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South Korea still top investor in Dong Nai

From mid-2017, Korea surpassed Taiwan to become the leading country in 45 countries and territories investing in Dong Nai. Only in the last 3 years, Korean enterprises have invested in this province about 1.2 billion USD.


​According to the Department of Planning and Investment, the total registered capital from Korean enterprises to Dong Nai has so far reached nearly 6.3 billion USD. In which, the field of “pouring” much capital is industrial production.

 

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 Production of export footwear at Taekwang Vina Industrial Co., Ltd in Bien Hoa Industrial Zone 2 (Bien Hoa City).
Investing capital in industry

 
Nationally, Korea is also holding the leading position in investment capital in Vietnam with about 64 billion USD. Dong Nai is one of the 3 cities and provinces invested most by capital in this country. Most Korean enterprises rent land in industrial parks, build factories, produce export goods and some products are consumed in the domestic market. Their investment industries are quite diversified, including: production of textile fibers, textiles, footwear, electronics, electric machines, machinery and equipment components…
 
The majority of Dong Nai's "big men" in footwear, fiber and machinery industries fall into big names from Korea such as Chang Shin, Taekwang Vina, Hyosung, Woosung Vina, Dongshin Vietnam, Dongwon Textile Vietnam.
 
Mr. Lee Hyung Jin, Deputy General Director of Taekwang Vina Industrial Joint Stock Company in Bien Hoa Industrial Zone 2 (Bien Hoa City) said: “Currently, the company specializes in manufacturing sports shoes for Nike brand with the quantity of 3 million pairs/month. Nike's orders for Taekwang Vina increase steadily every year, so the company constantly has to recruit more workers to expand production”.
 
Taekwang Vina is a large shoe manufacturing and exporting enterprise of Dong Nai as well as the whole country. Currently, the investment capital of Taekwang Vina Group enters the province for its own footwear production of about USD 150 million and creates jobs for more than 15,000 workers. Recently, Chang Shin Group has also increased the capital of 100 million USD to build a sports shoe factory in Tan Phu Industrial Park (Tan Phu district), bringing the total capital to Dong Nai to over 230 million USD.
 
Mr. Lim Jae-hoon, South Korean Consul General in Ho Chi Minh City assessed that the investment environment of Dong Nai is quite favorable, so many Korean enterprises choose Dong Nai as their destination. Most of Korea's major corporations in industrial production are present in Dong Nai very early such as: Samsung, LG, Hyosung, Chang Shin, Dongwon Textile Vietnam. The field of Korean enterprises investing in the province are all in the industry which are prioritizing to attract supporting industry with high and e-co friendly technologies.
 

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With the attraction from major transport infrastructure projects such as Long Thanh International Airport, Ben Luc - Long Thanh Expressway, Dau Giay - Lien Khuong Expressway...In the future, Dong Nai will continue to be the destination of Korean investors in the industrial sector and other fields such as technical infrastructure, real estate, agriculture and tourism...
 
Mr. Chang Ho Ick, General Director of Dongwon Group (Korea) said: “In addition to investing in industrial production in Dong Nai, the group is also researching to invest in real estate and tourism. These are two areas where Dong Nai has a lot of potential for exploitation and development”. Since the beginning of the year, many Korean enterprises have come to the province to study policies and environment with the intention of "pouring" capital into many different industries.
 
Mr. Park Seong Ho, Acting Governor of Gyeongsangnam Province said: “The enterprises of Gyeongsangnam to Dong Nai opened their factories early and operated relatively effectively. Currently, businesses have increased capital by 2-4 times compared to the original to increase their capacity. Gyeongsangnam is an industrial zone with outstanding industries such as automobile production, machinery and equipment, shipbuilding and aviation equipment… In the near future, there will be many enterprises in this province continue to come to Dong Nai to invest in high-tech industry and agriculture.
 
Mr. Park Seong Ho said that in recent years, Dong Nai has regularly organized investment promotion in Gyeongsangnam and South Korea so that the enterprises of this country know more about Dong Nai. In addition, large corporations of this country have placed their "headquarters" in Dong Nai very successfully like: Taekwang Vina, Chang Shin, Samsung, Dongwon Textile Vietnam…It also makes Korean companies feel more secure when choosing the province as the destination.
 
Chairman of the provincial People's Committee, Mr. Dinh Quoc Thai affirmed that the provincial government always accompanies with enterprises, all difficulties will be promptly removed because when businesses work well, that means they will contribute to the province's development. Therefore, all difficulties and obstacles of businesses can contact directly with the Management Board of Dong Nai Industrial Zones, Department of Planning and Investment or provincial leaders to be quickly resolved.
 

Huong Giang

 

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