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Hai Phong – ideal city for production, business: RoK firms

Enterprises from the Republic of Korea (RoK) have shared their view that the northern port city of Hai Phong is an ideal destination for production and business.

Speaking on behalf of the Korean firms operating in Hai Phong, Suk Myung Su, General director of Vietnam LG Display Co, Ltd, Hai Phong said at a meeting hosted by the Hai Phong Economic Zone Authority (HEZA) on December 13 that the city should invest more in infrastructure and pay more attention to renewable energy.

Chairman of the municipal People’s Committee Nguyen Van Tung lauded contributions of the Korean firms and investors to local socio-economic development, and called on them to expand operations, step up research and development activities, and help the city improve its workforce quality.  

He said he hopes that the enterprises will support Hai Phong in attracting more investors from the RoK, especially those specialising in the support industry to form production ecosystems in the city.

According to the HEZA, the RoK is running 178 projects in Hai Phong, making up 21% of the total FDI projects in the locality, with a total investment capital of 9.7 billion USD, or 39.6% of the accumulative FDI.

The RoK ranks first in terms of both project number and investment capital at industrial and economic parks in Hai Phong with 106 projects worth 8.65 billion USD. In the first 10 months of this year, the firms contributed 2.68 trillion VND (113.43 million USD) to the Vietnamese State budget.

The Korean enterprises employ 40,940 labourers, of whom 39,230 are Vietnamese./.