Binh Phuoc grants investment licenses to five RoK-projects (Source: VNA)Binh Phuoc (VNA) – A groundbreaking ceremony for five projects invested by businessesfrom the Republic of Korea was held on March 16 at Becamex – Binh Phuocindustrial and urban complex in Chon Thanh district, the southern province ofBinh Phuoc.
At the event,the provincial People’s Committee handed over investment licenses to the RoKcompanies - Hankuk Carbon, River Runs, Misung Industrial, Young Sung, HankukAdvanced Materials. These firms rent 111ha in the complex and have registeredto invest a total of 80 million USD in the projects which will produce carbonand glass fiber, and fishing tools.
Hankuk CarbonCEO Moon-Soo Cho vowed to ensure construction progress of the project onschedule and in line with the country’s law.
Vice Chairman ofthe provincial People’s Committee Huynh Anh Minh welcomed the Korean investors’selection of Binh Phuoc to build plants producing high-tech materials such ascarbon fiber.
He committed tocreating favourable conditions for the investors and requested them complete theprojects on schedule.
The Becamex –Binh Phuoc industrial and urban complex sits on a site of 4,633ha, nearly2,448ha of which is used for industrial areas and the remaining for residentialareas.
Spanning ChonThanh town and Nha Bich, Thanh Tam and Minh Thanh communes, the complex isinvested by the Investment and Industrial Development Corporation (Becamex IDC)at a total cost of 21 trillion VND (933 million USD), expecting to attractupwards 5 billion USD.
The RoK was the second largest foreigninvestor in Vietnam last year, just behind Japan, with total registered capitalof 8.49 billion USD.
In terms of accumulative investment, thecountry ranked first among 125 countries and territories investing in Vietnam,with total investment capital of 57.7 billion USD by the end of December2017.-VNA
VNA
