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Subject
Daegu signs Friendship City agreement with Bac Nihn Province, Vietnam’s first advanced industrial city
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Date of registration
2019-03-06
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Content

On February 22, Lee Seung-ho, Vice Mayor for Economy, visits Bac Nihn Province to sign the Friendship City agreement.

 

On February 22, Daegu will sign a Friendship City agreement with Vietnma’s Bac Nihn Province, which has recorded remarkable development with an annual growth rate of 19 percent.

 

The negotiation to become Friendship Cities began in September 2018, when a delagation from Bac Nihn Province visited Daegu, which is affiliated with Samsung, and requested exchanges between the two regions.

 

In view of the fact that the income level of Bac Nihn Province is three times higher than that of Vietnams average income level and that Korean businesses are concentrated in the province, Daegu is planning on pursuing exchange in medical tourism, education, and culture, exchanges between Daegus IT companies and companies in Bac Nihn Province, and overseas employment for youths.

 

After signing Friendship City agreements with Danang, a major city in central Vietnam, in 2004 and with Ho Chi Mihn City in southern Vietnam in 2015, Daegu will be signing Friendship City agreement with Bac Nihn Province, the economic center of northern Vietnam this year, establishing bases of sustainable economic exchange throughout Vietnam.

 

By signing Friendship Agreements with Ho Chi Mihn City in southern Vietnam, Danang in central Vietnam, and now Bac Nihn Province in northern Vietnam, Daegu has established bases for economic exchange all throughout Vietnam.

 

Bac Nihn Province is the center of industries and logistics, bordering Hanoi, the capital of Vietnam, to the south and China to the north. Famous as the site for Samsung Electronics, it is home to over 800 high-tech Korean companies and therefore has close economic ties and important strategic value for Korea.