The ceremony was organised by the People’s Committee of the northern province of Bac Ninh along with the Republic of Korea’s IGS group. The new zone will involve investment
capital of US$240 million.
Covering an area of 602.5ha in Nam Son-Hap Linh Commune, Tien Du District, IGS Industrial Park will house approximately 300 manufacturing facilities, and will feature a 200ha area devoted to auxiliary facilities such as a sales complex, exhibition hall, hospital, housing, hotel, park, golf course and schools to satisfy the needs of expatriates, visitors, workers and provincial residents. According to the group, the park will be an attractive investment for firms from Korea, the USA, and other nations wishing to set up a manufacturing presence in Viet Nam.
“Despite the economic turmoil plaguing the world economy today, IGS expects the zone will draw about $2 billion in foreign investment and create between 50,000 and 100,000 jobs for provincial workers, contributing to bettering the economic and social prospects of the province,” said the group’s Chief Executive Officer, Do Jin Ji.
Do Jin Ji added that IGS decided invest in Viet Nam because of the cheap labour force and natural resources, which enhance the competitive ability of the firm especially when the world economy is in crisis.
“The Korean private sector has continued to boost its foreign direct investment into Viet Nam, making Korea one of the six major trading partners of Viet Nam,” said the chair of the Ministry of Commerce, Industry and Energy of the Korean National Assembly, Jung Jang-Seon.
