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Tuesday, November 29, 2022

S.Korean firm to break ground on clean industrial complex in northern Vietnam

The Saigon Times

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HCMC – The Korea Land and Housing Corporation (LH) will start work on a clean industrial complex in the northern province of Hung Yen on November 25.

The complex will cover an area of 1,431,000 square meters along the Hanoi-Haiphong Expressway, which links the Vietnamese capital city with Haiphong, the country’s largest port city.

The clean industrial complex will offer one-door services in administration, finance and tax to enterprises operating in the complex.

LH started surveying locations to build the complex in 2017 and finally chose Hung Yen as an appropriate one.

In July last year, the Seoul-based company got the green light from the Vietnamese Government to develop the project.

Two months later, Vietnam Korea Together, a joint venture of Vietnam and South Korea, was established to execute the project.

The construction of the project is slated for completion in September 2024.

Enterprises that seek to rent premises in the complex must be South Korean firms with their headquarters in South Korea. South Korean firms headquartered overseas can also rent premises in the complex, provided they have South Korean shareholders.

LH Corporation will equip the complex with convenient equipment to create favorable conditions for enterprises and employees.

Besides Hung Yen, LH is mulling over a plan to set up more South Korea-style industrial parks in other localities as well as other plans for smart city, social housing, and economic zone development in Vietnam.

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