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Industrial zones in Vietnam, RoK cement ties

The Dung Quat Economic Zone Authority (DEZA) in Vietnam and the Korea Industrial Complex Corporation (KICOX) in Ulsan in the Republic of Korea (RoK) have signed a Memorandum of Understanding (MoU) on investment cooperation.
The Dung Quat Economic Zone Authority (DEZA) in Vietnam and the KoreaIndustrial Complex Corporation (KICOX) in Ulsan in the Republic ofKorea (RoK) have signed a Memorandum of Understanding (MoU) oninvestment cooperation.

The MoU was signed at ameeting between DEZA and a delegation from the Ulsan businesscommunity on Feb. 25 in the central province of Quang Ngai .

Under the deal, within two years, DEZA will enable KIKOX and otherbusinesses in Ulsan to invest in DEZA, especially inpetro-chemicals, shipbuilding, heavy manufacturing and vehicle assembly.

KIKOX is now responsible for providing information about DEZA to other RoK’s firms who are keen to invest there.

Both will work together to run courses in the Korean language as wellas engineering courses for Vietnamese workers who will be sent to workin Ulsan.

At present, DEZA had granted 111 businesspermits with registered investment of almost 8 billion USD. The 67 ofthese companies which are up and running already contributesignificantly to Quang Ngai province’s overall economic growth.-VNA
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