South Korea is the leading investor in Nghe An.

(Baonghean) - To date, South Korea is the leading country in terms of the number of investment projects in Nghe An with 12 projects, totaling over 64.48 million USD. Some investment projects have been implemented quickly, yielding early results, creating many jobs, contributing significantly to the budget, and helping to build and strengthen cooperative relations between the two sides.

Assembling electronic components at the BSE electronic component manufacturing plant (South Korea).

Create more jobs for workers.

The Haivina Kim Lien export garment factory (Nam Giang, Nam Dan) is one of the fastest-growing, most efficient, and reputable investment projects in Nghe An province. Currently, the factory employs nearly 3,000 workers, with monthly incomes ranging from 4-5 million VND per person. Ms. Nguyen Thi Van, a worker from Nam Dan, shared: “As a worker at the company, I have a young child, and the company provides excellent support in many aspects. Besides ensuring timely wages and salaries, I and other workers are allowed to leave an hour earlier to care for our children while still being credited with 8 hours of work per day. Furthermore, I have learned challenging sewing techniques that meet the standards for export to European countries, such as the production of sports gloves and clothing.”

Mr. Phan Thanh Tinh, in charge of administration at Haivina Kim Lien Co., Ltd., said: “After returning from working in South Korea and being able to work for a South Korean company right in my hometown, I have more income and better conditions to take care of my family. With my Korean language skills, I also have an advantage in my work…”

For many years, Haivina Kim Lien Co., Ltd. has been a model among foreign-invested enterprises in Nghe An province for its harmonious relationship between the government, the company, and its employees. In addition to receiving timely support from relevant agencies and departments regarding electricity, water, land, and insurance policies, the company has also proactively established a trade union, ensuring material and spiritual well-being for its employees. As a result, workers are committed to and dedicated to the factory.

The team of engineers working at Haivina Kim Lien Company

In the Nam Cam Industrial Park, the BSE (South Korea) electronics component manufacturing plant is the enterprise that creates the most jobs, employing nearly 4,000 people. The plant has a total investment of $30 million on an area of ​​5.7 hectares, with a production capacity of 250 million products per year. Each year, the plant contributes over 50 billion VND to the provincial budget. From the beginning of the year until now, the plant has achieved revenue and contributed 58 billion VND to the budget. With such a large workforce, the company is also improving the working environment, such as enhancing meal quality, installing air conditioning in the production workshops, providing slippers for workers to wear to work in the factory, and having representatives to protect the rights of employees.

To date, South Korea is the country with the highest number of investment projects in Vietnam in general and in Nghe An in particular. Of the 35 FDI ​​projects licensed in Nghe An, South Korea accounts for 12. Among the successful South Korean projects in Nghe An, the textile and electronics assembly projects are the most effective. Regarding ODA capital, South Korea has one project that has become operational and is performing well: the Vietnam-Korea Technical Vocational College, invested by the South Korean government with a total investment of 7.3 million USD, currently in phase 2.

Gloves for export manufactured by Haivina Kim Lien Company

Continue to attract more effective programs and projects.

South Korea is geographically close to Vietnam, shares many cultural similarities, and is a developed country in terms of economy and technology. Nghe An province can learn a great deal from its experience in management, technological innovation, and labor training. In recent years, the cultural and economic exchange between the two countries, as well as the increasing number of Nghe An workers going to work in South Korea and then returning to work for Korean companies, has fostered a closer relationship between South Korea and Nghe An province. The leaders of Nghe An province and the Nghe An Investment Promotion and Development Consulting Center are also focusing on attracting investment from South Korea, considering it a strategic and important partner to continue attracting in the future.

From 2011 to the present, attracting investment from South Korea to Nghe An has yielded encouraging results, especially in creating jobs for workers and contributing to the shift in the rural economic structure from agriculture to industry and services. However, overall, it has not yet met the province's development needs; it has not attracted large-scale projects with significant driving force and ripple effects.

Most projects from South Korea are small and medium-sized, and utilize little advanced technology (primarily focusing on mining and mineral processing, and employing cheap labor such as garment manufacturing and electronics assembly; there are also few projects in manufacturing, deep processing, and supporting industries...).

According to Mr. Nguyen Van Nam, Director of the Nghe An Investment Promotion and Development Consulting Center: In the coming time, the main partners attracting investment to Nghe An will still be countries and businesses from the economies of South Korea, the US, the EU, Japan, Singapore… and Nghe An will hold an investment attraction conference right in South Korea to welcome a new wave of investment from that country.

Chau Lan