Recently, Mr. Nguyen Van Tho, Chairman of the Provincial People’s Committee received and worked with the delegation of Hyosung Vietnam Co., Ltd. and Hyosung Vina Chemical Co., Ltd. to exchange some contents related to the implementation of projects in Ba Ria-Vung Tau province.

At the meeting, the representative of Hyosung Vietnam Co., Ltd. said that it is expected that Hyosung Vietnam will invest in a carbon fiber factory project in Phu My 2 Industrial Park, Phu My Town with a total capital of nearly 1 billion USD. Investment capital in the first phase is about 160 million USD.

Hyosung Vietnam Co., Ltd. asked the province to guide the implementation of documents and procedures to apply for a project investment policy, and at the same time ask a number of questions related to the project implementation process.

On behalf of provincial leaders, Mr. Nguyen Van Tho welcomed Hyosung Group as well as its businesses for choosing Ba Ria-Vung Tau province as an investment destination.

Chairman of the Provincial People’s Committee highly appreciated Hyosung Vietnam Chemical Co., Ltd. in the process of implementing the project of Polypropylene (PP) Factory and Hyosung LPG underground storage in Cai Mep Industrial Park for its efforts to ensure the project goes into operation on schedule as committed.

Ba Ria-Vung Tau is committed to supporting businesses to soon implement the carbon fiber factory project, and at the same time assigns relevant units to coordinate to guide businesses to complete the application in the correct order and procedures.

Hyosung Vietnam Co., Ltd. has invested about 3.5 billion USD in localities of Vietnam, of which, Dong Nai is 1.9 billion USD, Ba Ria-Vung Tau is 1.4 billion USD, Quang Nam is 200 million USD and Bac Ninh is 100 million USD.

Recently, at the Vietnam - Korea Business Forum, President of Hyosung Group, Mr. Cho Hyun Joon said, Hyosung considers Vietnam a strategic and key market and in the coming time, the Group will continue to expand its scale and towards sustainable development in Vietnam, especially in high-tech fields, and is expected to continue to recruit 10,000 more workers in Vietnam.

Mr. Cho Hyun Joon said that Korea’s investment cooperation in Vietnam is a model that no other country has. "I always believe that the development of Vietnam will go hand in hand with the development of Korea. We look forward to contributing in the process and want to place the Group’s future 100 years in Vietnam," he emphasized.