HCMC – South Korean Phillips Group is exploring the opportunity to invest in an electric vehicle (EV) and EV battery manufacturing project in the northern province of Bac Ninh.
During a meeting with Bac Ninh authorities, Bang Seung Ho, chairman of Phillips Group, stated that the group is focusing on producing electric vehicles, electric vehicle batteries, and high-quality electric motorcycles, aiming to serve the domestic market and neighboring countries.
Recognizing the high potential and investment opportunities in Bac Ninh Province, the group plans to conduct a comprehensive assessment of the investment project for a manufacturing plant in the locality.
In return, Bac Ninh authorities emphasized their commitment to supporting and creating the most favorable conditions for businesses, including Phillips Group, to operate effectively and sustainably.
Bac Ninh is currently home to about 2,350 investment projects from 41 countries and territories. Among them, South Korea leads in terms of registered investment capital. South Korea is the province’s largest partner, with nearly 100 active projects having US$14.7 billion in registered capital, accounting for nearly 60% of the province’s total FDI capital.
