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

• July 28, 2017 19:26

(Baonghean.vn) – Right after the news that KOVINET (Korea) invested 1,500 billion VND in developing an Industrial Park in Nghe An, many people were curious to find out which unit or corporation made such a bold decision (?!).

Đại diện KOVINET khảo sát thực tế tại khu vực quy hoạch KCN Hoàng Mai 2- Nghệ An. Ảnh Văn Nam
KOVINET representative conducts a field survey at the planning area of ​​Hoang Mai 2 Industrial Park - Nghe An. Photo: Van Nam

Many people have searched about KOVINET via “google” but did not get all the information they wanted.

According to the Nghe An Province Investment Promotion and Support Center, KOVINET is a newly formed corporation in Korea, basically it is the "Association of Korean Smart Enterprises" with about 500 members, with strengths in strategic industries in the fields of: Renewable energy, LED technology, wind power, electronic components, textiles and garments, information technology, two-wheeled electric vehicles, food production...

Mr. Nguyen Van Nam - Deputy Director of Nghe An Province Investment Support and Promotion Center added: This is the partner that Nghe An province met directly in Korea during the province's investment promotion trip at the end of 2016. Immediately after that, Chairman Soon Jae Sell himself went to Vietnam to Nghe An to learn about investment and sign a memorandum of understanding.

Phác thảo quy hoạch Khu CN Hoàng Mai 2 của Tập đoàn KOVINET. Ảnh: NS
Sketch of planning for Hoang Mai 2 Industrial Park of KOVINET Group. Photo: NS

After returning to Korea to discuss 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) with an area of ​​343 hectares (5 times larger than previously planned). The agreement was signed between the Provincial People's Committee and KOVINET, the two sides agreed to accelerate investment in Hoang Mai 2 IP, expected to start construction at the end of 2017.

KOVINET's investment method is through the Korean Business Association, deciding to invest in infrastructure for each small and medium-sized enterprise registered at Hoang Mai 2 Industrial Park. Accordingly, it is expected that about 350 Korean enterprises will invest in Hoang Mai 2 Industrial Park.

KOVINET's approach is different from Hemaraj Group and VSIP joint venture that previously invested in Nghe An. Because Hemaraj and VSIP built all the infrastructure, factories, warehouses... and then called for businesses to invest. Meanwhile, KOVINET had a prior agreement with the Korean Business Association and then proceeded to fill up the industrial park.

KOVINET also plans to build Hoang Mai 2 Industrial Park into the first Korean smart industrial park in Vietnam. From here, Korean enterprises will connect and spread industry to Laos, Cambodia, Myanmar, and Thailand.

» KOVINET (Korea) invests 1,500 billion VND in Hoang Mai 2 Industrial Park

» Korean enterprises explore investment in solar power park in Nghe An

Nguyen Nguyen

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