According to Yonhap News,
(SEOUL=Yonhap News) KOTRA announced that it held a Quang Ngai IR session at its head office in Seoul on July 16.
Quang Ngai is situated at the central Vietnam, 140 km south of Da Nang, has 1.3 million population in the area of 5,000 ㎢, a half of Gyeonggi province.
The event was organized jointly with Quang Ngai, and prepared to introduce investment environment of Vietnam's central region, which was received less Korean companies than southern or northern provinces such as Ho Chi Minh and Hanoi.
In particular, it was set up in the form of "pinpoint" seminar to support investment by both large corporations and SMEs by inviting local boiler, shipping and freshwater equipment industries in which Doosan Heavy Industries & Construction is already doing business, and interested companies.
Le Viet Chu, provincial party secretary and officials from Quang Ngai explained investment environment and incentives.
Quang Ngai proposed relatively inexpensive land cost, about a third of industrial sites in Ho Chi Minh and Hanoi, higher portion of workers completed vocational training courses, and corporate tax cuts.
In particular, it has four industrial complexes, and 18 industrial clusters, reminding Ulsan-Pohang heavy chemical industrial belt, with the headquarters of Petro Vietnam, the largest oil company and Hoa Phat, the largest steel company located.
Korean companies have invested about USD 590 million (KRW 695.6 billion) in Quang Ngai up to date.
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Source: Yonhap News (July 16, 2019)
** This article was translated from Korean.