Viglacera Land Company, the investor of Yen Phong Industrial Park (IP) in northern Bac Ninh province, said that seven South Korean investors will carry out projects totaling VND1 trillion (US$60 million) in the IP, state media said.
The seven investors will hire 250,000 square meters to build factories in the areas of equipment manufacturing and hi-tech electronic components under a contract inked with Viglacera Land March 06.
Once operational, the projects are expected to create over 2,000 jobs and contribute to around VND7 trillion to the state budget.
The South Korean companies Alpha, Samyong, Flexcom Vietnam, Seoul, Em-Tech Vietnam, Deahoo Man Machine and Interface Vietnam.
Viglacera Land said around 70 per cent of Yen Phong IP’s area has been filled, adding that the park is attracting great attention of foreign investors.
Separately, the Ministry of Planning and Investment said it will soon license South Korea’s Samsung to invest US$650 million in producing electronic parts and components in Yen Phong IP.
Currently, Bac Ninh has four operational IPs, namely Tien Son, Que Vo, Dai Dong-Hoan Son, and Yen Phong.
The province has to date attracted 110 foreign-invested projects worth around US$1.04 billion, standing in the country’s top ten cities and provinces in luring foreign investors.
(Vietnam& World Economy, Vietnam Economic Times)
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