South Korean investor to build US$900 million smart park in southern Vietnam
Chairman of the People’s Committee of An Giang Province, Nguyen Thanh Binh, (R) hands over an investment in-principle certificate for a smart IP project to Oh Se-young, a representative of a South Korean investment promotion association. (Photo: VNA)

Local leaders had a meeting on November 26 with representatives of an IP investment promotion association from South Korea to discuss developing smart industrial complexes on its land, to serve textile and garment, and metallurgy industries, reported the Vietnam News Agency.

During the meeting, provincial chairman Nguyen Thanh Binh handed over an investment in-principle certificate for the US$900-million smart IP project to Oh Se-young, a representative of the Korean association.

The Korean representative, Oh, said that An Giang has favorable conditions for the development of smart IPs, largely thanks to its human and land resources.

He added that his association has called upon other Korean firms to invest in the province.

Smart IPs from South Korea will employ advanced technologies, which are expected to meet international standards and Vietnam’s regulations on environmental protection, he stressed.

He also noted that with their experience and strengths in technology and high-quality human resources, Korean firms are confident that they will become important and long-term partners of An Giang in its plan to boost the textile and garment, and light metallurgy industries.

Additionally, the investment will help create jobs for local residents and increase revenues for the province, he said.

He said he expects local authorities to assist Korean firms in land issues, so that they could have quick access to cleared land for the construction of their factories.

Chairman Binh stated that the local government stands ready to ease the way for investors in the province.

Despite insufficient infrastructure, the province boasts a geographical location favorable to commercial activities, as well as low-cost labor. Therefore, he urged more Korean firms to locate there in the future.

Source: Saigontimes