SK Group Considers Expanding Investment in Vinh Phuc

Mr. Tran Duy Dong, Chairman of the Provincial People's Committee of Vinh Phuc, recently hosted a working meeting with Mr. Han Sung Won, CEO of SK Group of Korea in Vietnam. The meeting was also attended by leaders of relevant agencies.

Chairman of Vinh Phuc Provincial People's Committee Tran Duy Dong (left) at the meeting with Mr. Han Sung Won, CEO of SK Group

Dong said, South Korea is currently the largest foreign investor in Vinh Phuc province with more than 200 companies that have registered to invest a total of more than US$3 billion. Currently, Vinh Phuc province is giving priority to attracting high-tech industry, semiconductor industry, electric and electronics industry, industrial park infrastructure, urban infrastructure, commercial centers, hotels, housing and tourism services. He hoped that, as the third largest multinational conglomerate in South Korea, SK Group will continue to research and choose Vinh Phuc as its first direct investment destination in Vietnam.

While highly appreciating the investment environment in Vinh Phuc, especially its business support policies, CEO Han Sung Won also presented some difficulties in expanding investment and recruiting personnel for the Group’s investment project at ISCVina Manufacturing Co., Ltd. He hoped that Vinh Phuc Provincial People's Committee will continue to accompany and facilitate the group to expand its investment in Vinh Phuc. He also invited Chairman Tran Duy Dong to pay a working visit to ISCVina Manufacturing Co., Ltd.

To help SK Group understand the investment environment in Vinh Phuc, Chairman Dong tasked the Vinh Phuc Industrial Zones Management Board with coordinating information on provincial investment policies. He also pledged to visit ISCVina Manufacturing Co., Ltd soon and instructed the Industrial Zones Management Board and the Department of Labor, Invalids and Social Affairs to assist SK Group in overcoming challenges related to investment expansion and worker recruitment.

SK Group manufactures and trades chemicals, telecom, oil and gas and energy. In Vietnam, the group is currently an important shareholder of many giant corporations such as Vingroup and Masan. SK Group recently acquired stakes in ISCVina Manufacturing Co., Ltd that manufactures and trades semiconductors in Ba Thien II Industrial Park (Binh Xuyen) with a total investment of US$300 million.

By Tran Trang, Vietnam Business Forum