VietNamNews

PM promises optimal conditions for Korean investors

Update: February, 09/2018 - 10:59
Prime Minister Nguyễn Xuân Phúc (r) receives Chairman of the Hyosung Group Cho Hyun-joon in Hà Nội on February 8. — VNA/VNS Photo Thống Nhất

HÀ NỘI — The Government of Việt Nam always creates favourable conditions for Korean firms, including the Hyosung Group, to invest in the country, said Prime Minister Nguyễn Xuân Phúc. 

While receiving Chairman of the Hyosung Group Cho Hyun-joon in Hà Nội on February 8, PM Phúc agreed to soon organise a forum to attract more investors from the Republic of Korea (RoK) to Việt Nam, as suggested by Cho. 

He praised Hyosung as one of the biggest Korean investors in Việt Nam. The firm has operated many important projects in all three regions of the country. 

The PM suggested Hyosung join as a strategic investor of Việt Nam’s electricity transformer factory and urged the group to pay due attention to environmental protection when carrying out projects. 

Cho said the Hyosung Group is striving to bring its total investment in Việt Nam up to US$6 billion, adding that the group is planning to invest in numerous electricity projects, particularly by supplying high voltage power transformers which are sought after in the country. 

The group wants to partner with and transfer technologies to Vietnamese manufacturers of power transformers so as to make Việt Nam an exporter of the product, he said. 

Hyosung is a leading producer of all classes of power transformers, ranging up to 765kV in the RoK. Its products have been available in 70 countries and territories across the globe. — VNS