Manufacturing News 02/05/2024, 04:00

Hai Phong Attracts Additional 370 Million USD from Korean Enterprises

On April 24th, in Seoul, Korea, at the investment promotion conference with the Korean Chamber of Commerce and Industry (KCCI), Hai Phong awarded investment certificates to 8 projects.

Hai Phong Attracts Additional 370 Million USD from Korean Enterprises

This is the second investment promotion conference organized by the Hai Phong Economic Zone Authority and KCCI, which attracted the participation of 120 leading Korean businesses and corporations.

At the conference, Mr. Le Trung Kien, Head of the Hai Phong Economic Zone Authority, introduced the investment environment and the city's preferential policies for investors, especially Korean enterprises investing in industrial parks and economic zones in Hai Phong.

Within the framework of the investment promotion conference, Samsung Engineering Co., Ltd. and Sao Do Investment Group Joint Stock Company signed a Memorandum of Understanding to cooperate, establish, expand, and strengthen cooperative relationships; support research, implementation, deployment, and investment in developing projects in Vietnam.

The representative of Hai Phong awarded 8 Investment Registration Certificates for 8 new projects and adjusted for capital increases to investors.

8 projetcs including: Project of INNOX ECOM Co., Ltd. (newly granted 10 million USD) in Nam Dinh Vu IP; Project of manufacturing, processing, assembling main PCB, PCB display screen of Seyoung Vietnam Co., Ltd. (newly granted 35 million USD) in DEEP C IIA IP; Project of DH Lightning Vina Co., Ltd. (capital increased 55.8 million USD) in DEEP C IP; HKT Electronics Vietnam Hai Phong Co., Ltd. (capital increased 73.5 million USD) in Trang Due IP; Kyungnam Chemical Vina Co., Ltd. (capital increased 72 million USD) in Nam Cau Kien IP; Youngjin E&C Vina Co., Ltd. (capital increased 51 million USD) and Hanmiflexible Vina Co., Ltd. (capital increased 10 million USD) both in Trang Due IP; Hansung P.T.C Vina Co., Ltd. (capital increased 60 million USD) in Nam Cau Kien IP.

According to Mr. Le Tien Chau, Member of the Party Central Committee, Secretary of Hai Phong City’s Party Committee, in the past 3 years, especially since the investment promotion conference held at KCCI headquarters in 2022, FDI capital from Korea to Hai Phong has increased sharply. Hai Phong City has attracted more than 20 projects from Korea with a capital of more than 3 billion USD, along with the presence of many leading Korean and world investors, such as SK, LG, Posco, etc.

As of now, there are more than 100 investment projects from Korea in Hai Phong with a total capital of 12 billion USD, accounting for 40% of the total FDI capital in the city and 14% of the total Korean FDI capital in Vietnam.

Translator: Hoang Truc
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