The opening ceremony of the ESMO VINA plant in the northern province of Ninh Bình. — Photo VNA
A plant producing automobile components opened its doors in the northern province of Ninh Binh on Friday
Financed by ESMO Group from South Korea, the plant cost more than VND300 billion (US$12.9 million). The facility covers nearly 64,000sq.m in the Gia Phu Industrial Cluster in Gia Vien District.
The ESMO VINA plant is capable of producing about 450,000 items annually.
Speaking at the inauguration ceremony, Lee Huyn Chul, CEO of ESMO VINA, said the plant was ESMO’s new move to make inroads into the Southeast Asian market.
He hoped it would create stable jobs for locals and contribute to socio-economic growth in Ninh Binh.
Vice Chairman of the provincial People’s Committee Nguyen Ngoc Thach said Ninh Binh would continue its administrative reforms to attract more domestic and foreign investors, particularly those from South Korea.
Ninh Binh is now home to eight industrial parks and 27 industrial clusters, according to the chairman.
The province's total investment capital reached VND12.7 trillion (US$545 million) in the past seven months of this year, increasing by 3.4 per cent year-on-year, according to the provincial Department of Statistics.
The figure included foreign direct investment of $47.2 million, a rise of 24.7 per cent compared to the same period last year.
In order to attract more investment capital in the future, the province would focus on a number of measures including developing infrastructure for industrial zones like Gian Khau, Khanh Phu, Tam Diep, Khanh Cu and Phuc Son, local authorities have said.
In addition, the province would focus on high-quality human resource training, encouraging collaboration between enterprises and colleges and vocational training centres to meet employee’s demands.
The province had requested the relevant departments to review administrative procedures, implementing one-door policy with a view to reduce time and costs for enterprises, they said.
To make it easier, it was necessary for investors to be provided with up-to-date information on its industrial development strategies, land and warehouse rental fees in its industrial clusters, they said. — VNS