Vietnam – RoK Industrial Park to take shape in Hung Yen
The northern province of Hung Yen has issued a decision on the establishment of the Vietnam – Republic of Korea Economic Cooperation Industrial Park (IP).
|A leader of Hung Yen province presents the IP's investment license to a representative of Korean investors at a ceremony held on November 17. (Photo: baoxaydung.com)|
The IP, which covers more than 140 hectares in the Ly Thuong Kiet Industrial Park and Urban Service Complex, is part of a core economic cooperation project that the RoK Government is promoting in Vietnam through its New Southern Policy in the housing, real estate and industrial sectors.
The IP project has been approved by the Prime Minister and added to a master plan on industrial park development in Vietnam up to 2020.
It is being invested by the Korea Land and Housing Corporation in collaboration with TDH Ecoland Urban Development and Investment JSC and a number of RoK investors. The investors are now working on procedures for land acquisition and infrastructure investment.
The project is divided into two phases with a total investment of more than VND1,780 billion, equivalent to nearly US$77 million.
Dang Ngoc Quynh, vice chairman of the Hung Yen Provincial People’s Committee, said that Hung Yen always accompanies and creates the best possible conditions for investors to undertake the project to ensure the first Korean-style eco-friendly industrial park in Vietnam will be put into operation soon.
The Vietnam – RoK Economic Cooperation Industrial Park will be a symbol of the Vietnam - Korea economic cooperation, aiming to celebrate the 30th anniversary of the establishment of diplomatic relations between the two countries in 2022, he stressed.
Vietnam remains a safe and attractive destination for foreign investors despite complicated developments of the COVID-19 pandemic.