KOVINET (South Korea) invests 1.5 trillion VND in Hoang Mai 2 Industrial Park.

(Baonghean.vn) - KOVINET Group (South Korea) has committed to investing in the infrastructure of Hoang Mai 2 Industrial Park (Nghe An province), covering 343 hectares, with a total investment of 1,500 billion VND.

Comrade Le Ngoc Hoa, on behalf of the Provincial People's Committee, and Mr. Soon Jae Sell, Chairman of KOVINET Group, signed the memorandum of understanding for investment in Hoang Mai 2 Industrial Park. Photo: Nguyen Son

In November 2016, KOVINET signed a memorandum of understanding with the People's Committee of Nghe An province regarding investment in Hoang Mai 2 Industrial Park, covering approximately 60 hectares.

However, after conducting on-site surveys and researching investment attraction policies, KOVINET proposed building the infrastructure for this industrial park with an area of ​​approximately 343 hectares, with a total infrastructure investment of over 1,500 billion VND.

Once the administrative procedures are completed, KOVINET has set a five-year development plan, starting in January 2018, to attract approximately 350 small and medium-sized Korean export businesses into the global export network in this region.

Sketch of the Hoang Mai 2 Industrial Park master plan by KOVINET Group. Photo: NS

Along with encouraging Korean businesses to invest, KOVINET is committed to cooperating with Vietnamese businesses to nurture strategic industries in the fields of new renewable energy, LED technology, wind power, electronic components, textiles, information technology, electric vehicles, and food production. When fully occupied, the value of this industrial park will be approximately 16,000 billion VND.

Vice Chairman of the Provincial People's Committee Le Ngoc Hoa expressed his pleasure at KOVINET's goodwill, investment efforts, and commitment to creating the best possible conditions for the group to expedite investment. He also assigned the Provincial Investment Promotion and Support Center and relevant departments and agencies to coordinate efforts to help KOVINET quickly complete administrative procedures and promptly implement the project.

Who is KOVINET - the corporation that will invest 1,500 billion VND in Nghe An?

Mr. Soon Jae Sell, Chairman of KOVINET Group, speaks at the meeting. Photo: Nguyen Son

Vice Chairman of the Provincial People's Committee Le Ngoc Hoa also requested KOVINET to coordinate with Nghe An province to expedite the completion of administrative procedures by November 2017 so that construction can begin in December 2017.

Nghe An province is committed to closely cooperating with Korean businesses to provide a stable workforce for the implementation of production and business projects in Nghe An; supporting Korean language training for experts, engineers, and workers in the area working on projects of Korean investors in Nghe An. The province will continue to implement administrative reforms, apply preferential policies and investment support, and provide the most favorable conditions for businesses to operate and invest in the locality.

Provincial leaders and representatives from various departments and agencies held a working meeting with KOVINET Group. Photo: Nguyen Son

Hoang Mai 2 Industrial Park is located near National Highway 1A and the Trans-Vietnam railway, bordering Southeast Asian countries; it is also close to an international port capable of receiving ships of 50-70 thousand tons and Vinh International Airport, which is planning to open direct flights to South Korea in 2018. These are positive advantages that attract investors.

"Several Australian businesses want to visit Nghe An to learn about investment opportunities."

"South Korean businesses are exploring investment opportunities in a solar power park in Nghe An."

Nguyen Son