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Vietnam Today

Da Nang to set up rep office in South Korea

Released at: 10:27, 17/04/2015

Da Nang to set up rep office in South Korea

Opening of representative office will promote city among investors and tourists.

by Gia Bao

The central city of Da Nang plans to open a representative office in South Korea to promote investment, trade and tourism between the city and South Korean localities as well as investors, according to Mr. Luong Minh Sam, Director of the city’s Department of Foreign Affairs. “Preparations for establishing the representative office will be completed this year,” he told VET.

The city has had discussions with its South Korean partners on whether to select Seoul, Incheon or Busan as the location of the representative office. Its opening will create a link between domestic enterprises and foreign investors and publicize the city’s priority policies for investors. “Da Nang has had a representative office in Tokyo doing similar work for over ten years,” Mr. Sam added, with its presence strengthening cooperative relations between the city and Japanese localities in investment, trade, tourism, human resources development, cultural exchanges, and other fields.

South Korea led the way in 2014 with total newly-registered and additional foreign direct investment (FDI) capital of $7.32 billion, accounting for 36.2 per cent of all registered FDI into Vietnam during the year, according to figures from the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.

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