Promoting investment flows from South Korea into Nghe An.

(Baonghean) - Recently, Nghe An has implemented many solutions to support and create favorable conditions for investors from many countries to invest in the province. Among them, many projects by investors from South Korea have proven effective, creating many jobs and income for workers.

South Korea shares many cultural similarities with Vietnam. Therefore, when many South Korean businesses invested in Nghe An, they quickly integrated and effectively implemented their projects. Among the investment projects by South Korean businesses in Nghe An, textile and garment factories and electronics assembly plants have proven to be the most effective.

Electronics manufacturing at BSE Company, Southeast Economic Zone.

Located in the Southeast Economic Zone, the BSE Vietnam Co., Ltd. electronics assembly plant, with a capacity of 250 million products per year, currently employs nearly 3,000 workers. Meanwhile, in Hung Thinh (Vinh City), the Emtech Vietnam Co., Ltd. branch factory currently employs 3,100 workers and is continuing to recruit more to produce mobile phone speakers. Mr. Kim Jong Gun, CEO of the Emtech branch (Vinh City), stated: “We opened our factory in Nghe An because there is an abundant labor force here, and the factory is located on the Vinh bypass, making transportation convenient. After recruitment, workers require an additional two months of training before they can start working, with an average income of 5.5 million VND per person. We have received attention and support from the provincial leadership, creating favorable conditions for the factory's stable operation.”

To date, Nghe An province has 12 active South Korean investment projects with a registered capital of US$60.97 million, employing over 10,000 local workers, including: Hitech BSE Vietnam, a factory producing components and electronic telecommunications equipment, established by BSE Vietnam Electronics Co., Ltd. in Nam Cam Industrial Park, Nghe An province, with a total investment of US$30 million and a production capacity of 250 million products per year; the Emtech Vietnam Co., Ltd. branch in Hung Thinh (Vinh City, Nghe An), producing mobile phone speakers and other electronic components, with a production capacity of 96 million products per year and an investment of US$3 million; and the Globe Farm Vietnam Co., Ltd.'s banana cultivation and export project, covering 200 hectares in Vien Thanh commune, Yen Thanh district. The Vietnam-Korea Marketing and Investment Consulting Center, run by individual investors (Mr. Nguyen Quang Huy and Mr. Choi Il Jung), is located on the 2nd floor of the Phuong Dong Hotel (Vinh City). In addition, there is the Cua Lo Beach Entertainment and Recreation Area project, with a capacity of 150,000 visitors per year; a total investment of US$0.25 million (currently in effect) and 5 projects in the textile and garment export sector/US$24.17 million.

Preparing goods for export to South Korea by Strongplus Elevator Company, Nghi Phu Industrial Park (Vinh City).

Regarding ODA funding, South Korea has one project that has been operating effectively: the Vietnam-Korea Vocational College of Technology, invested by the Korean government with a total investment of US$7.3 million. After 15 years of operation, the school has become a reputable vocational training institution, providing the labor market in Nghe An province in particular, and Vietnam in general, with 800-1,000 students with intermediate and advanced vocational training each year. 90% of graduates possess solid professional skills and find employment. In 2013, the Korean government also provided US$62,000 in ODA funding for the Hai Binh community cultural center project in Nghi Hai ward (Cua Lo town) through the Seoul International Friendship Organisations (SIFO) and the Korea Association of University Women (KAUW) - South Korea.

Pearl