RoK firms funnel 12 billion USD into Viglacera’s industrial parks

September 08, 2023 | 16:54

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Industrial parks developed by state-owned Viglacera Corp have attracted 12 billion USD in investment from more than 100 enterprises from the Republic of Korea (RoK).

RoK firms funnel 12 billion USD into Viglacera’s industrial parks

Tien Hai Industrial Park in Thai Binh province (Photo: VNA)

Hanoi – Industrial parks developed by state-owned Viglacera Corp have attracted 12 billion USD in investment from more than 100 enterprises from the Republic of Korea (RoK).

With sound technical infrastructure and services, the parks have won favour among reputable businesses such as Samsung, Amkor, Hyosung, Kortek, and Anam Electronics.

Chairman of the Korea Chamber of Business in Vietnam Hong Sun said he will work closely with Viglacera to promote investment in the latter’s industrial parks.

This year, Viglacera will attract investments specifically to Tien Hai Industrial Park (Thai Binh province), Phong Dien Industrial Park (Thua Thien – Hue province), and Thuan Thanh 1 Industrial Park (Bac Ninh province), where infrastructure has been developed in a uniform and modern fashion.

The Corp has invested in 11 industrial parks in Vietnam and one economic zone in Cuba, which all have lured 16 billion USD in FDI from more than 300 domestic and foreign enterprises.

The number of Viglacera industrial parks is expected to increase to 20 by 2025.

The RoK has become an increasingly important partner of Vietnam as its investments meet the Southeast Asian country’s development strategy.

Investment from the RoK in Vietnam is expected to accelerate in the near future, including many large-scale projects worth up to billions of US dollars as a series of memorandums of understanding (MoUs) on cooperation between the two countries' ministries, sectors, and businesses was signed at the Vietnam - RoK Business Forum that took place in June within the framerwork of the state visit to Vietnam by the RoK’s President Yoon Suk Yeo.

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