The six investment certificates were issued by Dung Quat Economic Zone (EZ) Management Authority and presented to the company representatives at a ceremony at Doosan Heavy Industries Vietnam’s high-tech industrial complex in the central province of Quang Ngai on July 25, 2018.
|Park Hong Ook (second from right), Doosan Vina’s CEO, with the South Korean representatives |
The six new Korean firms that will invest in Quang Ngai include Kwang Jin Vietnam, Samshin Valve Vina Co., Ltd., Wookwang Vietnam Co., Ltd., Yoobong Vina Co., Ltd., Hanbit P&L Vina Co., Ltd., and Nasan Electric Industries Co., Ltd.
The six companies will pour $11 million into their six factories that will take up a total of 65,022sq.m in Dung Quat EZ in Binh Son District's Binh Thuan commune.
The factories will be begin construction in August this year. Once put into operation, they will provide packing and logistics services as well as manufacture electrical components, industrial valves, hangers, braces, struts, pipe supports, and tubes and fining needed for HRSG projects. The projects will create several hundred new jobs in Dung Quat Economic Zone over the next couple years as result of their expansion.
Compatriot Doosan Vina that also has a project in Dung Quat EZ, has been playing a key role in introducing the Korean partners to investment opportunities in the province, bringing them to the negotiating table, and striking a mutually beneficial deal.
This effort by Doosan to further help economic development in Vietnam began in 2017 and the company will continue to offer advice and support to the six new businesses to assist them in their initial stages of operation.
Park Hong Ook, Doosan Vina's CEO and general director, said: “Since commencing operations in 2009, Doosan Vina has worked closely with the leadership of Dung Quat EZ and Quang Ngai province to help attract additional investment to the province. Facilitating these six Korean enterprises is especially meaningful because we have been able to bring everyone together on this project, which will be another positive factor in Quang Ngai’s continuing growth and development."
Speaking at the ceremony, Nguyen Han Phong, deputy director of Dung Quat Economic Zone Management Authority, thanked Doosan Vina for its efforts in landing these investment deals as well as its efforts in improving the quality of life for the people of Quang Ngai through steady employment, development of Vietnam’s mechanical sector and its extensive CSR programmes.
Doosan Vina is a high-tech industrial complex in Dung Quat EZ of Central Vietnam’s Quang Ngai province, employing 2,000 Vietnamese workers. The company supplies the mega infrastructure products that make modern life a reality.
Doosan Vina’s products include boilers for thermal power plants, desalination plants the size of a football pitch that turn sea water into fresh water, Material Handling Systems like cranes that are the heart of logistics at ports around the world, and structural steel for buildings and infrastructure development. To date, the company has exported products valued at $2.4 billion.
Doosan Group is a global multinational focusing on power, water, and other infrastructure developments. The company is headquartered in Seoul, South Korea and has operations in 38 countries, with over 42,600 employees and $22 billion in annual revenue.