RoK’s firm opens plant, research centre in Bắc Ninh

Samil CTS Vina Co Ltd of South Korea inaugurated a plant and a research and development (R&D) centre in the Yen Phong Industrial Park, northern Bac Ninh province on Friday.-Photo laodong.com.vn

The same day, representatives from the firm and the Việt Nam-Korea Technological Innovation Centre for Standards, Metrology and Quality (Incentech) under the Ministry of Science and Technology’s Directorate for Standards, Metrology and Quality signed a memorandum of understanding (MoU) on enhancing co-operation in the future.

Under the MoU, Incentech will support Samil CTS Vina in implementing its projects in Việt Nam. The two sides will work closely to develop products and expand market in other ASEAN nations.

Speaking at the signing ceremony, Deputy Director of the Directorate Nguyễn Nam Hải highlighted the significance of the events and increasing production and investment activities of RoK enterprises in Việt Nam in recent times.

He said that his agency and the Korea Trade-Investment Promotion Agency also signed a co-operation agreement two months ago with a view to supporting the implementation of the Việt Nam-RoK Free Trade Agreement (FTA), which was signed in 2015.

The formation of Incentech aims to promote trade co-operation between the two counties, he noted.

Co-operation between Incentrech and Samil CTS to set up the R&D centre will lay a foundation for the two sides to provide greater support for Vietnamese and Korean businesses, thus contributing to socio-economic development in the two nations, Hải stressed.

For his part, Commercial Attaché of the RoK Embassy in Việt Nam Choi Jong Won said the opening of the plant and R&D Incentech-Samil centre in Bắc Ninh will be the first steps for Samil CTS to enter into the Southeast Asian market.

The signing of Việt Nam-RoK FTA contributes to stepping up trade and economic connection between the two countries, he stressed, expressing his belief that R&D Incentech-Samil centre will serve as an economic and creative model, helping boost links between the two sides’ businesses.

Deputy head of the Department of Heavy Industry under the Ministry of Industry and Trade Phạm Anh Tuấn hoped Samil CTS’s plant in Bắc Ninh would help Việt Nam realise its goal of supporting industry development.

Việt Nam is now a strategic partnership of the RoK, with a number of Korean companies building plants in Việt Nam. RoK firms have invested US$485 billion in Việt Nam so far.