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RoK firms to invest into Tay Ninh IPs mainly in garment textile sector

YarnsandFibers News Bureau 2015-01-29 12:00:00 – Vietnam

The southern province of Tay Ninh is taking maximum efforts to attract investments to its textiles and support industries in a bid to boost the province’s economy and promote these sectors. In response to their efforts, a delegation of 12 garment-textile businesses from the Republic of Korea (RoK) on January 27 had a working session with authorities of southern Tay Ninh province to explore the investment climate at local industrial parks.

Vice Chairman of the provincial People’s Committee Huynh Van Quang welcomed RoK businesses to invest in Tay Ninh province, particularly in the garment-textile sector. The RoK businesses were briefed on investment opportunities, incentives and regulations at the Thanh Thanh Cong and Phuoc Dong-Boi Loi industrial parks in Trang Bang and Go Dau districts, respectively.

Speaking at the working session, Chief executive officer of the Kofoti garment-textile company Kim Nam Young revealed that 620 Korean businesses are investing in Vietnam with a total capital of over US$13 billion.

Located nearly 67 km from Saigon and Cat Lai ports and 44km from Tan Son Nhat International Airport, the 760ha Thanh Thanh Cong boasts transport advantages in both road and waterway. So far, it has attracted 13 foreign direct investment projects worth US$118.78 million and eight domestic ones worth VND650 billion (US$30.2 million). It has also built a system supplying 37,000 cu.m of clean water and another treating 22,000 cu.m of sewage per day.

Meanwhile, the Phuoc Dong – Boi Loi park has so far drew a total of 17 investment projects worth US$1.5 billion, including 15 run by foreign firms.

A system being able to treat 5,000 cu.m of sewage per day has also been built here.

In the coming time, RoK apparel enterprises will increase investment in the Southeast Asian country, which have abundant and skilled workforce.

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