S Korean firm Dentium to invest additional $177 mln in central Vietnam hi-tech park
South Korean medical equipment manufacturer Dentium Co., Ltd. will invest $177 million in building its third factory at the Danang Hi-Tech Park in the eponymous central city.
Danang Hi-Tech Park, central Vietnam. Photo by The Investor/Thanh Van.
The new factory, ICT VINA III, received an in-principle approval from the Danang Hi-Tech Park and Industrial Zones Authority (DHPIZA) Thursday.
DHPIZA head Vu Quang Hung said the latest significant investment has taken the total registered foreign direct investment (FDI) in the industrial park to 13 projects worth $875 million.
ICT VINA III will be treated as a priority project in Danang’s master plan for hi-tech park development, he added. With Dentium's robust financial capacity and technological expertise, the project was expected to meet its deadlines and function effectively, Hung said.
Dentium said this was its third factory in the Danang Hi-Tech Park, following the $20 million ICT VINA approved in 2018 and $60 million ICT VINA II greenlighted in 2020, taking its total investment to $257 million.
The company said it will promptly carry out investment procedures and work to put the project into operation on schedule.
It will also strive to attract many high-tech experts, both Vietnamese and international, to Danang, and carry out training activities to enhance professional capacity, contributing to the advancement of scientific research in the city.
Before ICT VINA III, the DHPIZA licenced four new projects this year – two FDI and two domestic - worth $178.5 million and VND810 billion ($31.96 million), respectively.
So far, the city has attracted 521 projects to its hi-tech park and industrial zones. These include 396 domestic projects with a combined investment of VND33.88 trillion ($1.34 billion) and 125 FDI ones valued at $2.22 billion.
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