S Korea's Jeil E&C to invest $35 mln in southern Vietnam high-tech logistics project
Jeil E&C, a major South Korean construction-real estate business, will invest $35.4 million in a high-tech logistics project in Dong Nai province - an industrial hub in southern Vietnam.
Nguyen Hong Linh, a Central Party Committee member and chief of Dong Nai Party Committee, granted the investment certificate to Jeil E&C in Seoul on Tuesday. The granting ceremony was part of a South Korea visit by Dong Nai authorities led by Linh.
Nguyen Hong Linh (left), a Central Party Committee member and Secretary of Dong Nai Party Committee, grants an investment certificate to a Jeil E&C executive in Seoul, April 30, 2024. Photo courtesy of Dong Nai newspaper.
Jeil E&C’s project will cover over four hectares in Long Thanh high-tech park. The project is set to meet the high demand for warehouses among retailers and e-commerce businesses, in the context that the mega Long Thanh International Airport is under construction in the province.
Speaking at the event, Dong Nai Vice Chairwoman Nguyen Thi Hoang affirmed that local authorities would provide the best conditions for the investor to implement the project.
Dong Nai has so far attracted foreign direct investment (FDI) of over $34.65 billion, among the top recipients in Vietnam. South Korea is the biggest FDI source for Dong Nai with 42 projects and registered capital of $7.26 billion, according to the provincial Department of Planning and Investment.
South Korea’s investments in Dong Nai province focus on footwear, fiber-weaving, wooden products, electronics, and apparel-textiles.
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