Ho Chi Minh City agencies inked cooperation documents with some of theleading groups of the Republic of Korea (RoK) on May 25 as part ofmunicipal officials’ working visit to the country, the Sai Gon Giaiphong (Liberated Saigon) daily newspaper reported.
Representatives of the HCM City Department of Planning and Investmentand the Lotte Group signed a memorandum of understanding (MoU) on theEco Smart City project. Lotte will invest some 2 billion USD in thisproject, located in the Thu Thiem new urban area.
Politburo member Le Thanh Hai, who is the Secretary of the HCM CityParty Committee, welcomed Lotte’s projects in Vietnam, including thosein the city, and noted the extensive relations between the twocountries. The two strategic cooperative partners recently signed abilateral free trade agreement targeting to lift their trade to 70billion USD by 2020.
He pledged optimal conditionsfor foreign investors while asking Lotte to create an Eco Smart Cityboth environmentally-friendly and harmonious with nearby buildings builtin the 20 th century.
Lotte Chairman Shin Dong-binsaid his group hopes for favourable conditions to commence the projecton September 2 this year.
The same day, SecretaryHai met with Lee Chae-wook, Vice Chairman of the CJ Group, whichspecialises in entertainment, food, biotechnology and transport.
Lee said his business will turn Vietnam into its third largest marketin the world, adding that the group plans to pour 500-600 million USDinto equitised State-owned enterprises, including the Vietnam MeatIndustries Co. Ltd (Vissan).
Hai presented thecity’s investment attraction policies and called for more contributionsfrom the CJ towards the growing ties between the two countries.
Following the meeting, representatives of the CJ signed three MoUswith those from the HCM City Investment and Trade Promotion Centre andthe CPK and Tien Phuoc companies.
At a separatemeeting, Hyosung Group Vice Chairman Lee Sang-woon said his firm plansto run several projects in Vietnam, including a water supply factory anda power plant in HCM City, while suggesting the municipality create atextile and garment industrial park so as to attract more RoK investors.
Le Thanh Hai said his city has high demand fortransport infrastructure, water supply, electricity, and wastetreatment; all areas that Hyosung specializes in. He asked the group tovisit HCM City to discuss potential cooperation.-VNA
Representatives of the HCM City Department of Planning and Investmentand the Lotte Group signed a memorandum of understanding (MoU) on theEco Smart City project. Lotte will invest some 2 billion USD in thisproject, located in the Thu Thiem new urban area.
Politburo member Le Thanh Hai, who is the Secretary of the HCM CityParty Committee, welcomed Lotte’s projects in Vietnam, including thosein the city, and noted the extensive relations between the twocountries. The two strategic cooperative partners recently signed abilateral free trade agreement targeting to lift their trade to 70billion USD by 2020.
He pledged optimal conditionsfor foreign investors while asking Lotte to create an Eco Smart Cityboth environmentally-friendly and harmonious with nearby buildings builtin the 20 th century.
Lotte Chairman Shin Dong-binsaid his group hopes for favourable conditions to commence the projecton September 2 this year.
The same day, SecretaryHai met with Lee Chae-wook, Vice Chairman of the CJ Group, whichspecialises in entertainment, food, biotechnology and transport.
Lee said his business will turn Vietnam into its third largest marketin the world, adding that the group plans to pour 500-600 million USDinto equitised State-owned enterprises, including the Vietnam MeatIndustries Co. Ltd (Vissan).
Hai presented thecity’s investment attraction policies and called for more contributionsfrom the CJ towards the growing ties between the two countries.
Following the meeting, representatives of the CJ signed three MoUswith those from the HCM City Investment and Trade Promotion Centre andthe CPK and Tien Phuoc companies.
At a separatemeeting, Hyosung Group Vice Chairman Lee Sang-woon said his firm plansto run several projects in Vietnam, including a water supply factory anda power plant in HCM City, while suggesting the municipality create atextile and garment industrial park so as to attract more RoK investors.
Le Thanh Hai said his city has high demand fortransport infrastructure, water supply, electricity, and wastetreatment; all areas that Hyosung specializes in. He asked the group tovisit HCM City to discuss potential cooperation.-VNA
