*Provincial Party Committee Secretary receives Kolon Industries Chairman
Kolon Industries from the Republic of Korea (RoK) yesterday signed a memorandum of understanding (MoU) on its US$1-million project at the Bau Bang Industrial Park (IP) with provincial People’s Committee.
Provincial leaders take a souvenir photograph with Rok’s Kolon Industries
Attending the event were Tran Van Nam, member of the Party Central Committee, Secretary of provincial Party Committee; Tran Thanh Liem, Vice-Secretary of provincial Party Committee, Chairman of provincial People’s Committee; Nguyen Van Hung, member of provincial Party Standing Committee, CEO of Becamex IDC; Lee Woong Yeul, Chairman of Kolon Industries together with leaders of sectors, departments, two districts Bau Bang and Dau Tieng.
Kolon Industries is one of the RoK’s leading multi-sector and trans-national firms. Its major products include automobile tire cords, airbags, film and electronic materials…
For market expansion, the RoK group has selected the Bau Bang IP to locate its US$1-million automobile tire cord and airbag factory. It will pour US$220 million into the project in the first stage.
Under the MoU, Kolon Industries will implement the project at the expanded Bau Bang IP with total investment capital of more than US$600million for the two first phases till 2026.
Speaking at the signing ceremony, Mr. Liem applauded the ROK group’s investment project and believed that it will work effectively. He also affirmed that the province will further boost administrative reform, focus on hi-quality services at enterprises’ demand for production-business and the local demand for urban development, ensure political security, social order and safety, facilitating enterprises’ development.
At the ceremony, Becamex IDC and Kolon Industries announced a deal to lease 42 hectares for the construction of the plant at the Bau Bang IP.
*The same day, Tran Van Nam, member of the Party Central Committee, Secretary of provincial Party Committee, Head of provincial NA delegation received Lee Woong Yeul, Chairman of Kolon Industries.
At the reception, Mr.Nam briefly introduced the province’s socio-economic development while affirming that Binh Duong has always listened to investors and supported them. In the coming time, the province will further bend on infrastructure, workforce development and administrative reform. Becamex IDC, the owner of the Bau Bang IP will create favorable conditions for Kolon Industries to work effectively and wants that the RoK group will help popularize Binh Duong’s investment climate to other many RoK investors.
Chairman of the RoK group also affirmed and believed that selecting Binh Duong to implement its project is exact and is sure to be success.
Reported by Phuong Le-Translated by K.T
