Quang Tri promotes investment opportunities through strategic trade initiatives

The Quang Tri Promotion Agency (IPA) is set to organize a series of programs aimed at helping businesses expand their markets both domestically and internationally, playing a crucial role in the region’s socio-economic development.

Tran Phi Tuong, IPA Deputy Director, said that 2024 is a significant year for accelerating the completion of the goals outlined in the Resolution of the 17th Provincial Party Congress and the 5-Year Plan for 2021-2025.

Delegates attend the opening ceremony of the Trans-Asia Bridge trade-tourism fair 2024. Photo: H.T

He noted that the IPA has engaged major investors and leading corporations to attract investment in key provincial projects. The center has also intensified its investment and trade promotion activities through digital platforms, leveraging information technology and e-commerce to showcase business opportunities and enhance collaboration.

Specifically, from June 30 to July 3, the IPA participated in several investment promotion activities accompanying Prime Minister Pham Minh Chinh and his spouse on an official visit to South Korea. The delegation attended the Vietnam-South Korea Business Forum on July 1 in Seoul, where the Quang Tri Provincial People’s Committee signed memoranda of understanding (MOUs) with T&T Group and SK E&S Company on investment, trade, energy transition, and green growth.

An additional MOU was signed with SK Group to develop energy solution packages in Quang Tri. These agreements are vital for the province’s ambition to become the energy hub of the Central region in the near future, Tuong noted.

Moreover, the center successfully hosted an investment promotion program in South Korea from April 22-27, opening a promising new chapter for partnership and development cooperation between the province and South Korean agencies, organizations, and businesses.

In the early months of 2024, the agency successfully hosted a workshop on the Lao Bao - Densavan Cross-Border Economic Trade Zone. The center also participated in the Vietnam Expo 2024, showcasing the province at the “Vietnam Industrial Development Investment” booth.

During a meeting with the Vietnam Logistics Business Association (VLA), the IPA proposed that VLA assist the province in developing its logistics sector to become a new hub for goods transit and a connection point for the Central region with countries along the East-West Economic Corridor (EWEC).

In terms of trade promotion, the center advised the provincial government in organizing the successful the Trans-Asia Bridge trade-tourism fair 2024 in Quang Tri.

This event, part of the national trade promotion program, is a significant trade activity for both the province and the North Central region. The week-long fair attracted over 35,000 visitors and generated an estimated transaction value exceeding VND20 billion (US$789,000). More than 70 MOUs and economic contracts were signed between businesses for cooperation, distribution, and agency roles.

The IPA organized a business exchange program linking North Central suppliers with exporters and trade organizations. This initiative enabled nationwide businesses and distributors to meet, share experiences, and explore market information, enhancing production and distribution system, he said.

Tuong added that it also connected suppliers with foreign trade promotion agencies, boosting exports and helping Vietnamese companies access international distribution networks. By the program’s conclusion, 53 collaboration agreements were signed among participants.

The IPA deputy director said, alongside organizing conferences, the center is also encouraging businesses and cooperatives to accelerate digital transformation and diversify promotional strategies on e-commerce platforms. This includes training programs on applying digital technology in sales, promoting OCOP products, and enhancing connections among manufacturers and distributors to boost product sales.

Thu Ha – Khanh Khanh