RoK firm seeks investment opportunities in Ha Nam

Wednesday, 2016-03-16 17:39:09
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The Dong Van Industrial Zone in Ha Nam province.
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NDO – Kolon Industries Group from the Republic of Korea (RoK) held a working session with northern Ha Nam province’s authorities on March 16 to set up a US$200 million plant producing industrial textiles for automobile tyres in the Chau Son Industrial Park in Phu Ly city.

At the meeting, a senior official from Kolon Industries said that the group is among one of the largest conglomerates in the RoK with revenues of approximately US$100 billion a year. In addition to manufacturing plants in the country, the company has built factories in China, Indonesia and Mexico. The group developed projects in Vietnam’s southern region 30 years ago.

Kolon Industries plans to expand investment in the northern region, with construction of a 30 ha plant manufacturing industrial textiles for automobile tyres. The group expressed a desire for information support as well as preferential policies from Ha Nam during the field trip to make decisions on its investment.

Vice Chairman of the provincial People’s Committee Pham Sy Loi introduced the province’s potentials in terms of geographic location, developed infrastructure, human resources, and in particular the local investment attraction policy. The province also offers free land for investors to build housing for workers.

He mentioned potential partners for the RoK group, saying that the Sao Vang Rubber Joint Stock Company plans to move its factory from Hanoi to Chau Son Industrial Park in Phu Ly city.

In 2015, industrial parks in the province attracted 39 projects, 28 of which were foreign invested, with a combined registered investment of US$391 million.

To date, local industrial parks are home to 230 active projects. Of this figure, 131 were foreign direct invested, with a total registered capital of US$1.3 billion.

Meanwhile, the remaining 99 domestic projects have a total registered capital of nearly VND10 trillion (US$455 million).

Currently, the province has eight industrial parks that cover an area of 2,000 ha. The industrial park Dong Van III, which is under construction and geared towards the supporting industry, will apply its own mechanisms and policies. The locality has approved plans for 18 industrial clusters, spread over an area of nearly 500 ha.