Dong Soc Industrial Cluster Welcomes US$880-Mln South Korean Factory

Recently, the Vinh Tuong District People’s Committee, Vinh Phuc province held a signing ceremony of an agreement in principle to sublease land-use rights and infrastructure in Dong Soc Industrial Cluster between Vinh Phuc Investment and Trading Company (VPCo) with two South Korea partners, Interflex Group and Yong Poong Group.

According to the agreement, Interflex and Yong Poong will rent 13 hectares of land in Dong Soc Industrial Cluster for a period of 50 years to invest in an electronic component factory that costs US$880 million. In December, the two firms will officially commence construction of the factory and put it into operation from August 2020. Interflex, owned by four South Korean firms, manufactures and trades in various industries and fields, with a particular strength of electronic parts manufacturing. Interflex also manufactures electronic components for Apple and Samsung, two consumer electronics giants.

Speaking at the signing ceremony, Chairman of Vinh Phuc Provincial People’s Committee Nguyen Van Tri highly appreciated the efforts of district authorities and the support of local people for Dong Soc Industrial Cluster. He requested relevant departments and agencies to provide favorable conditions and remove difficulties and obstacles for investors to complete building the industrial cluster infrastructure.

Nguyet Tham