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| Korean company Shin Chang Vina start construction of its plant in the Thuan Yen Industrial Park in the provincial capital of Tam Ky after seven months preparation. — Photo courtesy Quang Nam Newspaper |
QUANG NAM (Biz Hub) — Korean company Shin Chang Vina began construction of its plant the Thuận Yên Industrial Park in the provincial capital of Tam Ky on November 11 after seven months of preparation.
The plant, which covers an area of 2 hectares with an investment of US$10 million, was designed to produce medical equipment and create 250 jobs for locals after it begins operations from 2016.
It is also the first wholly foreign-owned project from Gumi city of Gyeongsangbuk, Korea in the 230-ha IP, 2kms away from Tam Kỳ City, and it is the first medical equipment manufacturing project in the province.
According to the industrial park (IP) managing board, the IP has attracted 15 investors who have injected $25.3 million.
The IP has offered more conditions to woo foreign investors with annual payment for land prices at $0.35 per sq.m.
Earlier this year, two companies from Korea, Panko and Duck San Vina, began constructing their garment projects in the provincial Tam Ky City's Tam Thang Industrial Zone (IZ) with a total investment of $80 million in textiles and dyed textile products. — VNS