According to the Foreign Investment Agency
(Ministry of Planning and Investment), nearly 4.4 billion USD has been invested
by Korean businesses in the Central Region and Highlands so far.
In mid-December 2020, LG
Electronics (Korea) put LG VS Research Center into operation at DITP building –
Trung Nam Land (Da Nang). This is the third center in Vietnam that LG has
established, after the centers in Hanoi and Ho Chi Minh City.
According to Vice Chairman of
Da Nang City People’s Committee, recently, the city has received the attention
of Korean businesses and investors. The most recent is the ICT Vina II medical
equipment factory project of ICT Vina Company in Da Nang Hi-Tech Park, with a
total investment of 60 million USD. This is one of the typical foreign direct
investment (FDI) projects of Korean investors in the Central Region – Highlands
of Vietnam.
According to the director of
the Korea Trade-Investment Promotion Agency (Kotra) in Da Nang, in previous
years, Korean businesses were interested in investing in the tourism sector in
Da Nang, but in recent years, they pay much attention to the field of
processing, manufacturing and outsourcing technology.
In Da Nang, as of November
2020, Korea is the foreign investor with the most number of projects, with 232
projects, total registered capital of 376 million USD, focusing in the fields
of services, real estate, industrial production and information technology.
In fact, in terms of FDI
inflows from Korea in the Central Region, it must be mentioned the appearance
of the Doosan Vina brand in Dung Quat Economic Zone (Quang Ngai). This is the
first FDI enterprise, also the most successful enterprise today in the heavy
industry sector in Quang Ngai.
With the estimated revenue of
200 million USD/year, Doosan Vina makes a great contribution to the budget
revenue and enhances the export value of Quang Ngai. Doosan Vina is creating
jobs for about 2,000 employees, of which over 85% are Quang Ngai citizen.
Binh Dinh is also a locality
that has been interested by Korean businesses recently. According to the Center
for Investment Promotion of Binh Dinh Province, the projects coming from Korean
investors are the 70 million USD solar power projects invested by QN Korea
Energy Company; Project of high-tech pork farm of New Hop Livestock Company
Limited, invested nearly 5 million USD; Wesbrook Vietnam wood processing
factory project, invested USD 2.5 million…
In the Central Region –
Highlands of Vietnam, in the first 9 months of 2020, Korea is the leading
partner in terms of total registered capital in the region, reaching 79.41
million USD with 23 new projects, focusing on processing sectors,
manufacturing, technological expertise, accommodation and catering services.
Accumulated to date, Korea is
second only to Singapore in this area. Korean enterprises are present in most
of the strong sectors and fields of localities such as heavy industry, real
estate, tourism, textiles, manufacturing, processing and investment in
industrial zone infrastructure.
With the potentials of
strategic location, natural resources, abundant human resources, an
increasingly complete infrastructure system, the advantage of developing
tourism real estate with a series of cultural heritages, long and beautiful
coastlines… Combined with new strengths such as trade and investment
agreements, breakthrough investment incentive mechanisms and policies, many
provinces in the Central Region – Highlands are becoming trust and safety
investment destinations of foreign investors, especially Korean businesses.
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