Business

Korean firm to invest in Quang Nam IP

The Republic of Korea’s firm C&N VINA Tam Anh will start construction of its first industrial park (IP) in Tam An commune in the central province later this month, officials said.
Korean firm to invest in Quang Nam IP ảnh 1The Chu Lai Open Economic Zone (Source: Internet)

Da Nang (VNA) – The Republic of Korea’s firm C&N VINA Tam Anh will start construction of its first industrial park (IP) in Tam An commune in the central province later this month, officials said.

Director of Chu Lai Open Economic Zone Authority (EZA) Do Xuan Dien confirmed to Vietnam News that the IP has been designed to encourage investment flows from the Republic of Korea (RoK).

He said the RoK firm will begin the first stage of construction on 200ha, with a total investment of 25 million USD for infrastructure development, and this phase will be completed in 2017.

"We will create favourable conditions for investors to boost the infrastructure development process of the IP, which will host investors from 2017," Dien said.

He said the EZA had started granting investment licenses to investors in April.

The RoK firm developed the 192ha Minh Hung– RoK IP in southern Binh Phuoc province and the first stage of the Phong Dien IP on 126ha of land in Thua Thien-Hue province.

The company has been seeking further investment in infrastructure in IPs in the Dong Nai and Long provinces.

The 32,400ha Chu Lai Open EZA has 109 investment projects, of which 29 are FDI projects, with a combined registered capital of more than 1.52 billion USD. Sixty-six projects, worth more than 837 million USD, are in operation, creating 12,000 jobs for the local people.

The zone has drawn 252.47 million USD in FDI projects.

Chu Lai EZA, one of five coastal economic zones in the country, in cooperation with the Korean Textile Association, has attracted investments from the textile and tourism industries in RoK.

The zone also plans to open sea routes from Ky Ha to Busan, Hong Kong and Singapore in 2016-17 and to upgrade Chu Lai Airport to allow more international flights.-VNA

VNA
#Chu Lai Open Economic Zone #Quang Nam #Korean firm #C&N VINA #coastal economic zones Korea (RoK)
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