Hai Phong introduces investment opportunities to RoK firms

The Hai Phong Economic Zone Authority (HEZA) on August 10 organised an investment promotion with supporting businesses of the Republic of Korea’s multinational conglomerate corporation LG.
Hai Phong introduces investment opportunities to RoK firms
Hai Phong introduces investment opportunities to RoK firms. (Photo: VNA)

The RoK participants expressed their wish to invest or expand their current investment in the northern port city.

Head of the HEZA management board Le Trung Kien introduced to investors Hai Phong’s advantages, including the largest deep-water port in the north, a direct flight route to the RoK’s Incheon international airport, and the education of the Korean language at school.

The local economic zones currently house 102 RoK-funded projects worth 8.53 billion USD, accounting for 88.4% of capital channeled into the city by Korean investors. In the past sevent months, RoK businesses in Hai Phong saw their revenue and number of labourers growing by nearly 20% and 15%, respectively.

LG has so far invested in seven projects worth 7.24 billion USD in the Trang Due industrial park in An Duong district. A network of local satellite projects and auxiliary production for LG has also been formed with more than 50 enterprises, which have injected close to 1 billion USD into the industrial park.

HEZA wished LG to further enhance its investment and production activities, focus on research and development (R&D), technology transfer, and high-quality human resources training.

It suggested the group establish a R&D centre in the city.

It also unveiled the city’s growth orientations for the time to come that highlight circular economy, renewable energy, and a high-quality workforce.

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(Source: VNA)