommendations from Korean enterprises—major investors in Dong Nai—will be compiled and conveyed in a more systematic manner, contributing to an effective cooperation mechanism, ensuring that investors’ concerns and proposals are fully reflected in the broader development process and deliver the most practical outcomes.

Sincerely, thank you very much.

Ngọc Liên (thực hiện)

Source: https://baodongnai.com.vn/