Who is KOVINET - the corporation that will invest 1,500 billion VND in Nghe An?
(Baonghean.vn) – Immediately after the news broke that KOVINET (South Korea) invested 1,500 billion VND in developing an industrial park in Nghe An, many people were curious to find out which company or corporation made such a bold decision (?!).
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| Representatives from KOVINET conduct a site survey at the planned Hoang Mai 2 Industrial Park in Nghe An province. Photo: Van Nam |
Many people have searched for KOVINET on Google but haven't found all the information they wanted.
According to the Nghe An Provincial Investment Support and Promotion Center, KOVINET is a newly formed group in South Korea, essentially a "Korean Smart Business Association" with approximately 500 members, specializing in strategic industries such as: renewable energy, LED technology, wind power, electronic components, textiles and garments, information technology, electric vehicles, and food production.
Mr. Nguyen Van Nam, Deputy Director of the Investment Support and Promotion Center of Nghe An province, added: This is a partner that Nghe An province met directly in South Korea during the province's investment promotion trip at the end of 2016. Immediately afterwards, Chairman Soon Jae Sell himself came to Vietnam, directly to Nghe An, to explore investment opportunities and sign a memorandum of understanding.
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| Sketch of the Hoang Mai 2 Industrial Park master plan by KOVINET Group. Photo: NS |
After returning to South Korea to discuss matters with the Smart Business Association, Mr. Soon Jae Sell, Chairman of KOVINET, returned to Nghe An in July 2017 with the determination to invest in Hoang Mai 2 Industrial Park (IP), covering an area of 343 hectares (more than five times larger than previously planned). An agreement was signed between the Provincial People's Committee and KOVINET, with both sides agreeing to accelerate investment in Hoang Mai 2 IP, and construction is expected to begin at the end of 2017.
KOVINET's investment method is through the Korean Business Association, which decides on infrastructure investment for each registered small and medium-sized enterprise in Hoang Mai 2 Industrial Park. Accordingly, it is expected that approximately 350 Korean businesses will invest in Hoang Mai 2 Industrial Park.
KOVINET (South Korea) invests 1.5 trillion VND in Hoang Mai 2 Industrial Park.
"South Korean businesses are exploring investment opportunities in a solar power park in Nghe An."
Nguyen Nguyen
